Ad-Manum Finance Limited (ADMANUM.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

+1554.8%

₹842.13

vs ₹50.89 price

Levered DCF

₹67.49

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

2.05

Grey zone

Rating

A+

Overall 5 / 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	3.55×	5.16×	5.62×	7.27×	15.02×	13.37×	19.86×	-72.63×
P/B	0.41×	0.57×	0.61×	0.59×	0.64×	0.67×	0.74×	0.77×
P/S	2.26×	3.45×	3.92×	3.99×	4.32×	3.93×	3.71×	3.68×
EV / EBITDA	4.17×	4.94×	5.37×	8.34×	7.61×	6.25×	13.78×	-577.39×
Gross margin	93.8%	86.6%	82.3%	82.3%	83.4%	83.4%	74.6%	67.8%
Operating margin	84.3%	80.4%	84.3%	64.9%	63.6%	66.3%	60.2%	38.9%
Net margin	63.6%	66.9%	69.8%	54.8%	28.8%	29.4%	18.7%	-5.0%
Current ratio	24.82×	2,588.64×	161.32×	205.67×	199.91×	76.62×	173.3×	157.57×
Debt / equity	0.26×	0.1×	0.11×	0.23×	0.15×	0.21×	0.97×	0.51×
Interest coverage	0×	0×	0×	0×	0×	0×	6,212.79×	19,858.15×
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	11.7%	11.1%	10.9%	8.1%	4.3%	5.0%	3.7%	-1.0%
Return on invested capital	9.2%	9.4%	9.0%	5.8%	8.2%	7.1%	5.2%	5.3%
Return on assets	9.2%	10.1%	9.7%	7.2%	3.7%	4.1%	1.9%	-0.7%
Free cash flow yield	27.2%	1.0%	17.3%	-5.0%	-6.6%	125.7%	-67.1%	-2.9%
Earnings yield	28.2%	19.4%	17.8%	13.8%	6.7%	7.5%	5.0%	-1.4%
Enterprise value	₹590.1M	₹530.2M	₹502.1M	₹506.4M	₹421.6M	₹396.1M	₹843.5M	₹599.1M
Net debt / EBITDA	1.49×	0.66×	0.74×	2.33×	1.02×	0.49×	7.82×	-225.68×
Cash conversion cycle (days)	24	42	66	2,501	2,337	1,922	3,356	2,251