Aarey Drugs & Pharmaceuticals Limited (AAREYDRUGS.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

-99.9%

₹0.07

vs ₹105.89 price

Levered DCF

-₹50.38

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

—

Rating

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	36.51×	25.78×	24.89×	16.11×	15.24×	15.54×	17.48×	15.48×
P/B	0.96×	0.75×	0.88×	0.52×	0.88×	1.03×	1.1×	1.17×
P/S	0.31×	0.22×	0.29×	0.15×	0.2×	0.29×	0.34×	0.29×
EV / EBITDA	14.58×	11.34×	12.8×	9.37×	8.09×	10.18×	36.58×	14.82×
Gross margin	3.0%	1.9%	3.3%	2.7%	4.0%	3.9%	3.3%	3.9%
Operating margin	0.9%	0.1%	4.9%	2.3%	2.4%	1.1%	0.8%	1.9%
Net margin	0.8%	0.8%	1.2%	0.9%	1.3%	1.9%	1.9%	1.8%
Current ratio	1.81×	2.2×	1.7×	1.61×	1.73×	1.67×	1.81×	2.31×
Debt / equity	0.33×	0.25×	0.24×	0.32×	0.12×	0.18×	0.19×	0.19×
Interest coverage	0.86×	0.08×	4.39×	3.3×	5.78×	1.58×	1.32×	3.22×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.2%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	3.6%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	2.6%	2.9%	3.5%	3.2%	5.8%	6.6%	6.3%	7.6%
Return on invested capital	1.6%	0.1%	10.2%	3.8%	5.9%	2.5%	1.7%	4.8%
Return on assets	1.3%	1.7%	1.5%	1.3%	2.7%	2.8%	3.0%	4.5%
Free cash flow yield	-16.1%	-4.2%	-3.2%	-3.8%	-6.7%	2.6%	1.9%	-0.5%
Earnings yield	2.7%	3.9%	4.0%	6.2%	6.6%	6.4%	5.7%	6.5%
Enterprise value	₹1.9B	₹1.4B	₹1.5B	₹979.4M	₹1.1B	₹1.2B	₹1.2B	₹1.2B
Net debt / EBITDA	3.66×	2.77×	2.61×	3.54×	0.99×	1.49×	5.36×	2×
Cash conversion cycle (days)	68	116	116	118	60	101	49	94