SRM Contractors Limited (SRM.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

+210.3%

₹1,217.99

vs ₹392.55 price

Levered DCF

-₹638.30

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

B-

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
P/E	7.91×	13.8×	19.23×	27.36×	29.5×	62.6×
P/B	2.37×	2.75×	4.01×	8.1×	11.68×	19.32×
P/S	0.86×	1.44×	1.51×	1.71×	1.97×	3.24×
EV / EBITDA	5.61×	7.41×	11.97×	13.98×	17.13×	30.53×
Gross margin	32.0%	28.0%	23.9%	27.3%	29.6%	30.7%
Operating margin	14.8%	12.9%	19.6%	10.2%	34.5%	7.1%
Net margin	10.8%	10.4%	7.9%	6.2%	6.7%	5.2%
Current ratio	1.59×	2.79×	2.38×	2.03×	1.56×	1.23×
Debt / equity	0.36×	0.15×	0.37×	0.74×	0.71×	1.19×
Interest coverage	16.02×	9.09×	11.76×	5.25×	42.11×	6.34×
Dividend yield	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%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021
Return on equity	29.9%	20.0%	20.8%	29.6%	39.6%	30.8%
Return on invested capital	19.3%	15.9%	29.8%	20.6%	89.5%	14.7%
Return on assets	11.2%	13.5%	11.5%	13.8%	14.6%	7.4%
Free cash flow yield	-2.8%	-6.0%	1.0%	0.7%	0.8%	0.6%
Earnings yield	12.6%	7.2%	5.2%	3.7%	3.4%	1.6%
Enterprise value	₹9.4B	₹7.1B	₹5.1B	₹5.4B	₹5.4B	₹5.4B
Net debt / EBITDA	0.39×	-0.55×	-0.28×	0.7×	0.73×	1.4×
Cash conversion cycle (days)	-119	106	27	17	-14	-72