Smruthi Organics Limited (SMRUTHIORG.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

-62.1%

₹56.44

vs ₹148.80 price

Levered DCF

₹15.68

After debt service

Piotroski score

2 / 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	32.27×	37.22×	46.86×	35.58×	25.03×	14.87×	3.25×	7.93×
P/B	1.5×	1.85×	2.42×	2.16×	3.87×	4.21×	0.65×	1.49×
P/S	1.08×	1.05×	1.33×	1.05×	1.95×	2.05×	0.21×	0.4×
EV / EBITDA	9.19×	12.37×	15.32×	15.31×	13.8×	8.72×	2.48×	4.46×
Gross margin	32.1%	45.6%	41.0%	33.3%	38.2%	45.0%	34.0%	31.7%
Operating margin	6.6%	31.8%	5.0%	3.5%	28.8%	18.6%	8.0%	7.7%
Net margin	3.4%	2.8%	2.8%	2.9%	7.8%	13.8%	6.5%	5.1%
Current ratio	1.98×	2.04×	1.79×	1.84×	3.37×	2.26×	1.4×	1.14×
Debt / equity	0.11×	0.24×	0.17×	0.08×	0.04×	0.17×	0.37×	0.76×
Interest coverage	3.97×	21.42×	4.47×	6×	38.88×	21.13×	3.25×	2.92×
Dividend yield	1.6%	1.3%	1.4%	2.3%	1.3%	0.0%	8.4%	0.0%
Payout ratio	50.1%	48.2%	63.8%	83.1%	33.1%	0.0%	27.2%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	4.7%	5.0%	5.2%	6.1%	15.5%	28.3%	19.9%	18.9%
Return on invested capital	5.9%	32.6%	5.5%	6.0%	38.6%	21.7%	11.4%	10.6%
Return on assets	3.3%	3.2%	3.0%	3.9%	11.8%	18.6%	9.6%	6.8%
Free cash flow yield	11.6%	-1.2%	-2.3%	1.8%	-1.7%	7.4%	61.0%	13.1%
Earnings yield	3.1%	2.7%	2.1%	2.8%	4.0%	6.7%	30.8%	12.6%
Enterprise value	₹1.2B	₹1.5B	₹1.8B	₹1.5B	₹2.6B	₹2.5B	₹395.2M	₹778.9M
Net debt / EBITDA	0.48×	1.37×	0.97×	0.51×	0.14×	-0.2×	0.76×	1.35×
Cash conversion cycle (days)	146	160	124	94	125	93	65	71