SALZERELEC
Salzer Electronics Limited
If management delivers what it guided
arithmetic on filed guidance and past valuations · not a price target
SALZERELEC
FY26 → FY27 · 1 year of guidance · ~0.7 years from today₹582 today
BEAR
₹447
-23%
41.6% a year · 10.4x exit
BASE
₹821
+41%
72% a year · 15.7x exit
BULL
₹1,850
+218%
97.8% a year · 30.7x exit
Where the market has priced it
4x19x today33x
- the last 3 years priced this company 94% above its ten-year median (30x vs 16x) — the exit multiple here is the ten-year one, so a sustained re-rating would not be captured
- the range is unusually wide — read it as the span of management's own claim, not as a forecast
- this company's own median multiple sits 44% below its filed-industry peers; the scenario uses its own
How these numbers are produced
| Earnings base | FY26 fiscal year EPS ₹30.44 (screener) |
|---|---|
| Guided growth | 72% a year, said on the call of 30-May-2026 · transcript |
| Read across as | operating: guided margin x own realised revenue CAGR — medium confidence |
| Delivery calibration | 0.58x / 1x / 1.36x of what was guided — measured: 76 annual guided-vs-filed pairs + 77 near-complete quarterly years — NSE transcripts against the companies' own filings |
| Exit multiple | 10.38x / 15.69x / 30.72x, this company’s own p20 / median / p80 across 10 filed years |
| Filed-industry peers | median 28.1x across 21 peers — the cross-check, not the input |
| Arithmetic | base EPS × (1 + guided growth × delivery)1 × exit multiple |
Arithmetic on management’s own guidance and this company’s own past valuations. Not a price target, not a recommendation, and not a forecast of what the stock will do.
What management said
from NSE earnings-call filings · extracted, not interpreted
ebitda margin 9.5–10%
Rajesh Doraiswamy Actually, a couple of quarters before we had guided that we will definitely reach 9.5-10% EBITDA margin.
Call 30-May-2026 · bridge confidence medium · transcript PDF