Sify Technologies Limited (SIFY) 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

-402.8%

-$38.70

vs $12.78 price

Levered DCF

-$43.45

After debt service

Piotroski score

1 / 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	-60.72×	-33.71×	251.92×	60.53×	71.08×	66.48×	28.95×	32.72×
P/B	5.69×	1.32×	2.37×	2.38×	6.18×	7.73×	1.8×	3.24×
P/S	1.83×	0.66×	1.2×	1.22×	3.26×	4.18×	0.89×	1.62×
EV / EBITDA	12.76×	7.54×	9.85×	9×	16.4×	20.31×	6.9×	12.77×
Gross margin	24.0%	37.5%	37.2%	36.0%	28.5%	39.5%	37.4%	36.9%
Operating margin	5.9%	5.7%	6.7%	7.9%	10.2%	9.8%	8.2%	8.1%
Net margin	-3.0%	-2.0%	0.5%	2.0%	4.7%	6.3%	3.1%	5.0%
Current ratio	0.73×	0.96×	1.02×	1.01×	1.04×	1.02×	1.01×	1.19×
Debt / equity	3.4×	1.96×	1.86×	1.34×	1.21×	0.89×	0.98×	0.77×
Interest coverage	0.67×	0.82×	1.14×	1.58×	190.24×	3.02×	126.46×	168.37×
Dividend yield	0.0%	0.1%	0.0%	0.0%	0.0%	0.0%	1.1%	0.6%
Payout ratio	0.0%	-2.9%	0.0%	0.0%	0.0%	0.0%	31.7%	20.4%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-9.4%	-3.9%	0.9%	3.9%	8.8%	11.6%	6.2%	9.9%
Return on invested capital	3.8%	3.6%	2.1%	4.1%	5.6%	8.8%	5.5%	11.2%
Return on assets	-1.6%	-0.9%	0.2%	1.2%	2.7%	4.2%	2.1%	3.6%
Free cash flow yield	-11.9%	-13.9%	-17.3%	-12.0%	-5.7%	3.2%	2.6%	-7.2%
Earnings yield	-1.6%	-3.0%	0.4%	1.7%	1.4%	1.5%	3.5%	3.1%
Enterprise value	$133.3B	$61B	$72.2B	$60B	$103.2B	$108.4B	$29.3B	$41.3B
Net debt / EBITDA	4.48×	4.27×	4.02×	2.89×	2.17×	1.24×	2.08×	1.97×
Cash conversion cycle (days)	71	-7	-9	0	96	73	88	136