SIS Limited (SIS.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

+64.3%

₹625.58

vs ₹380.70 price

Levered DCF

₹957.41

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

—

Rating

B-

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	28.84×	406.71×	33.31×	13.56×	21.96×	15.7×	27.99×	29.05×
P/B	1.56×	2.02×	2.62×	2.02×	3.45×	3.13×	4.55×	5.02×
P/S	0.25×	0.37×	0.52×	0.41×	0.71×	0.63×	0.74×	0.88×
EV / EBITDA	9.87×	9.58×	12.56×	10.84×	14.34×	8.8×	12.81×	18.76×
Gross margin	13.7%	16.1%	16.6%	99.1%	99.2%	99.1%	99.0%	99.1%
Operating margin	3.1%	15.4%	3.4%	3.2%	3.9%	4.5%	4.6%	4.2%
Net margin	0.9%	0.1%	1.5%	3.1%	3.2%	4.0%	2.7%	3.0%
Current ratio	1.45×	1.6×	1.19×	1.44×	1.31×	1.33×	1.25×	1.48×
Debt / equity	0.7×	0.68×	0.69×	0.71×	0.7×	0.8×	0.95×	0.78×
Interest coverage	2.87×	12.63×	2.84×	3.13×	3.95×	3.2×	2.58×	3.19×
Dividend yield	2.5%	0.0%	0.0%	0.0%	0.0%	0.0%	1.0%	0.2%
Payout ratio	71.7%	0.0%	0.0%	0.0%	0.0%	0.0%	28.0%	5.1%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	5.4%	0.5%	7.9%	14.8%	15.7%	20.0%	16.2%	17.3%
Return on invested capital	10.0%	8.3%	6.8%	8.5%	9.9%	8.9%	9.1%	9.1%
Return on assets	1.8%	0.2%	3.2%	6.1%	6.4%	7.3%	4.8%	5.1%
Free cash flow yield	12.4%	12.1%	3.6%	0.9%	1.8%	10.0%	1.9%	1.9%
Earnings yield	3.5%	0.2%	3.0%	7.4%	4.6%	6.4%	3.6%	3.4%
Enterprise value	₹49.8B	₹57.8B	₹73.4B	₹56.8B	₹79B	₹63.6B	₹72.2B	₹68.3B
Net debt / EBITDA	2×	1.54×	1.72×	1.87×	1.39×	0.86×	1.61×	1.53×
Cash conversion cycle (days)	52	50	76	-37	-42	-95	-19	-165