Shelter Infra Projects Limited (SIPL.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

-246.2%

-₹24.02

vs ₹16.43 price

Levered DCF

₹28.59

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

—

Rating

C+

Overall 2 / 5

Ratios by fiscal year

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

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-105.5×	20.7×	-18.49×	-9.2×	-11.6×	3.65×	-6.76×	0.75×
P/B	1.22×	1.24×	0.96×	0.97×	1.55×	0.68×	1.03×	0.83×
P/S	2.12×	2.03×	2.15×	2.81×	3×	1.11×	1.27×	0.36×
EV / EBITDA	149.88×	44.59×	-1,550.77×	552.63×	-127.68×	11.09×	-323.47×	2.79×
Gross margin	100.0%	98.3%	97.9%	106.3%	92.5%	100.4%	96.2%	84.4%
Operating margin	-6.5%	2.8%	-16.1%	-14.9%	-23.4%	42.4%	37.0%	73.4%
Net margin	-2.1%	9.7%	-11.6%	-30.6%	-25.9%	30.4%	-18.9%	47.6%
Current ratio	0.99×	0.65×	0.76×	0.81×	0.78×	0.79×	0.8×	0.86×
Debt / equity	2.63×	2.7×	4.81×	4.67×	4.35×	3.62×	4.88×	4.09×
Interest coverage	-46.55×	13.18×	-3.68×	-0.61×	-15.13×	2.05×	3.01×	14.35×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-1.2%	6.0%	-5.2%	-10.5%	-13.3%	18.6%	-15.2%	110.2%
Return on invested capital	-1.0%	0.4%	-1.2%	-0.8%	-2.3%	4.5%	4.8%	21.6%
Return on assets	-0.1%	0.7%	-0.5%	-1.0%	-1.3%	2.1%	-1.4%	10.9%
Free cash flow yield	17.8%	33.3%	4.5%	9.1%	-3.3%	-4.5%	-3.3%	284.5%
Earnings yield	-1.0%	4.8%	-5.4%	-10.9%	-8.6%	27.4%	-14.8%	133.2%
Enterprise value	₹146.9M	₹151.8M	₹209.4M	₹215M	₹246.2M	₹200.7M	₹229M	₹219.7M
Net debt / EBITDA	102.05×	30.4×	-1,289.3×	457×	-93.56×	9.28×	-266.37×	2.31×
Cash conversion cycle (days)	-6,841,984	-102,196	-113,696	56,819	-24,859	330,236	-31,839	-1,843