Advait Energy Transitions Limited (ADVAIT.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

-263.2%

-₹2,857.04

vs ₹1,751.15 price

Levered DCF

-₹7,203.91

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

3.45

Safe zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	35.55×	40.54×	59.52×	21.73×	11.8×	4.82×	48.58×	10.55×
P/B	6.61×	6.29×	17.73×	6.36×	1.78×	0.71×	1.36×	1.39×
P/S	2.57×	3.19×	6.24×	2.8×	0.8×	0.35×	0.59×	0.94×
EV / EBITDA	21.7×	22.84×	35.99×	16.38×	5.16×	2.3×	5.64×	5.89×
Gross margin	16.4%	22.3%	29.8%	20.3%	22.9%	16.4%	18.2%	25.0%
Operating margin	11.2%	11.8%	16.3%	13.3%	11.6%	4.5%	6.3%	14.2%
Net margin	7.2%	7.8%	10.5%	8.1%	6.8%	7.3%	1.2%	7.5%
Current ratio	1.32×	1.72×	1.29×	1.15×	1.41×	1.71×	1.35×	1.61×
Debt / equity	0.34×	0.26×	0.81×	0.33×	0.24×	0.23×	0.51×	0.32×
Interest coverage	5.32×	4.82×	4.92×	5.17×	7.74×	2.11×	2.15×	135.21×
Dividend yield	0.1%	0.1%	0.0%	0.2%	0.8%	2.4%	0.0%	0.0%
Payout ratio	3.7%	4.7%	0.0%	6.0%	9.6%	11.8%	0.0%	0.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	18.6%	15.3%	29.8%	18.4%	15.1%	14.8%	2.8%	11.2%
Return on invested capital	14.8%	12.4%	17.6%	14.2%	12.0%	7.3%	2.0%	8.1%
Return on assets	7.8%	6.3%	11.0%	7.3%	6.6%	7.3%	1.0%	4.7%
Free cash flow yield	-7.1%	2.5%	-1.5%	1.3%	-5.1%	-6.0%	-2.3%	-34.7%
Earnings yield	2.8%	2.4%	1.7%	2.9%	8.5%	20.7%	2.1%	8.0%
Enterprise value	₹18.2B	₹13.2B	₹13.5B	₹3B	₹607.5M	₹163.7M	₹276.4M	₹256.5M
Net debt / EBITDA	-0.25×	0.87×	1.38×	0.46×	-0.17×	-0.93×	0.28×	-0.14×
Cash conversion cycle (days)	-16	-7	25	-43	29	-5	-45	-58