Shri Venkatesh Refineries Limi (SVRL.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

-409.3%

-₹2,097.16

vs ₹678.00 price

Levered DCF

-₹3,024.22

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

5.19

Safe zone

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	14.93×	24.39×	11.19×	12.52×	9.94×	9.26×	14.81×	25.97×
P/B	4.34×	4.62×	2.11×	2.71×	2.29×	1.2×	1.38×	1.58×
P/S	0.41×	0.63×	0.29×	0.29×	0.2×	0.1×	0.14×	0.14×
EV / EBITDA	11.8×	17.01×	9.79×	9.11×	7.32×	8.88×	9.15×	11.01×
Gross margin	5.8%	6.1%	6.1%	4.7%	4.9%	4.5%	4.7%	4.1%
Operating margin	5.1%	4.9%	5.0%	4.3%	4.1%	2.9%	4.6%	4.0%
Net margin	2.8%	2.6%	2.6%	2.3%	2.3%	1.0%	0.9%	0.6%
Current ratio	1.36×	1.61×	1.72×	2.4×	2.35×	1.6×	1.47×	1.44×
Debt / equity	2.38×	1.91×	1.56×	1.17×	1.33×	2.12×	1.51×	1.25×
Interest coverage	3.65×	3.24×	3.4×	3.44×	4.12×	2.08×	0×	0×
Dividend yield	0.4%	0.5%	0.9%	0.6%	0.0%	0.0%	0.0%	0.0%
Payout ratio	5.8%	12.2%	10.2%	7.7%	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	29.1%	18.9%	18.9%	21.7%	26.6%	12.9%	9.4%	6.1%
Return on invested capital	11.5%	9.1%	10.3%	13.9%	14.3%	8.6%	13.3%	13.0%
Return on assets	6.5%	5.4%	6.3%	8.5%	10.0%	3.8%	3.3%	2.6%
Free cash flow yield	-22.0%	-10.4%	-25.1%	-2.0%	-22.1%	-49.0%	-18.9%	5.7%
Earnings yield	6.7%	4.1%	8.9%	8.0%	11.6%	10.8%	6.8%	3.9%
Enterprise value	₹8.8B	₹6.2B	₹2.9B	₹2.6B	₹1.9B	₹892.5M	₹675M	₹578.2M
Net debt / EBITDA	4.11×	4.89×	4.16×	2.72×	2.66×	5.64×	4.72×	4.81×
Cash conversion cycle (days)	83	114	112	72	60	69	56	43