Sharat Industries Ltd (SHINDL.BO) 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

-294.8%

-₹290.93

vs ₹149.35 price

Levered DCF

-₹270.46

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

C-

Overall 1 / 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	36.16×	23.56×	18×	16.79×	38.75×	28.04×	20.65×	1.96×
P/B	3.72×	2.88×	1.26×	1.39×	1.9×	1.26×	0.66×	0.11×
P/S	1.1×	1.04×	0.35×	0.34×	0.56×	0.3×	0.19×	0.03×
EV / EBITDA	18.89×	16.12×	9.4×	8.88×	15.34×	11.86×	7.47×	5.12×
Gross margin	19.5%	21.3%	23.6%	18.8%	21.0%	13.6%	18.3%	15.6%
Operating margin	6.0%	6.2%	20.7%	5.8%	1.6%	3.7%	-0.4%	21.8%
Net margin	3.0%	2.6%	1.9%	2.0%	1.4%	1.1%	0.9%	1.6%
Current ratio	2.07×	1.76×	1.42×	1.39×	1.35×	1.32×	1.33×	1.35×
Debt / equity	0.81×	0.85×	1.19×	1.19×	1.33×	1.5×	1.16×	1.12×
Interest coverage	2.66×	2.07×	6.67×	2.05×	0.57×	1.53×	-0.09×	6.76×
Dividend yield	0.2%	0.0%	0.6%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	6.2%	0.0%	10.2%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	10.3%	7.3%	7.0%	8.3%	4.9%	4.5%	3.2%	5.5%
Return on invested capital	7.7%	6.6%	25.6%	7.6%	1.7%	4.0%	-0.4%	27.8%
Return on assets	5.0%	3.6%	2.9%	3.3%	1.9%	1.4%	1.2%	2.0%
Free cash flow yield	-3.2%	-9.7%	-3.3%	8.8%	-4.5%	-21.1%	10.3%	-231.3%
Earnings yield	2.8%	2.5%	5.5%	5.9%	2.6%	3.6%	4.9%	51.1%
Enterprise value	₹6.8B	₹4.9B	₹2B	₹1.9B	₹2.2B	₹1.6B	₹985.8M	₹634.4M
Net debt / EBITDA	2.93×	3.12×	4.53×	3.88×	6.12×	6.38×	4.72×	4.66×
Cash conversion cycle (days)	146	165	157	118	170	132	145	133