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Sangam (India) Limited (SANGAMIND) Fair Value & Analysis

Consumer Cyclical · IN · Market cap ₹28.6B (≈ $303M) · ISIN INE495C01010

What is Sangam (India) Limited really worth?

SI Sangam (India) Limited SANGAMIND · BSE
Price₹581.00
Fair Value₹282.84
Upside−51.3%
Quality47/100

Below-average quality, and trading another 105% above our fair value of ₹282.84.

As of Aug 23, 2026, the fair value of Sangam (India) Limited is ₹282.84 per share against a price of ₹581.00, so the fair value sits 51% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Moderate debt · generates free cash flow

Risks

!Mixed Growth (revenue 5y +18.6 %/yr)
!Thin margins · 3.7% net margin
!Narrow moat 33/100
Evidence: High Range ₹172.29 – ₹460.66

Fair value as of: Aug 23, 2026

From 23 valuation models · updated 14 days ago

Share price −5.3% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (₹460.66). The favourable scenario is already priced in.
  • The model range is unusually wide (₹172.29 to ₹460.66). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (47/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

₹634.70 ₹76.71 Fair Value ₹282.84 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 23, 2026.

How to read this chart

60‑month range ₹76.71 – ₹634.70 · fair‑value band ₹172.29 – ₹460.66 · the ₹581.00 price screens above the ₹282.84 fair value. Dashed = 300-day average. As of Aug 23, 2026.

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Analysis

Sangam (India) Limited (SANGAMIND) currently trades at ₹581.00, while our model-based Fair Value estimate is ₹282.84, implying the stock looks roughly 105.4% overvalued today. The Quality Score stands at 47/100 (below-average quality), in the Consumer Cyclical sector. Bull case: the Multiples group reads highest at a median of ₹368.53 per share, and 3 of the 23 models we run sit above the ₹581.00 price. Bear case: the Growth DCF group reads lowest at ₹46.26, and 20 of the 23 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Sangam (India) Limited generated revenue of ₹33.1B at a net margin of 3.7%. Revenue grew 8.9% year over year. It earns a return on equity of 7.9%. Net debt stands at ₹12.3B. Fundamentals as of Aug 23, 2026

Our scenario range runs from ₹172.29 (bear case) to ₹460.66 (bull case); at ₹581.00, the current price sits above 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 14% below its 52-week high and 72% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at −36% fair-value upside, at −51%, SANGAMIND screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly ₹10.54 per share, which is 4.0 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
FCF DCF ₹50.25 ₹180.07 77
Residual Income ₹180.22 ₹192.05 ₹213.15 76
Growth DCF ₹46.26 ₹167.39 75
All 23 models by family
DCF Models
FCF DCF ₹50.25 ₹180.07 77
5Y Revenue Exit ₹178.21 ₹461.40 ₹847.25 68
5Y EBITDA Exit ₹263.12 ₹630.97 ₹1,089 72
5Y P/E Exit ₹68.84 ₹242.99 ₹438.47 66
10Y Revenue Exit ₹92.11 ₹336.81 ₹711.47 61
10Y EBITDA Exit ₹161.68 ₹458.85 ₹908.09 63
10Y P/E Exit ₹34.53 ₹179.62 ₹379.61 57
Earnings-Based
Graham-Dodd ₹113.91 ₹470.40 ₹640.98 64
Lynch FV ₹118.55 ₹169.35 ₹220.16 61
PEG = 1.0 ₹118.55 ₹169.35 ₹220.16 57
EPV ₹225.41 ₹285.57 ₹338.22 74
Multiples
P/E Multiple ₹276.39 ₹368.53 ₹460.66 63
P/S Multiple ₹213.58 ₹284.77 ₹355.96 58
P/B Multiple ₹213.58 ₹284.77 ₹355.96 55
EV/EBIT ₹495.05 ₹705.25 ₹915.46 65
EV/EBITDA ₹458.89 ₹657.05 ₹855.20 67
EV/Revenue ₹289.51 ₹471.69 ₹653.87 53
Asset-Based
NCAV (Graham) ₹109.13 ₹146.24 ₹218.26 54
Growth DCF
Growth DCF ₹46.26 ₹167.39 75
Rev-Margin DCF ₹178.21 ₹450.24 ₹787.39 69
Economic Profit
Residual Income ₹180.22 ₹192.05 ₹213.15 76
ROIC Compounder ₹228.71 ₹347.51 ₹510.95 70
Growth Earnings
Growth-Adj P/E ₹209.41 ₹299.15 ₹388.90 67

Widest divergence: Multiples (₹368.53) versus Growth DCF (₹46.26). Highest evidence: FCF DCF (77).

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Key figures & financial health

P/E ratio 24.0
P/S ratio 0.63 P/E × margin
EPS (TTM) ₹24.20 price ÷ EPS = P/E 24.0
Dividend yield 0.4% payout 8.5%
Net margin 2.6% FY2026
Return on equity 7.9% TTM
More key figures
Profitability
Return on assets (EBIT) 10.5% avg 5y
Operating margin 9.3% TTM
Growth
Revenue (TTM) ₹33.1B TTM
Revenue growth (YoY) +8.9% 3y avg +5.2%
EPS growth (YoY) +18.4%
Balance sheet & cash flow
Free cash flow ₹431M FY2026
Net debt ₹12.3B FY2026 · ≈ 28.4 yrs of FCF

Figures from reported company fundamentals · as of Aug 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 47/100

