Sky Industries Limited (SKYIND.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

-29.8%

₹66.72

vs ₹95.02 price

Levered DCF

₹91.04

After debt service

Piotroski score

3 / 9

Weak

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	7.79×	11.99×	14.65×	27.36×	8.92×	40.12×	49.92×	8.69×
P/B	1.03×	1.58×	1.68×	1.33×	1.32×	1.25×	0.66×	0.81×
P/S	0.6×	0.83×	0.82×	0.65×	0.62×	0.61×	0.24×	0.29×
EV / EBITDA	7×	8.13×	9.21×	10.98×	5.89×	9.6×	7.68×	5.44×
Gross margin	28.5%	37.8%	31.8%	13.0%	18.0%	13.4%	11.8%	31.3%
Operating margin	10.7%	9.1%	6.6%	4.8%	10.0%	22.5%	4.6%	6.8%
Net margin	7.7%	6.8%	5.6%	2.4%	6.9%	1.5%	0.5%	3.3%
Current ratio	1.72×	2.27×	2.13×	2.05×	2.06×	1.86×	1.31×	1.44×
Debt / equity	0.64×	0.36×	0.32×	0.38×	0.42×	0.53×	0.49×	0.44×
Interest coverage	7.87×	7.52×	4.21×	2.22×	5.54×	10.27×	2.36×	3.73×
Dividend yield	1.5%	1.1%	1.2%	1.6%	1.3%	0.8%	3.9%	1.7%
Payout ratio	11.9%	13.5%	17.4%	44.5%	11.9%	30.5%	193.1%	14.5%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	13.2%	13.0%	11.4%	4.9%	14.8%	3.1%	1.3%	9.3%
Return on invested capital	8.6%	9.3%	7.7%	5.2%	10.8%	16.8%	6.9%	9.0%
Return on assets	7.3%	9.0%	7.3%	3.0%	8.6%	1.6%	0.6%	4.5%
Free cash flow yield	-36.6%	-6.5%	10.1%	2.1%	-8.8%	-5.3%	7.3%	-3.6%
Earnings yield	12.8%	8.2%	6.8%	3.7%	11.2%	2.5%	2.0%	11.5%
Enterprise value	₹834.4M	₹867M	₹790.2M	₹618.4M	₹573M	₹443.1M	₹247.3M	₹256.5M
Net debt / EBITDA	2.65×	1.45×	1.44×	2.4×	1.42×	2.65×	3.23×	1.91×
Cash conversion cycle (days)	150	195	142	149	139	130	98	111