Sprayking Agro Equipment Limited (SPRAYKING.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

-74022.5%

-₹827.93

vs ₹1.12 price

Levered DCF

-₹1,024.57

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

C+

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	0.57×	4.99×	12.46×	16.9×	13.94×	5.43×	70.98×	22.82×
P/B	0.02×	1.15×	3.75×	1.18×	0.53×	0.39×	0.25×	0.38×
P/S	0.01×	0.28×	1.09×	1.52×	0.3×	0.19×	0.08×	0.11×
EV / EBITDA	2.33×	6.09×	9.18×	12.04×	9.05×	131.26×	7.13×	7.48×
Gross margin	8.2%	14.5%	15.2%	15.3%	6.9%	1.2%	16.2%	16.4%
Operating margin	3.9%	6.5%	13.2%	12.6%	3.0%	3.0%	8.9%	9.7%
Net margin	1.5%	5.7%	8.8%	8.8%	2.2%	3.3%	0.1%	0.5%
Current ratio	3.12×	1.29×	1.33×	12.35×	4.36×	9.02×	2.2×	1.91×
Debt / equity	0.42×	1.47×	1.17×	0.05×	0×	0.04×	0.62×	0.79×
Interest coverage	1.69×	3.79×	9.88×	22.47×	126.63×	1.41×	0×	4.59×
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	3.3%	22.9%	30.2%	6.9%	3.8%	7.1%	0.4%	1.6%
Return on invested capital	4.1%	7.5%	14.2%	6.8%	3.9%	4.4%	11.7%	13.5%
Return on assets	1.6%	6.9%	9.2%	6.3%	3.0%	6.3%	0.2%	0.9%
Free cash flow yield	-1537.7%	-49.6%	-24.4%	-11.1%	20.2%	18.3%	66.7%	26.6%
Earnings yield	176.5%	20.0%	8.1%	5.8%	7.2%	18.0%	1.4%	4.4%
Enterprise value	₹252.6M	₹830.1M	₹1.4B	₹305.9M	₹44.3M	₹37.8M	₹70.4M	₹94.3M
Net debt / EBITDA	2.23×	3.42×	2.01×	0.51×	-0.82×	11.73×	5.06×	5.07×
Cash conversion cycle (days)	154	113	82	422	159	116	155	153