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Last Updated: April 2, 2026, 3:36 am
Author: Getaka|Social: XLinkedIn

Sadbhav Infrastructure Projects Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹4.42Undervalued by 106.54%vs CMP ₹2.14

P/E (2.4) × ROE (15.0%) × BV (₹14.80) × DY (2.00%)

Defaults: ROE=15%

₹23.96Undervalued by 1,019.63%vs CMP ₹2.14
MoS: +91.1% (Strong)Confidence: 53/100 (Moderate)Models: All 3: Undervalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹3.1751%Under (+48.1%)
EV/EBITDAEnterprise₹69.1426%Under (+3130.8%)
Revenue MultipleRevenue₹19.9823%Under (+833.6%)
Consensus (3 models)₹23.96100%Undervalued
Key Drivers: EPS CAGR -28.4% drags value — could be higher if earnings stabilize. | Wide model spread (₹3–₹69) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -28.4% · Defaults: ROE=15%

*Investments are subject to market risks

Investment Snapshot

51
Sadbhav Infrastructure Projects Ltd scores 51/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health25/100 · Weak
ROCE 14.0% GoodROE 0.0% WeakD/E 49.99 High debtInterest Coverage 0.0x RiskyProfitable 0/5 years Inconsistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 70.3% Stable
Earnings Quality55/100 · Moderate
OPM expanding (33% → 53%) ImprovingWorking capital: 189 days Capital intensive
Quarterly Momentum70/100 · Strong
Revenue (4Q): +14% YoY GrowingOPM: 72.0% (up 5.0% YoY) Margin expansion
Industry Rank70/100 · Strong
P/E 2.4 vs industry 60.1 Cheaper than peersROCE 14.0% vs industry 9.8% Above peers3Y sales CAGR: -10% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:36 am

Market Cap 75.4 Cr.
Current Price 2.14
Intrinsic Value₹23.96
High / Low 5.70/2.05
Stock P/E2.44
Book Value 14.8
Dividend Yield0.00 %
ROCE14.0 %
ROE%
Face Value 10.0
PEG Ratio-0.09

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Sadbhav Infrastructure Projects Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Sadbhav Infrastructure Projects Ltd 75.4 Cr. 2.14 5.70/2.052.44 14.80.00 %14.0 %% 10.0
Artefact Projects Ltd 42.3 Cr. 58.2 82.0/52.05.87 94.00.86 %13.4 %11.7 % 10.0
Brahmaputra Infrastructure Ltd 448 Cr. 154 179/38.56.69 1090.00 %10.8 %11.0 % 10.0
J Kumar Infraprojects Ltd 3,449 Cr. 456 766/4258.59 4190.88 %20.0 %13.8 % 5.00
Dilip Buildcon Ltd 6,605 Cr. 407 588/37610.1 3550.25 %14.8 %9.97 % 10.0
Industry Average1,557.11 Cr105.1560.1390.100.22%9.84%14.41%8.15

All Competitor Stocks of Sadbhav Infrastructure Projects Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 185157240161204174167163174200186181206
Expenses 85641357412311474635876575057
Operating Profit 1009310587806093101116123129131148
OPM % 54%59%44%54%39%35%56%62%67%62%69%73%72%
Other Income 415115-250-80-4655730-832725-113
Interest 228-10911112110196838010370899074
Depreciation 15242525262629293030323133
Profit before tax -138329-15-309-127-107-144913-593635-72
Tax % -1%-5%40%-4%-3%-13%15%5%50%22%27%28%28%
Net Profit -137345-21-296-123-94-16477-722625-92
EPS in Rs -3.899.71-0.66-8.52-3.53-2.71-0.591.01-0.11-2.440.340.30-3.10

Last Updated: March 3, 2026, 3:00 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 4:16 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 3715111,9711,3482,2623,5482,2701,281962825779704773
Expenses 1292271,3204791,2182,5001,414899775446446270240
Operating Profit 2422846518691,0441,048856382187379333434533
OPM % 65%56%33%64%46%30%38%30%19%46%43%62%69%
Other Income 22409956602361,815372723-131-3619-143
Interest 3555269771,0561,1411,1751,276877850547429335323
Depreciation 921421362212612962931179886101118127
Profit before tax -184-343-363-352-297-1871,103-240-38-386-558-10-60
Tax % 7%1%-3%2%14%32%7%16%-43%-5%-4%235%
Net Profit -196-346-353-360-338-2481,029-278-21-365-533-34-113
EPS in Rs -59.96-11.04-9.67-10.03-9.34-6.9629.35-7.90-0.60-10.65-15.42-2.13-4.90
Dividend Payout % -0%-0%-0%-0%-5%-7%-0%-0%-0%-0%-0%-0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-76.53%-2.02%-1.98%6.11%26.63%514.92%-127.02%92.45%-1638.10%-46.03%93.62%
Change in YoY Net Profit Growth (%)0.00%74.51%0.04%8.09%20.52%488.29%-641.94%219.46%-1730.54%1592.07%139.65%

