A2Z Infra Engineering Limited (A2ZINFRA.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-599.4%

-₹65.47

vs ₹13.11 price

Levered DCF

₹60.56

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	62.76×	27.86×	-42.97×	-0.95×	-0.94×	-0.81×	-0.2×	1×
P/B	5.6×	5.54×	7.53×	3.05×	1.07×	0.2×	0.13×	0.45×
P/S	0.72×	0.74×	0.62×	0.33×	0.48×	0.16×	0.08×	0.35×
EV / EBITDA	18.71×	13.56×	75.47×	-4.91×	-3.92×	-52.34×	-3.1×	1.95×
Gross margin	65.2%	-15.2%	55.2%	61.7%	45.8%	43.1%	39.2%	44.9%
Operating margin	1.0%	-18.6%	-13.8%	-1.9%	-39.6%	-9.0%	-17.0%	-18.0%
Net margin	1.1%	2.7%	-1.5%	-35.2%	-50.9%	-19.6%	-39.6%	35.1%
Current ratio	0.83×	0.77×	0.72×	0.79×	0.81×	0.9×	0.94×	1.03×
Debt / equity	1.95×	2.03×	6.15×	8.24×	2.48×	1.56×	1.16×	0.64×
Interest coverage	0.53×	-7.86×	-8.64×	-0.49×	-5.02×	-0.62×	-1.97×	-2.61×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	8.8%	19.9%	-17.7%	-323.0%	-113.1%	-24.0%	-67.1%	44.5%
Return on invested capital	1.6%	-4.0%	-19.4%	-1.6%	-22.5%	-4.1%	-12.7%	-13.4%
Return on assets	0.9%	1.8%	-0.8%	-12.4%	-12.6%	-4.3%	-13.9%	14.0%
Free cash flow yield	-6.6%	20.3%	35.0%	41.8%	21.5%	-16.0%	-58.2%	26.2%
Earnings yield	1.6%	3.6%	-2.4%	-105.7%	-105.9%	-123.0%	-499.2%	99.5%
Enterprise value	₹3.7B	₹3.4B	₹4.4B	₹4.2B	₹5.5B	₹5.8B	₹5.2B	₹7.3B
Net debt / EBITDA	4.71×	3.52×	33.81×	-3.55×	-2.72×	-46.37×	-2.77×	1.13×
Cash conversion cycle (days)	-479	-60	-346	-511	-208	66	-20	-7