AAA Technologies Limited (AAATECH.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

-23.1%

₹87.34

vs ₹113.63 price

Levered DCF

₹216.65

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

B-

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	55.38×	27.44×	33.34×	19.37×	25.27×	26.98×	0.44×	17.89×
P/B	3.69×	3.12×	3.83×	2.19×	1.64×	0.91×	0.16×	5.51×
P/S	5.61×	3.78×	4.5×	2.42×	2.73×	1.85×	0.11×	3.57×
EV / EBITDA	35.81×	20.42×	20.23×	13.27×	10.99×	8.6×	-0.04×	12.12×
Gross margin	49.1%	64.7%	77.7%	76.4%	74.8%	71.8%	80.1%	80.3%
Operating margin	6.6%	12.3%	14.3%	14.5%	20.9%	13.3%	34.4%	27.1%
Net margin	10.1%	13.8%	13.5%	12.5%	16.2%	10.3%	26.1%	19.9%
Current ratio	18.86×	18.11×	19.5×	11.33×	6.89×	7.64×	3.31×	3.1×
Debt / equity	0×	0×	0×	0×	0×	0×	0×	0.08×
Interest coverage	0×	323.75×	227.03×	639.25×	198.08×	43.75×	67.84×	43.27×
Dividend yield	1.7%	0.7%	0.6%	0.8%	1.1%	0.8%	12.6%	0.5%
Payout ratio	93.3%	18.3%	20.0%	14.9%	18.3%	14.8%	5.5%	9.8%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	6.7%	11.4%	11.5%	11.3%	9.8%	5.1%	36.2%	30.7%
Return on invested capital	3.2%	7.6%	9.1%	9.8%	10.4%	4.7%	35.6%	27.7%
Return on assets	6.3%	10.8%	10.9%	10.4%	8.4%	4.4%	26.0%	21.9%
Free cash flow yield	3.6%	1.4%	7.0%	6.5%	9.7%	-36.0%	67.0%	0.8%
Earnings yield	1.8%	3.6%	3.0%	5.2%	5.9%	5.6%	229.0%	5.6%
Enterprise value	₹1.1B	₹734.9M	₹1B	₹537.9M	₹314.9M	₹147.1M	-₹2.2M	₹371.1M
Net debt / EBITDA	-1.26×	-6.34×	-0.48×	-0.46×	-2.74×	-3.31×	-0.36×	0.06×
Cash conversion cycle (days)	103	110	94	121	233	393	362	225