Sri Ramakrishna Mills (Coimbatore) Limited (SRMCL.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

-1821.4%

-₹934.40

vs ₹54.28 price

Levered DCF

₹100.74

After debt service

Piotroski score

5 / 9

Average

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	0.91×	8.65×	4.62×	58.46×	9.55×	18.82×	1.24×	2.83×
P/B	0.5×	1.42×	1.61×	1.36×	1.89×	1.31×	0.76×	3.04×
P/S	0.25×	0.36×	0.51×	0.41×	0.5×	0.59×	0.21×	0.38×
EV / EBITDA	1.84×	6.76×	4.5×	11.26×	9.59×	7.52×	2.98×	4.04×
Gross margin	36.9%	21.8%	26.5%	37.6%	14.9%	67.9%	46.6%	41.4%
Operating margin	22.7%	8.2%	18.4%	8.3%	12.6%	25.4%	44.4%	37.2%
Net margin	28.1%	4.2%	11.0%	0.7%	5.2%	3.1%	17.3%	13.5%
Current ratio	1.78×	0.92×	0.95×	1.06×	1.27×	1.48×	1.49×	1.14×
Debt / equity	0.72×	1.75×	1.81×	2.8×	2.93×	3.57×	4.01×	9.78×
Interest coverage	7.54×	2.17×	2.76×	1.04×	1.74×	1.33×	5.17×	3.2×
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	55.1%	16.4%	34.9%	2.3%	19.8%	6.9%	61.1%	107.2%
Return on invested capital	23.3%	8.7%	14.3%	4.5%	7.2%	3.6%	13.0%	11.0%
Return on assets	26.6%	5.3%	9.7%	0.5%	3.9%	1.1%	9.3%	6.0%
Free cash flow yield	-20.0%	-10.2%	-5.4%	21.4%	10.3%	44.8%	-23.3%	-6.9%
Earnings yield	110.2%	11.6%	21.7%	1.7%	10.5%	5.2%	80.8%	35.3%
Enterprise value	₹607.4M	₹704.1M	₹634.9M	₹497.2M	₹560.2M	₹463.8M	₹420.9M	₹435M
Net debt / EBITDA	1.09×	3.73×	2.38×	7.58×	5.83×	5.5×	2.51×	3.08×
Cash conversion cycle (days)	119	152	221	486	588	1,902	779	710