Sadbhav Infrastructure Projects Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:3%
5 Years:-21%
3 Years:-10%
TTM:3%
Compounded Profit Growth
10 Years:6%
5 Years:13%
3 Years:%
TTM:107%
Stock Price CAGR
10 Years:%
5 Years:-25%
3 Years:-15%
1 Year:-45%
Return on Equity
10 Years:%
5 Years:%
3 Years:%
Last Year:%

Last Updated: September 5, 2025, 1:15 pm

Balance Sheet

Last Updated: December 10, 2025, 3:21 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 26311352352352352352352352352352352352
Reserves 792470103-281-618-901114-165-123-517-919-898-875
Borrowings 4,9986,3428,0228,3208,7199,8535,9126,3035,1504,0723,2933,2083,084
Other Liabilities 2,8062,7651,7602,0433,1123,6732,9193,2533,5383,7932,7932,5782,544
Total Liabilities 8,6229,88810,23710,43511,56612,9789,2979,7438,9187,6995,5195,2405,104
Fixed Assets 7,0497,1858,1379,5419,2929,2334,0313,94221918915411495
CWIP 7771,9381,57918328993969600000
Investments 105826564298724726176122414141
Other Assets 6917564956551,9433,5534,4464,9798,5237,3885,3245,0854,969
Total Assets 8,6229,88810,23710,43511,56612,9789,2979,7438,9187,6995,5195,2405,104

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 325264749777603192285769-1951,6431,265606
Cash from Investing Activity + -939-1,096-1,145-258-98-201253851,087-191-29-299
Cash from Financing Activity + 615947315-556-50025-554-813-869-1,528-1,246-315
Net Cash Flow 0116-80-37517-164223-75-10-8
Free Cash Flow -652-760-432550489882727411,2551,5861,264606
CFO/OP 139%95%116%89%60%23%36%205%-101%443%388%150%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow238.00278.00643.00861.00-7.00-8.00851.00376.00182.00375.00330.00431.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 141010035115121823
Inventory Days
Days Payable
Cash Conversion Cycle 141010035115121823
Working Capital Days -737-602-175-207-86-150-59-347-316-287-255189
ROCE %3%2%7%8%10%10%11%9%16%12%10%14%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 70.34%70.34%70.34%70.34%70.34%70.31%69.75%70.26%70.26%70.26%70.26%70.26%
FIIs 0.06%0.06%0.06%0.06%0.06%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
DIIs 0.66%0.66%0.66%0.66%0.66%0.66%0.66%0.53%0.39%0.39%0.35%0.12%
Public 28.94%28.93%28.93%28.93%28.93%29.03%29.59%29.23%29.37%29.36%29.39%29.63%
No. of Shareholders 43,99442,97942,22742,11145,49646,90448,97251,69752,11751,83652,88352,613

