Surat Trade and Mercantile Limited (SURATRAML.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

+3046.8%

₹129.02

vs ₹4.10 price

Levered DCF

₹55.26

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

11.71

Safe zone

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	6.57×	11.7×	24.95×	3.17×	-46.84×	13.69×	25.43×	16.18×
P/B	0.32×	0.64×	1.11×	1.01×	1.48×	1.43×	1.58×	1.63×
P/S	0.65×	2.01×	3.81×	7.7×	0×	0×	1.1×	0.91×
EV / EBITDA	4.4×	13.91×	16.47×	47.06×	309.92×	-3,525.01×	13.77×	15.77×
Gross margin	4.4%	-0.9%	-3.9%	-5.9%	0.0%	0.0%	6.8%	5.7%
Operating margin	0.3%	-7.8%	-9.9%	-20.1%	0.0%	0.0%	4.0%	3.8%
Net margin	9.9%	17.0%	15.2%	243.0%	0.0%	0.0%	4.3%	5.6%
Current ratio	39.76×	92.75×	98.71×	128.38×	11.6×	35.76×	10.62×	4.45×
Debt / equity	0.01×	0.01×	0.01×	0×	0×	0×	0.01×	0×
Interest coverage	2.37×	-33.39×	-118.74×	-149.42×	-90.14×	-29.88×	9.41×	7.65×
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	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	4.8%	5.4%	4.4%	31.8%	-3.2%	10.5%	6.3%	10.0%
Return on invested capital	0.1%	-2.4%	-1.9%	-2.1%	-4.0%	-1.7%	4.1%	6.8%
Return on assets	4.7%	5.3%	4.3%	31.4%	-3.1%	10.1%	5.8%	8.6%
Free cash flow yield	33.8%	-7.3%	-7.8%	-1.2%	-3.3%	-4.7%	-0.3%	2.9%
Earnings yield	15.2%	8.5%	4.0%	31.6%	-2.2%	7.3%	3.9%	6.1%
Enterprise value	₹647.4M	₹1.4B	₹2.3B	₹2B	₹2B	₹1.9B	₹1.7B	₹1.9B
Net debt / EBITDA	-0.5×	0.07×	0.07×	-0.11×	-0.44×	148.55×	-2.67×	-0.46×
Cash conversion cycle (days)	-1	118	90	18	688	15,445	24	8