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Smartlink Holdings Limited (SMARTLINK) Fair Value & Analysis

Technology · IN · Market cap ₹1.8B

SH Smartlink Holdings Limited SMARTLINK · NSE
Price₹223.76
Fair Value₹251.25
Upside+12.3%
Quality64/100
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Healthy Growth
Thin margins · 4.7% net margin
Low debt · generates free cash flow
Ranks above peers (13/14)
Narrow moat 37/100
Evidence: High Range ₹161.78 – ₹333.92 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 4 days ago

Fair value updated Aug 13, 2026, revised from ₹204.01 to ₹251.25 (+23.2%) since Aug 8, 2026. Share price +7.5% over the past month.

A solid business, screening 12% undervalued on our models.

What matters now

  • A fairly wide model range (₹161.78 to ₹333.92) leaves room in how you read the outcome.
  • Our model range runs from ₹161.78 (bear) to ₹333.92 (bull), base ₹251.25. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 64/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

₹338.85 ₹85.00 Fair Value ₹251.25 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 ₹85.00 – ₹338.85 · fair‑value band ₹161.78 – ₹333.92 · the ₹223.76 price screens below the ₹251.25 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Smartlink Holdings Limited (SMARTLINK) currently trades at ₹223.76, while our model-based Fair Value estimate is ₹251.25, implying the stock looks roughly 12.3% undervalued today. The Quality Score stands at 64/100 (solid quality), in the Technology 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, Smartlink Holdings Limited generated revenue of ₹2.8B at a net margin of 4.7%. Revenue grew 34.7% year over year. It earns a return on equity of 6.5%. The balance sheet holds a net cash position of ₹91.2M. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹161.78 (bear case) to ₹333.92 (bull case); at ₹223.76, the current price sits within 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 near its 52-week high and 116% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -50% fair-value upside, at 12%, SMARTLINK 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
Growth DCF ₹166.27 ₹249.62 ₹365.15 80
Residual Income ₹155.55 ₹155.50 ₹146.25 76
Rev-Margin DCF ₹129.21 ₹197.60 ₹283.00 74
All 26 models by family
DCF Models
FCF DCF ₹167.53 ₹259.70 ₹394.36 38
Owner Earnings ₹146.90 ₹226.97 ₹343.94 31
5Y Revenue Exit ₹129.21 ₹197.28 ₹285.49 39
5Y EBITDA Exit ₹182.89 ₹304.26 ₹452.08 41
5Y P/E Exit ₹224.74 ₹387.64 ₹568.93 38
10Y Revenue Exit ₹139.78 ₹204.56 ₹295.73 36
10Y EBITDA Exit ₹174.60 ₹274.82 ₹419.00 37
10Y P/E Exit ₹199.63 ₹329.59 ₹505.48 35
Earnings-Based
Graham-Dodd ₹89.61 ₹368.79 ₹502.38 54
Lynch FV ₹92.80 ₹132.58 ₹172.35 50
PEG = 1.0 ₹92.80 ₹132.58 ₹172.35 46
EPV ₹61.06 ₹67.96 ₹73.70 59
Dividend Discount
Gordon GGM ₹0.1800 ₹0.3300 ₹0.4500 70
DDM Multi-Stage ₹0.1800 ₹0.3000 ₹0.3500 61
Multiples
P/E Multiple ₹276.75 ₹369.00 ₹461.25 63
P/S Multiple ₹168.03 ₹224.03 ₹280.04 58
P/B Multiple ₹168.03 ₹224.03 ₹280.04 55
EV/EBIT ₹205.35 ₹270.30 ₹335.26 53
EV/EBITDA ₹212.23 ₹279.49 ₹346.74 54
EV/Revenue ₹108.99 ₹151.22 ₹193.44 43
Asset-Based
NCAV (Graham) ₹105.16 ₹140.92 ₹210.33 50
Growth DCF
Growth DCF ₹166.27 ₹249.62 ₹365.15 80
Rev-Margin DCF ₹129.21 ₹197.60 ₹283.00 74
Economic Profit
Residual Income ₹155.55 ₹155.50 ₹146.25 76
ROIC Compounder ₹61.06 ₹67.96 ₹73.70 72
Growth Earnings
Growth-Adj P/E ₹190.92 ₹272.75 ₹354.57 68

Widest divergence: Growth Earnings (₹272.75) versus Dividend Discount (₹0.3000). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹2.8B
Revenue growth (YoY) +34.7%
Net margin 4.7%
Return on equity 6.5%
Free cash flow ₹154M FY2026
P/E ratio 17.0
More key figures
Operating margin 9.4%
EPS (TTM) ₹13.18
EPS growth (YoY) +79.3%
Net cash ₹91.2M FY2026

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

Quality Score breakdown

Overall quality 64/100

Of which business quality 62 · Market factors (momentum, volatility) 84

Profitability 36
Margins and returns on capital today
Quality Growth 67
Are margins and returns improving?
Cashflow 53
Earnings quality: real cash, not paper profit
Fin. Strength 71
Balance sheet, leverage, solvency risk
Investment 84
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 91
Price trend over the last 3–12 months (market factor)
52W Momentum 93
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

Smartlink Holdings Limited, together with its subsidiaries, sources, develops, manufactures, markets, distributes, and services networking products in India and internationally.

