Accel Limited (ACCEL.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

+144.7%

₹24.15

vs ₹9.87 price

Levered DCF

₹11.70

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

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	9.85×	43.3×	35.68×	23.22×	28.11×	-112.29×	-5.51×	10.03×
P/B	0.77×	1.31×	1.79×	1.06×	1.84×	1.13×	0.51×	0.8×
P/S	0.32×	0.54×	0.7×	0.43×	1.48×	1.27×	3.27×	8.03×
EV / EBITDA	7.58×	8.25×	9.89×	6×	14.44×	17.13×	-13.48×	8.32×
Gross margin	32.3%	35.6%	20.1%	21.5%	27.2%	62.6%	-53.5%	12.1%
Operating margin	3.4%	4.9%	3.9%	27.4%	6.4%	-4.8%	-65.9%	-77.7%
Net margin	3.2%	1.2%	2.0%	1.8%	5.3%	-1.1%	-59.3%	80.2%
Current ratio	0.84×	0.89×	1.02×	0.97×	0.96×	0.95×	1.17×	5.46×
Debt / equity	0.92×	0.97×	1.13×	1.12×	0.78×	0.9×	0.42×	0.09×
Interest coverage	0.86×	1.03×	0.9×	6.05×	1.05×	-0.77×	-7.66×	-12.51×
Dividend yield	3.3%	2.0%	1.5%	2.6%	0.0%	0.0%	0.0%	4.4%
Payout ratio	32.4%	84.8%	52.5%	60.5%	0.0%	0.0%	0.0%	44.4%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	7.8%	3.1%	5.0%	4.5%	6.5%	-1.0%	-9.3%	7.9%
Return on invested capital	4.0%	2.6%	3.3%	11.0%	4.4%	-1.1%	-7.2%	-7.1%
Return on assets	3.0%	1.1%	1.7%	1.6%	3.0%	-0.4%	-6.0%	7.0%
Free cash flow yield	7.5%	9.5%	12.5%	14.0%	0.5%	-57.8%	-78.8%	-14.8%
Earnings yield	10.2%	2.3%	2.8%	4.3%	3.6%	-0.9%	-18.1%	10.0%
Enterprise value	₹1.1B	₹1.5B	₹1.8B	₹1.3B	₹2.3B	₹1.5B	₹509.5M	₹564.9M
Net debt / EBITDA	4.01×	3.46×	3.52×	3.01×	4.25×	7.19×	-5.43×	0.74×
Cash conversion cycle (days)	38	42	52	57	71	-157	23	57