Of which business quality 47 · Market factors (momentum, volatility) 80

Profitability 43
Margins and returns on capital today
Quality Growth 55
Are margins and returns improving?
Cashflow 40
Earnings quality: real cash, not paper profit
Fin. Strength 33
Balance sheet, leverage, solvency risk
Investment 54
Disciplined investing over empire-building
Low Volatility 76
Calm price path (market factor)
Momentum 81
Price trend over the last 3–12 months (market factor)
52W Momentum 85
Distance to the 52-week high (market factor)
Net Issuance 70
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Sangam (India) Limited engages in the manufacture and sale of PV-dyed yarns and denim fabrics in India. Its product portfolio includes PV-blended dyed fabrics, grey yarns, textured yarns, cotton spun yarn, synthetic ring spun yarns, fancy yarns, ring and open-ended cotton yarns, indigo dyed yarns, cotton knitted fabrics, synthetic blended, suiting and …

Full company description

Sangam (India) Limited engages in the manufacture and sale of PV-dyed yarns and denim fabrics in India. Its product portfolio includes PV-blended dyed fabrics, grey yarns, textured yarns, cotton spun yarn, synthetic ring spun yarns, fancy yarns, ring and open-ended cotton yarns, indigo dyed yarns, cotton knitted fabrics, synthetic blended, suiting and shirting fabrics; seamless knitting fabrics; denim fabrics, including basic, twills, broken, satins, shirting, and fancy and regular dobby; and polyester/viscose, polyester/cotton, PV lycra, and polyester woolen fabrics; as well as garments, such as inner wear, active wear, and casual wear for men and women. The company also generates power through solar power plant with an installed capacity of 17MW; thermal power plant of 16MW capacity; and wind power plant with an installed capacity of 5MW. It sells its products under the C9 Air wear, Sangam Suiting, and Sangam Denim brand names. The company also exports its products. Sangam (India) Limited was incorporated in 1984 and is headquartered in Mumbai, India.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Sangam (India) Limited reported revenue of ₹31.6B in FY2026 versus ₹24.2B in FY2022, a compound +6.9%/yr. Reported net income was ₹826M in FY2026, compounding −12.5%/yr from FY2022.

Growth Quality 76/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹31.6B
Latest YoY
+14.0%
Avg. revenue 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.
+5.2%
Avg. revenue 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.
+18.6%
Avg. revenue growth/yr (9Y) 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.
+7.9%
Value creation/yr (5Y, in INR) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
≈ +38.2% (approximate, leans on 2026) · in INR
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+37.8%
Dividend yield0.4%
Trend Two data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y 37.8% vs 10Y 2.3%, picking up
Operating margin (EBIT) Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.4.6% (2020) → 7.3% (2026) · rising
Worst earnings drop79% (2021) · in INR
⚠ Rate leans on 2026: that final year sits 105% above its own trend (e.g. a one-off disposal gain) and could not be adjusted
Revenue +6.9%/yr
FY22 ₹24.2B
FY23 ₹27.1B
FY24 ₹25.5B
FY25 ₹27.7B
FY26 ₹31.6B
Net income −12.5%/yr
FY22 ₹1.4B
FY23 ₹1.3B
FY24 ₹408M
FY25 ₹318M
FY26 ₹826M

SANGAMIND screens 105% overvalued. Compare with Shenzhou International Group →

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Cite: Fair Value Calculator (2026). "Sangam (India) Limited Fair Value". https://www.fairvalue-calculator.com/stock/SANGAMIND.BSE

Peer Group

Textile Manufacturing · 331 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 47 · Below median
Fair Value upside −55% · Below median
Return on equity (TTM) 8% · Above median
Return on assets 4% · Top 25%
Net margin (TTM) 4% · Above median
Operating margin (TTM) 9% · Above median
Revenue growth 9% · Above median
Dividend yield (TTM) 0.4% · Bottom 25%
Debt / equity 0.67× · Higher than 75% of peers

Valuation Multiples vs Textile Manufacturing median · lower = cheaper

P/E (TTM) 24.0× · Pricier than median
P/B 2.65× · Pricier than 75% of peers
P/S (TTM) 0.86× · Pricier than median
P/FCF 0.7× · Pricier than median
EV/EBITDA 9.5× · Pricier than median

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

Similar stocks

10 more Textile Manufacturing stocks, each showing price versus our Fair Value estimate (as of Aug 23, 2026).

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Frequently asked questions

Is Sangam (India) Limited (SANGAMIND) overvalued or undervalued?
As of Aug 23, 2026, our model estimates a fair value of ₹282.84 versus a price of ₹581.00, about −51% upside (overvalued).
What is the fair value of SANGAMIND?
Our model-based fair value for Sangam (India) Limited is ₹282.84 (as of Aug 23, 2026), built from audited fundamentals. The current price: ₹581.00.
What is the quality score of SANGAMIND?
Sangam (India) Limited has a Quality Score of 47/100. 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 price target for Sangam (India) Limited (SANGAMIND)?
Our model-based price target is the fair value of ₹282.84 (as of Aug 23, 2026) from 23 valuation models. Cautious scenario ₹172.29, optimistic scenario ₹460.66. It is a calculation from audited fundamentals, not an analyst target.
What is the Sangam (India) Limited stock forecast for 2026?
Our models put fair value at ₹282.84, about −51% upside versus a price of ₹581.00 (overvalued). Cautious scenario ₹172.29, optimistic scenario ₹460.66. The calculation is refreshed regularly with new filings.
What is the revenue of Sangam (India) Limited (SANGAMIND)?
Sangam (India) Limited reported trailing-twelve-month revenue of about ₹33.1B (latest available figure, as of Aug 23, 2026).
What is the net profit margin of SANGAMIND?
The net profit margin of Sangam (India) Limited is about 3.7%, meaning it keeps roughly 3.7% of revenue as net income. Based on the latest reported figures.
Does Sangam (India) Limited pay a dividend?
Sangam (India) Limited currently shows a dividend yield of about 0.35% relative to its recent price (as of Aug 23, 2026).
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