Full company description

Smartlink Holdings Limited, together with its subsidiaries, sources, develops, manufactures, markets, distributes, and services networking products in India and internationally. The company offers XPON ONUs, EPON/ GPON OLTs, GEPON OLTs, and PON transceivers; Wi-Fi 6 indoor/outdoor/enterprise access points, controllers, USB adapters, and range extenders; switching solutions, such as managed, unmanaged, fully managed, lite/smart managed switches, chassis switches, industrial switches, transceivers, media converters, and multigig switches; and structured cabling products, including solid cable, keystones, patch panels, copper patch cords, faceplates, rj45 connectors, fiber patch cords, pigtails, fiber LIUS, fiber cables, distribution boxes, and splitters. It also manufactures chargers for electric vehicles; and telecom equipment and defense electronics. In addition, it offers networking products, such as switches, broadband routers, wireless LANs, and GPON and GePON under the DIGISOL brand name; and enterprise wireless products. Further, the company provides technical support services; and invests in securities and properties. It serves distributors, original equipment manufacturers, and system integrators. The company was formerly known as Smartlink Network Systems Limited and changed its name to Smartlink Holdings Limited in April 2018. Smartlink Holdings Limited was incorporated in 1993 and is based in Mumbai, India.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Smartlink Holdings Limited reported revenue of ₹2.7B in FY2026 versus ₹657M in FY2022, a compound +42.3%/yr. Reported net income was ₹131M in FY2026, compounding +6.1%/yr from FY2022.

Growth Quality 85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹2.7B
Latest YoY
+28.3%
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.
+19.4%
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.
+37.3%
Avg. growth/yr (21Y) 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.
−0.2%
Revenue +42.3%/yr
FY22 ₹657M
FY23 ₹1.6B
FY24 ₹1.9B
FY25 ₹2.1B
FY26 ₹2.7B
Net income +6.1%/yr
FY22 ₹104M
FY23 ₹192M
FY24 ₹70.6M
FY25 ₹66.1M
FY26 ₹131M

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Cite: Fair Value Calculator (2026). "Smartlink Holdings Limited Fair Value". https://www.fairvalue-calculator.com/stock/SMARTLINK

Peer Group

Communication Equipment · 300 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 64 · Above median
Fair Value upside +12% · Top 25%
Return on equity (TTM) 6% · Above median
Return on assets 4% · Above median
Net margin (TTM) 5% · Above median
Operating margin (TTM) 9% · Above median
Revenue growth 35% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Communication Equipment median · lower = cheaper

P/E (TTM) 17.0× · Cheaper than 75% of peers
P/B 0.85× · Cheaper than median
P/S (TTM) 0.64× · Cheaper than median
P/FCF 0.1× · Cheaper than 75% of peers
EV/EBITDA 7.5× · Cheaper than 75% of peers

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 50 · sector 0
FUTURE 100 · sector 36
PAST 26 · sector 15
HEALTH 100 · sector 98
DIVIDEND 0 · sector 24

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.

Similar stocks

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

Stock Price Fair Value vs Fair Value
Cisco Systems, Inc CSCO $120.43 $61.53 -49%
Zhongji Innolight Co 300308 ¥921.00 ¥171.09 -81%
Foxconn Industrial Internet Co 601138 ¥65.60 ¥28.65 -56%
Eoptolink Technology Inc 300502 ¥429.90 ¥176.99 -59%
Nokia Oyj NOK $10.32 $3.77 -63%
Motorola Solutions, Inc MSI $469.74 $236.33 -50%
Suzhou TFC Optical Communication Co 300394 ¥240.05 ¥43.67 -82%
Accton Technology Corporation 2345 2,270 TWD 1,135 TWD -50%
Telefonaktiebolaget LM Ericsson (publ), ERICB kr 97.78 kr 157.82 +61%
ZTE Corporation 000063 ¥35.59 ¥19.72 -45%

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Frequently asked questions

Is Smartlink Holdings Limited (SMARTLINK) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹251.25 versus a price of ₹223.76, about +12% (undervalued).
What is the fair value of SMARTLINK?
Our model-based fair value for Smartlink Holdings Limited is ₹251.25 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹223.76.
What is the quality score of SMARTLINK?
Smartlink Holdings Limited has a Quality Score of 64/100. 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 Smartlink Holdings Limited (SMARTLINK)?
Smartlink Holdings Limited reported trailing-twelve-month revenue of about ₹2.8B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of SMARTLINK?
The net profit margin of Smartlink Holdings Limited is about 4.7%, meaning it keeps roughly 4.7% 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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