Smiths & Founders (India) Limited (SMFIL.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

-71.4%

₹2.58

vs ₹9.00 price

Levered DCF

₹4.27

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

Overall 2 / 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	27.93×	60.82×	76.45×	129.83×	37.64×	11.83×	-6.6×	-7.8×
P/B	1.79×	3.2×	2.56×	1.73×	10.96×	2.27×	2.31×	2×
P/S	2.72×	4.82×	4.16×	3.01×	5.17×	0.96×	0.87×	0.8×
EV / EBITDA	31.77×	35.65×	44.75×	42.99×	27.69×	9.45×	-32.48×	-24.92×
Gross margin	12.2%	40.1%	11.8%	35.6%	42.6%	40.9%	33.1%	28.3%
Operating margin	6.4%	13.0%	6.7%	5.2%	14.9%	8.2%	-8.9%	-8.0%
Net margin	9.7%	7.9%	5.4%	2.3%	13.9%	8.1%	-13.8%	-10.6%
Current ratio	5.2×	3.14×	2.93×	2.43×	4.25×	1.34×	0.98×	0.8×
Debt / equity	0×	0.02×	0.12×	0.16×	0.57×	1.34×	1.62×	0.97×
Interest coverage	48.74×	13.37×	3.07×	1.99×	4.46×	1.62×	-1.72×	-2.71×
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	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	6.4%	5.3%	3.3%	1.3%	29.5%	19.2%	-36.4%	-26.4%
Return on invested capital	2.9%	5.9%	3.5%	2.5%	18.1%	7.6%	-8.4%	-9.3%
Return on assets	5.8%	4.7%	2.8%	1.1%	16.0%	7.0%	-11.5%	-11.2%
Free cash flow yield	4.5%	2.8%	1.6%	0.5%	3.9%	-1.0%	-8.2%	-12.9%
Earnings yield	3.6%	1.6%	1.3%	0.8%	2.7%	8.5%	-15.8%	-13.2%
Enterprise value	₹366.9M	₹640.6M	₹507.1M	₹343.9M	₹564.8M	₹128M	₹114.6M	₹117.7M
Net debt / EBITDA	-1.19×	0.21×	1.96×	3.59×	1.34×	3.5×	-13.39×	-8.07×
Cash conversion cycle (days)	79	107	124	184	160	201	152	112