Aartech Solonics Limited (AARTECH.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

-111.8%

-₹4.97

vs ₹42.20 price

Levered DCF

-₹25.43

After debt service

Piotroski score

4 / 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	27.84×	58.99×	130.9×	86.96×	44.47×	495.94×	-652.17×	244.56×
P/B	3.21×	5.12×	5.78×	4.31×	4.44×	5.11×	5.14×	5.05×
P/S	2.76×	4.43×	5.21×	5.73×	7.61×	11.66×	12.59×	9.07×
EV / EBITDA	15.42×	-768.83×	51.28×	47.08×	31.81×	129.43×	328.77×	154.71×
Gross margin	31.1%	51.3%	34.5%	41.4%	45.5%	42.5%	43.3%	36.4%
Operating margin	13.7%	27.5%	19.2%	20.7%	13.4%	0.7%	-2.4%	14.6%
Net margin	9.9%	7.5%	4.0%	6.6%	17.1%	2.4%	-1.9%	3.7%
Current ratio	2.85×	3.15×	2.71×	3.43×	5.07×	5.17×	4.35×	11.57×
Debt / equity	0.16×	0.18×	0.14×	0.1×	0.03×	0.04×	0.1×	0.04×
Interest coverage	7.5×	18.27×	11.09×	16.65×	17.04×	0.51×	-1.88×	0×
Dividend yield	0.4%	0.5%	0.3%	0.4%	0.3%	0.3%	0.0%	0.0%
Payout ratio	9.8%	29.1%	40.3%	37.2%	12.6%	140.7%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	11.5%	8.7%	4.5%	4.9%	10.0%	1.0%	-0.8%	2.0%
Return on invested capital	8.7%	26.6%	9.4%	9.7%	6.2%	0.2%	-0.9%	4.2%
Return on assets	8.0%	6.4%	3.2%	3.9%	8.7%	0.9%	-0.7%	1.8%
Free cash flow yield	-1.3%	-1.2%	0.5%	-4.3%	1.3%	-1.3%	1.0%	-1.6%
Earnings yield	3.6%	1.7%	0.8%	1.1%	2.3%	0.2%	-0.2%	0.4%
Enterprise value	₹1.1B	₹1.6B	₹1.7B	₹1.3B	₹1.2B	₹1.3B	₹1.3B	₹1.2B
Net debt / EBITDA	0.29×	-15.26×	0.55×	0.53×	-0.1×	0.61×	4.05×	-3.87×
Cash conversion cycle (days)	200	196	144	207	168	257	240	197