Shareholding Pattern Chart

No. of Shareholders

Sadbhav Infrastructure Projects Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HDFC Value Fund 293,284 0 0.1410,5872026-02-23 04:39:06-28.57%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) -2.13-15.42-10.65-0.60-7.90
Diluted EPS (Rs.) -2.13-15.42-10.65-0.60-7.90
Cash EPS (Rs.) 2.37-12.26-7.902.17-4.58
Book Value[Excl.RevalReserv]/Share (Rs.) -17.00-19.38-8.252.653.23
Book Value[Incl.RevalReserv]/Share (Rs.) -17.00-19.38-8.252.653.23
Revenue From Operations / Share (Rs.) 19.9822.1123.4127.3236.36
PBDIT / Share (Rs.) 13.8912.2418.3730.1520.18
PBIT / Share (Rs.) 10.559.3615.9127.3816.86
PBT / Share (Rs.) -0.29-15.85-10.95-1.07-6.82
Net Profit / Share (Rs.) -0.97-15.14-10.36-0.60-7.90
NP After MI And SOA / Share (Rs.) -2.13-15.42-10.65-0.59-7.90
PBDIT Margin (%) 69.5055.3378.44110.3655.48
PBIT Margin (%) 52.7942.3267.95100.2146.36
PBT Margin (%) -1.45-71.66-46.74-3.90-18.75
Net Profit Margin (%) -4.86-68.46-44.24-2.21-21.72
NP After MI And SOA Margin (%) -10.65-69.72-45.48-2.18-21.72
Return on Networth / Equity (%) 0.000.000.00-11.95-244.54
Return on Capital Employeed (%) 434.4272.8834.3232.589.01
Return On Assets (%) -1.43-9.84-4.87-0.23-2.85
Long Term Debt / Equity (X) -1.07-1.50-7.9315.3044.25
Total Debt / Equity (X) -5.36-5.31-18.6329.2849.99
Asset Turnover Ratio (%) 0.130.110.090.030.03
Current Ratio (X) 0.830.890.920.870.59
Quick Ratio (X) 0.830.890.920.870.59
Interest Coverage Ratio (X) 1.461.011.181.250.81
Interest Coverage Ratio (Post Tax) (X) 1.040.821.061.150.63
Enterprise Value (Cr.) 3286.723431.514050.915214.366277.26
EV / Net Operating Revenue (X) 4.674.414.915.424.90
EV / EBITDA (X) 6.727.966.264.918.83
MarketCap / Net Operating Revenue (X) 0.210.310.120.320.53
Price / BV (X) -0.24-0.39-0.481.806.07
Price / Net Operating Revenue (X) 0.210.310.120.320.53
EarningsYield -0.50-2.22-3.53-0.06-0.40

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Sadbhav Infrastructure Project Ltd. is a Public Limited Listed company incorporated on 18/01/2007 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L45202GJ2007PLC049808 and registration number is 049808. Currently Company is involved in the business activities of Construction and maintenance of motorways, streets, roads, other vehicular and pedestrian ways, highways, bridges, tunnels and subways. Company's Total Operating Revenue is Rs. 0.00 Cr. and Equity Capital is Rs. 352.23 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Infrastructure - GeneralSadbhav House, Opp. Law Garden Police Chowki, Ahmedabad Gujarat 380006Contact not found
Management
NamePosition Held
Mr. Shashin V PatelChairman & Wholetime Director
Mr. Jatin J ThakkarExecutive Director & CFO
Mrs. Shefali M PatelIndependent Director
Mr. Ambalal C PatelIndependent Director
Dr. Tarang M DesaiIndependent Director

FAQ

What is the intrinsic value of Sadbhav Infrastructure Projects Ltd and is it undervalued?

As of 15 April 2026, Sadbhav Infrastructure Projects Ltd's intrinsic value is ₹23.96, which is 1019.63% higher than the current market price of ₹2.14, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (%), book value (₹14.8), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Sadbhav Infrastructure Projects Ltd?

Sadbhav Infrastructure Projects Ltd is trading at ₹2.14 as of 15 April 2026, with a FY2026-2027 high of ₹5.70 and low of ₹2.05. The stock is currently near its 52-week low. Market cap stands at ₹75.4 Cr..

How does Sadbhav Infrastructure Projects Ltd's P/E ratio compare to its industry?

Sadbhav Infrastructure Projects Ltd has a P/E ratio of 2.44, which is below the industry average of 60.13. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Sadbhav Infrastructure Projects Ltd financially healthy?

Key indicators for Sadbhav Infrastructure Projects Ltd: ROCE of 14.0 % is moderate; ROE of % is below ideal levels (industry average: 14.41%). Dividend yield is 0.00 %.

Is Sadbhav Infrastructure Projects Ltd profitable and how is the profit trend?

Sadbhav Infrastructure Projects Ltd reported a net profit of ₹-34 Cr in Mar 2025 on revenue of ₹704 Cr. Compared to ₹-21 Cr in Mar 2022, the net profit shows a mixed trend.

Does Sadbhav Infrastructure Projects Ltd pay dividends?

Sadbhav Infrastructure Projects Ltd has a dividend yield of 0.00 % at the current price of ₹2.14. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Sadbhav Infrastructure Projects Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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