Sobha Limited (SOBHA.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

-224.2%

-₹1,414.26

vs ₹1,138.30 price

Levered DCF

₹4,103.99

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

0.87

Distress zone

Rating

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	65.64×	129.41×	290.03×	39.18×	38.73×	66.47×	4.51×	15.93×
P/B	2.69×	2.69×	5.67×	1.59×	2.7×	1.66×	0.51×	2.12×
P/S	2.45×	3.05×	4.65×	1.21×	2.56×	1.92×	0.33×	1.38×
EV / EBITDA	24.34×	28.4×	42.69×	12.77×	15×	15.96×	5.96×	11.02×
Gross margin	20.6%	33.0%	37.1%	35.3%	44.1%	55.0%	74.3%	57.4%
Operating margin	3.9%	5.6%	6.5%	9.4%	18.1%	28.3%	27.8%	17.8%
Net margin	3.7%	2.4%	1.6%	3.2%	6.8%	3.0%	7.5%	8.6%
Current ratio	1.14×	1.25×	1.08×	1.11×	1.14×	1.13×	1.14×	1.1×
Debt / equity	0.22×	0.26×	0.77×	0.81×	1.04×	1.26×	1.36×	1.28×
Interest coverage	1.49×	1.29×	0.88×	1.34×	1.55×	0.99×	1.53×	2.59×
Dividend yield	0.3%	0.2%	0.2%	0.7%	0.5%	1.6%	6.5%	1.4%
Payout ratio	16.6%	32.0%	57.9%	27.4%	19.2%	106.6%	28.4%	22.3%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	4.1%	2.1%	2.0%	4.2%	7.1%	2.6%	11.6%	13.3%
Return on invested capital	2.6%	2.7%	2.9%	4.9%	6.8%	8.9%	11.7%	45.1%
Return on assets	1.0%	0.5%	0.4%	0.8%	1.5%	0.6%	2.6%	2.8%
Free cash flow yield	2.1%	-0.2%	3.7%	25.8%	12.3%	14.2%	-3.2%	2.1%
Earnings yield	1.5%	0.8%	0.3%	2.6%	2.7%	1.5%	22.8%	6.3%
Enterprise value	₹122.5B	₹116.3B	₹161.3B	₹57.2B	₹89.2B	₹69.2B	₹44.8B	₹74.1B
Net debt / EBITDA	-0.89×	-1.53×	4.98×	3.9×	4.02×	6.66×	4.32×	3.99×
Cash conversion cycle (days)	1,082	1,467	1,700	1,444	1,937	2,549	2,229	1,381