Swasti Vinayaka Synthetics Limited (SWASTIVI.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

-222.5%

-₹4.17

vs ₹3.40 price

Levered DCF

-₹0.01

After debt service

Piotroski score

2 / 9

Weak

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	9.36×	20.33×	35.14×	19.32×	38.47×	48×	13.69×	10.64×
P/B	1.09×	2.15×	3.38×	2.06×	3.96×	4.94×	1.52×	2.1×
P/S	0.89×	1.29×	2.27×	1.43×	3.23×	5.15×	0.94×	1.41×
EV / EBITDA	6.1×	12.44×	20.67×	12.3×	23.87×	26.18×	8.17×	7.29×
Gross margin	42.2%	40.6%	28.1%	36.7%	38.2%	42.0%	29.3%	36.7%
Operating margin	9.7%	9.9%	9.5%	10.7%	12.1%	17.9%	10.1%	17.3%
Net margin	9.5%	6.3%	6.4%	7.4%	8.6%	10.8%	6.8%	13.2%
Current ratio	5.01×	3.21×	4.14×	2.14×	2.7×	2.51×	1.75×	1.95×
Debt / equity	0.16×	0.24×	0.13×	0.21×	0.09×	0.2×	0.13×	0.25×
Interest coverage	3.38×	5.19×	5.47×	6.07×	8.25×	4.02×	5.26×	13.41×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	4.7%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	64.9%	0.1%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	11.7%	10.5%	9.6%	10.7%	10.5%	10.4%	11.0%	19.7%
Return on invested capital	6.7%	8.6%	7.9%	8.1%	8.5%	9.2%	8.8%	12.4%
Return on assets	7.4%	5.4%	5.8%	5.6%	6.0%	5.6%	4.9%	10.1%
Free cash flow yield	0.1%	-2.7%	-4.7%	6.9%	2.1%	-0.3%	8.8%	3.6%
Earnings yield	10.7%	4.9%	2.8%	5.2%	2.7%	2.1%	7.3%	9.4%
Enterprise value	₹325.9M	₹541.1M	₹718.7M	₹422M	₹671.8M	₹764.2M	₹213.4M	₹300M
Net debt / EBITDA	0.75×	1.07×	0.66×	1.15×	0.5×	1.02×	0.62×	0.77×
Cash conversion cycle (days)	430	402	361	382	437	603	385	359