Symphony Limited (SYMPHONY.NS) 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

+61.2%

₹808.28

vs ₹501.30 price

Levered DCF

₹519.54

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

6.23

Safe zone

Rating

Overall 2 / 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	-33.51×	36.18×	40.53×	60.95×	63.83×	82.46×	30.02×	103.89×
P/B	8.67×	10.13×	8.01×	8.05×	9.15×	11.66×	8.52×	14.39×
P/S	4.18×	4.89×	5.19×	5.97×	7.42×	9.86×	4.95×	11.39×
EV / EBITDA	-210.65×	25.12×	28.03×	38.27×	38.96×	54.88×	21.34×	65.95×
Gross margin	33.9%	49.2%	47.8%	43.5%	44.8%	44.5%	46.9%	46.1%
Operating margin	9.2%	34.9%	30.6%	25.7%	13.6%	13.3%	20.9%	18.2%
Net margin	-12.5%	13.5%	12.8%	9.8%	11.6%	12.0%	16.5%	11.0%
Current ratio	1.52×	1.24×	1.61×	1.81×	2.3×	2.53×	2.05×	2.32×
Debt / equity	0.32×	0.19×	0.23×	0.26×	0.3×	0.29×	0.33×	0.28×
Interest coverage	6.5×	55×	29.5×	26.21×	13.65×	9.93×	18.26×	19.68×
Dividend yield	1.7%	1.2%	0.7%	1.0%	0.6%	0.1%	3.8%	0.3%
Payout ratio	-58.2%	41.8%	28.5%	60.4%	41.2%	7.1%	113.6%	33.8%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-25.9%	28.0%	19.8%	13.2%	14.3%	14.1%	28.4%	13.9%
Return on invested capital	14.2%	45.2%	30.8%	20.5%	9.1%	9.8%	20.8%	12.9%
Return on assets	-13.7%	16.0%	12.2%	8.3%	8.8%	8.8%	17.0%	8.6%
Free cash flow yield	-2.4%	3.1%	2.6%	1.6%	0.6%	0.8%	2.5%	1.3%
Earnings yield	-3.0%	2.8%	2.5%	1.6%	1.6%	1.2%	3.3%	1.0%
Enterprise value	₹48.4B	₹78.1B	₹61.3B	₹72.7B	₹78.7B	₹90.3B	₹56.4B	₹97.5B
Net debt / EBITDA	-5.22×	0.34×	0.59×	0.94×	0.95×	1.12×	0.72×	1.1×
Cash conversion cycle (days)	139	81	112	111	109	76	43	39