Aarvi Encon Limited (AARVI.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

-243.3%

-₹189.90

vs ₹132.55 price

Levered DCF

-₹150.51

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

B-

Overall 3 / 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	38.93×	15.05×	16.09×	10.52×	14.2×	7.3×	4.36×	7.03×
P/B	4.83×	1.21×	1.56×	1.41×	1.81×	0.9×	0.41×	0.86×
P/S	1.06×	0.3×	0.45×	0.35×	0.59×	0.38×	0.14×	0.29×
EV / EBITDA	29.39×	10.61×	12.24×	8.13×	12.42×	5.29×	3.68×	5.34×
Gross margin	3.2%	26.2%	27.7%	35.1%	27.8%	20.7%	33.2%	30.6%
Operating margin	3.4%	2.3%	2.9%	4.0%	4.3%	4.5%	3.7%	5.0%
Net margin	2.7%	2.0%	2.8%	3.3%	4.2%	5.2%	3.3%	4.2%
Current ratio	2.05×	2.03×	2.56×	2.29×	1.99×	2.6×	1.78×	1.82×
Debt / equity	0.19×	0.21×	0.08×	0.03×	0.07×	0.04×	0.13×	0.12×
Interest coverage	7.63×	3.84×	6.52×	8.36×	10.4×	12.52×	4.34×	7.17×
Dividend yield	0.4%	2.0%	1.6%	1.5%	1.7%	1.9%	5.7%	1.5%
Payout ratio	16.8%	29.4%	26.1%	15.3%	24.5%	14.1%	24.8%	10.3%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	12.4%	8.0%	9.7%	13.4%	12.7%	12.3%	9.4%	12.3%
Return on invested capital	11.1%	6.8%	8.7%	14.3%	11.9%	9.8%	9.1%	10.9%
Return on assets	7.4%	4.7%	6.6%	9.2%	8.1%	8.7%	6.1%	8.1%
Free cash flow yield	0.7%	-8.8%	1.3%	1.3%	-6.6%	21.7%	10.6%	-17.2%
Earnings yield	2.6%	6.6%	6.2%	9.5%	7.0%	13.7%	22.9%	14.2%
Enterprise value	₹7B	₹1.7B	₹1.8B	₹1.5B	₹1.7B	₹635.2M	₹360.2M	₹652.4M
Net debt / EBITDA	0.6×	1.09×	-0.06×	-0.05×	0.1×	-1.07×	0.48×	0.37×
Cash conversion cycle (days)	55	70	87	77	96	102	79	79