ADF Foods Limited (ADFFOODS.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

-47.8%

₹135.75

vs ₹259.95 price

Levered DCF

₹72.03

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	20.41×	38.6×	27.97×	29.05×	32.49×	35.74×	7.96×	21.38×
P/B	3.21×	5.43×	4.77×	3.9×	4.99×	7.18×	1.83×	3.16×
P/S	2.69×	4.53×	4.21×	3.68×	4.21×	5.43×	1.37×	2.34×
EV / EBITDA	12.68×	27.11×	18.11×	17.96×	22.7×	26.09×	6.11×	12.31×
Gross margin	49.7%	57.9%	51.2%	51.7%	48.3%	40.5%	45.4%	48.0%
Operating margin	16.0%	50.8%	17.9%	14.0%	10.7%	15.6%	17.6%	15.5%
Net margin	13.2%	11.7%	15.0%	12.6%	11.9%	13.9%	15.7%	10.9%
Current ratio	3.84×	5.71×	6.67×	7.66×	5.37×	5.29×	3.02×	5.16×
Debt / equity	0.1×	0.12×	0.13×	0.13×	0.2×	0×	0.12×	0×
Interest coverage	40.54×	116.27×	38.28×	23.4×	24.02×	48.64×	35.97×	41.14×
Dividend yield	0.7%	0.7%	2.6%	0.5%	0.4%	0.0%	1.9%	0.0%
Payout ratio	14.7%	28.6%	73.0%	15.7%	12.5%	0.0%	16.9%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	15.7%	14.1%	17.1%	13.4%	14.0%	18.3%	20.9%	14.7%
Return on invested capital	12.7%	39.9%	13.2%	9.4%	7.6%	15.0%	15.7%	13.6%
Return on assets	11.9%	11.0%	13.5%	10.7%	10.2%	15.3%	15.7%	12.4%
Free cash flow yield	-1.3%	-0.1%	2.6%	1.5%	-0.0%	1.6%	3.6%	3.5%
Earnings yield	4.9%	2.6%	3.6%	3.4%	2.8%	2.6%	11.5%	4.7%
Enterprise value	₹18.3B	₹26.7B	₹21B	₹16.5B	₹17.3B	₹19.2B	₹3.8B	₹5.3B
Net debt / EBITDA	-0.07×	-0.07×	-0.03×	0.17×	0.21×	-0.53×	0.07×	-0.33×
Cash conversion cycle (days)	159	138	145	159	158	140	163	143