Sharda Motor Industries Limited (SHARDAMOTR.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+142.7%

₹2,073.25

vs ₹854.10 price

Levered DCF

₹3,669.42

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	11.77×	14.61×	13.76×	8.01×	14.91×	17.52×	3.17×	3.75×
P/B	3.1×	2.2×	2.05×	1.1×	1.94×	1.36×	0.46×	0.75×
P/S	1.2×	0.82×	0.73×	0.31×	0.5×	0.34×	0.19×	0.31×
EV / EBITDA	9.6×	4.56×	5.04×	2.17×	3.62×	3.47×	0.82×	1.71×
Gross margin	17.1%	18.8%	23.4%	19.9%	18.8%	17.5%	31.3%	31.1%
Operating margin	10.5%	14.7%	11.2%	9.0%	8.5%	5.1%	6.5%	9.2%
Net margin	10.2%	11.1%	10.7%	7.7%	6.7%	3.9%	6.1%	8.4%
Current ratio	1.98×	2.23×	1.77×	1.87×	1.84×	1.44×	1.64×	1.98×
Debt / equity	0.04×	0.05×	0.02×	0.03×	0.02×	0.03×	0.03×	0×
Interest coverage	82.02×	106.14×	142.25×	126.58×	128.56×	61.22×	60.09×	2,276.31×
Dividend yield	2.3%	1.2%	2.5%	2.9%	0.7%	0.0%	0.0%	1.3%
Payout ratio	27.0%	9.0%	17.1%	11.6%	5.2%	0.1%	0.1%	4.8%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	26.3%	29.7%	29.8%	27.5%	26.0%	15.5%	14.4%	19.9%
Return on invested capital	19.4%	27.8%	22.6%	22.9%	23.5%	13.9%	10.8%	14.9%
Return on assets	15.6%	17.9%	18.4%	15.0%	14.0%	6.9%	8.4%	13.1%
Free cash flow yield	7.1%	8.5%	14.4%	-36.3%	14.0%	18.3%	-58.0%	8.5%
Earnings yield	8.5%	13.5%	14.5%	25.0%	13.4%	11.4%	31.5%	26.7%
Enterprise value	₹40.2B	₹21.9B	₹18.3B	₹7B	₹9.3B	₹5.2B	₹984M	₹2.8B
Net debt / EBITDA	-0.11×	-0.31×	-0.65×	-0.41×	-0.7×	-0.41×	-0.57×	-0.42×
Cash conversion cycle (days)	-25	-17	-20	-6	-11	-8	-10	2