Source Natural Foods & Herbal Supplements Ltd. (SOURCENTRL.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

-210.6%

-₹121.42

vs ₹109.80 price

Levered DCF

₹86.54

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	20.55×	44.29×	33.51×	26.94×	25.13×	28.24×	28.35×	28.87×
P/B	2.71×	5.76×	2.99×	3.23×	3.92×	7.24×	4.75×	3.37×
P/S	0.99×	2.87×	2.13×	2.89×	2.84×	3.83×	3.42×	2.31×
EV / EBITDA	12.81×	24.68×	11.85×	15.12×	15.77×	22.38×	20.21×	18.53×
Gross margin	14.7%	16.0%	38.5%	50.2%	56.2%	60.2%	34.9%	62.5%
Operating margin	7.8%	9.2%	12.6%	15.1%	33.8%	18.1%	15.9%	11.5%
Net margin	4.8%	6.5%	6.4%	10.7%	11.3%	13.6%	12.1%	8.0%
Current ratio	2.18×	1.92×	4.98×	4.33×	4.27×	3.01×	3×	3.85×
Debt / equity	0.3×	0.33×	0.06×	0×	0×	0.07×	0.11×	0.02×
Interest coverage	8.54×	6.62×	16.44×	11.03×	47.61×	43.39×	9.75×	7.87×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	1.4%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	39.3%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	13.2%	13.0%	8.9%	12.0%	15.6%	25.6%	16.8%	11.7%
Return on invested capital	11.1%	11.0%	9.4%	12.9%	27.0%	26.1%	17.0%	15.5%
Return on assets	8.3%	7.8%	7.3%	9.9%	12.6%	19.6%	12.5%	9.5%
Free cash flow yield	-5.4%	-0.5%	4.6%	4.4%	-3.7%	3.4%	-0.9%	7.8%
Earnings yield	4.9%	2.3%	3.0%	3.7%	4.0%	3.5%	3.5%	3.5%
Enterprise value	₹754.3M	₹1.3B	₹523.3M	₹542.5M	₹603M	₹935.2M	₹476M	₹290.4M
Net debt / EBITDA	0.95×	0.04×	-1.33×	-0.81×	-0.22×	-0.42×	0.47×	-0.38×
Cash conversion cycle (days)	111	139	133	199	181	137	214	203