Aayush Wellness Limited (AAYUSH.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

+432.4%

₹134.91

vs ₹25.34 price

Levered DCF

-₹90.11

After debt service

Piotroski score

3 / 9

Weak

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	33.77×	82.93×	99.58×	-18.69×	-4.07×	19.93×	5.19×	10.79×
P/B	10.96×	33.61×	7.91×	0.99×	1.2×	0.83×	0.5×	1.15×
P/S	0.86×	3.79×	64.48×	0.54×	0.33×	0.04×	0.03×	0.05×
EV / EBITDA	30.85×	79.92×	65.38×	-14.73×	-6.93×	4.52×	6.8×	4.77×
Gross margin	2.9%	6.0%	99.4%	6.2%	2.2%	12.1%	9.8%	6.1%
Operating margin	1.2%	4.7%	59.4%	-10.2%	-11.1%	1.3%	1.5%	0.1%
Net margin	2.6%	4.6%	94.8%	-4.2%	-11.9%	0.3%	0.5%	0.5%
Current ratio	14.32×	4.65×	8.01×	36.38×	7.52×	1.3×	1.59×	1.2×
Debt / equity	0.39×	0.01×	0×	0×	1.04×	0.32×	1.81×	0.14×
Interest coverage	276.89×	34.86×	1,022.86×	-13.13×	-2.83×	2.05×	2.46×	1.45×
Dividend yield	0.1%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	3.0%	1.4%	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	32.5%	40.6%	11.6%	-7.8%	-43.7%	6.2%	9.8%	10.5%
Return on invested capital	9.6%	41.1%	7.0%	-18.7%	-19.8%	15.5%	7.7%	1.6%
Return on assets	22.7%	38.9%	11.4%	-7.7%	-18.6%	1.2%	1.3%	1.7%
Free cash flow yield	-2.1%	0.2%	-1.5%	106.1%	-47.4%	114.1%	-316.9%	-40.9%
Earnings yield	3.0%	1.2%	1.5%	-7.9%	-36.6%	7.5%	19.4%	9.1%
Enterprise value	₹1.4B	₹2.8B	₹388.3M	₹37.3M	₹98.6M	₹75.8M	₹115.8M	₹48.8M
Net debt / EBITDA	0.56×	-0.11×	-0.09×	2.44×	-2.94×	1.15×	4.92×	-1.73×
Cash conversion cycle (days)	1	1	12	60	179	12	40	6