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The Sandesh Limited (SANDESH) Fair Value & Analysis

Communication Services · IN · Market cap ₹7.4B

TS The Sandesh Limited SANDESH · NSE
Price₹1,061
Fair Value₹1,296
Upside+22.2%
Quality53/100
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Expensive Growth
Solidly profitable · 19.7% net margin
negative free cash flow
Ranks above peers (8/12)
Moderate moat 61/100
Evidence: High Range ₹1,119 – ₹1,296 Share as image

Fair value as of: Aug 13, 2026

From 16 valuation models · updated 5 days ago

Share price +9.3% over the past month.

A solid business, screening 22% undervalued on our models.

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What matters now

  • The price is below even our cautious bear case (₹1,119). The market is more pessimistic than our downside scenario.
  • Solid quality (53/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

₹1,961 ₹637.74 Fair Value ₹1,296 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹637.74 – ₹1,961 · fair‑value band ₹1,119 – ₹1,296 · the ₹1,061 price screens below the ₹1,296 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

The Sandesh Limited (SANDESH) currently trades at ₹1,061, while our model-based Fair Value estimate is ₹1,296, implying the stock looks roughly 22.2% undervalued today. The Quality Score stands at 53/100 (solid quality), in the Communication Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, The Sandesh Limited generated revenue of ₹3.7B at a net margin of 19.7%. Revenue grew 2.6% year over year. It earns a return on equity of 3.6%. The balance sheet holds a net cash position of ₹641M. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹1,119 (bear case) to ₹1,296 (bull case); at ₹1,061, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 26% below its 52-week high and 31% above its 52-week low, currently above its 200-day average. For context, the median of 10 Communication Services peers we cover trades at 9% fair-value upside, at 22%, SANDESH screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income ₹1,398 ₹1,380 ₹1,250 76
Gordon GGM ₹21.96 ₹42.99 ₹66.25 70
Growth-Adj P/E ₹1,119 ₹1,599 ₹2,078 68
All 16 models by family
DCF Models
Owner Earnings ₹1,007 ₹1,426 ₹2,014 31
Earnings-Based
Graham-Dodd ₹591.50 ₹1,556 ₹2,032 54
PEG = 1.0 ₹298.36 ₹426.23 ₹554.10 46
EPV ₹761.52 ₹868.39 ₹960.59 59
Dividend Discount
Gordon GGM ₹21.96 ₹42.99 ₹66.25 70
DDM Multi-Stage ₹21.96 ₹33.31 ₹44.98 61
Multiples
P/E Multiple ₹1,435 ₹1,914 ₹2,392 63
P/S Multiple ₹1,109 ₹1,479 ₹1,848 58
P/B Multiple ₹1,109 ₹1,479 ₹1,848 55
EV/EBIT ₹1,449 ₹1,903 ₹2,358 53
EV/EBITDA ₹1,191 ₹1,560 ₹1,929 54
EV/Revenue ₹1,119 ₹1,562 ₹2,006 43
Asset-Based
NCAV (Graham) ₹942.91 ₹1,264 ₹1,886 50
Economic Profit
Residual Income ₹1,398 ₹1,380 ₹1,250 76
ROIC Compounder ₹761.52 ₹868.39 ₹960.59 67
Growth Earnings
Growth-Adj P/E ₹1,119 ₹1,599 ₹2,078 68

Widest divergence: Growth Earnings (₹1,599) versus Dividend Discount (₹33.31). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) ₹3.7B
Revenue growth (YoY) +2.6%
Net margin 19.7%
Return on equity 3.6%
Free cash flow −₹1.3B FY2026
P/E ratio 12.2
More key figures
Operating margin 35.7%
EPS (TTM) ₹86.94
EPS growth (YoY) -3.0%
Net cash ₹641M FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 53/100

Of which business quality 48 · Market factors (momentum, volatility) 47

Profitability 33
Margins and returns on capital today
Quality Growth 47
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 83
Balance sheet, leverage, solvency risk
Investment 64
Disciplined investing over empire-building
Low Volatility 81
Calm price path (market factor)
Momentum 35
Price trend over the last 3–12 months (market factor)
52W Momentum 27
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

The Sandesh Limited, together with its subsidiary, Sandesh Digital Private Limited, engages in the editing, printing, and publishing of newspapers and periodicals in India. It operates in two segments, Media and Finance. The company publishes SANDESH, a Gujarati daily newspaper; and operates Sandesh News, a Gujarati news channel.

Full company description

The Sandesh Limited, together with its subsidiary, Sandesh Digital Private Limited, engages in the editing, printing, and publishing of newspapers and periodicals in India. It operates in two segments, Media and Finance. The company publishes SANDESH, a Gujarati daily newspaper; and operates Sandesh News, a Gujarati news channel. It also provides news, videos, and advertisements on digital platforms; out-of-home media solutions; and finance services. In addition, the company sells real estate, waste papers, and scraps. The Sandesh Limited was founded in 1923 and is based in Ahmedabad, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

The Sandesh Limited reported revenue of ₹4.4B in FY2026 versus ₹3.1B in FY2022, a compound +9.5%/yr. Reported net income was ₹658M in FY2026, compounding −7.5%/yr from FY2022.

Growth Quality 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹4.4B
Latest YoY
+53.4%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+10.7%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+11.9%
Avg. growth/yr (20Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+6.2%
Revenue +9.5%/yr
FY22 ₹3.1B
FY23 ₹3.2B
FY24 ₹3.2B
FY25 ₹2.9B
FY26 ₹4.4B
Net income −7.5%/yr
FY22 ₹898M
FY23 ₹1.0B
FY24 ₹1.9B
FY25 ₹771M
FY26 ₹658M
Character of growth · EPS growth decomposed (2015-2026) +5.2 % p.a.
Revenue per share −0.3 pp

of which total revenue −0.3 pp · buybacks/dilution +0.0 pp

EBIT margin +0.5 pp
Tax rate +1.8 pp
Residual (interest, one-offs) +3.2 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "The Sandesh Limited Fair Value". https://www.fairvalue-calculator.com/stock/SANDESH

Peer Group

Publishing · 112 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 53 · Below median
Fair Value upside +22% · Above median
Return on equity (TTM) 4% · Below median
Return on assets 2% · Above median
Net margin (TTM) 20% · Top 25%
Operating margin (TTM) 36% · Top 25%
Revenue growth 3% · Above median
Dividend yield (TTM) 0.3% · Bottom 25%

Valuation Multiples vs Publishing median · lower = cheaper

P/E (TTM) 12.2× · Cheaper than median
P/B 0.52× · Cheaper than 75% of peers
P/S (TTM) 2.03× · Pricier than 75% of peers
EV/EBITDA 5.9× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 63 · sector 37
FUTURE 13 · sector 0
PAST 15 · sector 20
HEALTH 0 · sector 100
DIVIDEND 5 · sector 57

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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10 more Publishing stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

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Frequently asked questions

Is The Sandesh Limited (SANDESH) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹1,296 versus a price of ₹1,061, about +22% (undervalued).
What is the fair value of SANDESH?
Our model-based fair value for The Sandesh Limited is ₹1,296 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹1,061.
What is the quality score of SANDESH?
The Sandesh Limited has a Quality Score of 53/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of The Sandesh Limited (SANDESH)?
The Sandesh Limited reported trailing-twelve-month revenue of about ₹3.7B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of SANDESH?
The net profit margin of The Sandesh Limited is about 19.7%, meaning it keeps roughly 19.7% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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