Suraj Products Limited (SURAJ.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

-3.4%

₹241.74

vs ₹250.20 price

Levered DCF

₹401.13

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

—

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	10.56×	22.12×	15.38×	5.35×	5.5×	4.36×	1.96×	3.43×
P/B	1.19×	3.17×	3.41×	1.35×	1.65×	0.73×	0.23×	0.54×
P/S	0.65×	1.45×	1.29×	0.49×	0.55×	0.18×	0.09×	0.19×
EV / EBITDA	6.09×	12.93×	9.19×	3.94×	4.34×	3.29×	5.8×	5.75×
Gross margin	9.5%	18.4%	13.2%	22.2%	24.3%	19.9%	20.7%	18.4%
Operating margin	7.9%	12.9%	12.2%	14.0%	15.0%	9.8%	8.3%	9.3%
Net margin	6.2%	6.6%	8.4%	9.1%	10.0%	4.2%	4.6%	5.4%
Current ratio	8.62×	4.08×	2.63×	1.83×	1.94×	1.4×	1.28×	1.3×
Debt / equity	0.04×	0.14×	0.32×	0.52×	0.78×	1.2×	1.9×	1.59×
Interest coverage	24.29×	18.67×	12.06×	9.89×	7.91×	3.02×	1.57×	2.44×
Dividend yield	1.2%	0.5%	0.4%	0.9%	0.0%	0.1%	0.8%	0.3%
Payout ratio	12.8%	10.6%	5.9%	4.7%	0.3%	0.6%	1.6%	1.1%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	11.3%	14.3%	22.2%	25.2%	30.1%	16.7%	11.9%	15.7%
Return on invested capital	10.5%	18.7%	17.5%	17.9%	19.2%	11.2%	7.4%	10.1%
Return on assets	10.0%	11.7%	15.6%	15.1%	16.3%	7.1%	3.6%	5.7%
Free cash flow yield	18.5%	5.5%	6.9%	9.8%	4.4%	76.3%	-158.1%	-39.6%
Earnings yield	9.5%	4.5%	6.5%	18.7%	18.2%	22.9%	50.9%	29.1%
Enterprise value	₹2B	₹4.8B	₹4.7B	₹1.9B	₹1.9B	₹1B	₹968.3M	₹851.6M
Net debt / EBITDA	-0.04×	0.18×	0.54×	1.09×	1.39×	2×	5.16×	4.29×
Cash conversion cycle (days)	70	69	62	66	109	73	154	95