Aashka Hospitals Limited (AASHKA.BO) 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

-78.8%

₹20.74

vs ₹97.90 price

Levered DCF

-₹7.18

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

12.13

Safe zone

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	41.26×	72.93×	73.96×	-43.68×	42.9×	27.3×	81.44×	82.84×
P/B	1.33×	2.4×	1.81×	1.2×	1.05×	3.84×	4.65×	7.32×
P/S	5.99×	10.54×	7.63×	5.93×	2.56×	2.76×	4.13×	4.06×
EV / EBITDA	27.04×	29.11×	22.24×	41.14×	15.01×	13.79×	15.76×	15.02×
Gross margin	54.9%	52.7%	70.3%	18.6%	30.8%	25.5%	29.0%	31.4%
Operating margin	9.9%	5.9%	68.3%	-14.2%	20.7%	18.1%	22.3%	25.4%
Net margin	14.5%	14.4%	10.3%	-13.6%	6.0%	10.1%	5.1%	4.9%
Current ratio	2.8×	1.29×	0.65×	0.8×	0.82×	1.01×	1.59×	0.57×
Debt / equity	0.08×	0.13×	0.21×	0.31×	0.29×	0.95×	1.28×	2.15×
Interest coverage	1.92×	0.77×	5.37×	-0.9×	3.1×	2.31×	1.3×	1.24×
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	3.2%	3.3%	2.4%	-2.7%	2.4%	14.1%	5.7%	8.9%
Return on invested capital	1.7%	1.0%	11.0%	-2.2%	5.5%	12.8%	10.4%	13.7%
Return on assets	2.9%	2.8%	1.9%	-2.0%	1.8%	6.3%	2.3%	2.5%
Free cash flow yield	2.8%	2.6%	3.7%	0.9%	-66.1%	3.0%	-5.2%	3.7%
Earnings yield	2.4%	1.4%	1.4%	-2.3%	2.3%	3.7%	1.2%	1.2%
Enterprise value	₹1.4B	₹2.5B	₹1.9B	₹1.4B	₹1.3B	₹1.4B	₹1.4B	₹1.4B
Net debt / EBITDA	0.75×	1.17×	2.12×	7.76×	3.17×	2.5×	3.01×	3.29×
Cash conversion cycle (days)	70	59	71	152	73	62	90	36