Amba Enterprises Limited (AEL.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

+61.5%

₹179.62

vs ₹111.25 price

Levered DCF

-₹54.40

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

C+

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	14.98×	32.42×	26.57×	12.31×	11.06×	7.13×	11.11×	13.07×
P/B	2.46×	5.66×	4.59×	1.94×	2.77×	0.81×	0.89×	0.9×
P/S	0.31×	0.71×	0.58×	0.27×	0.32×	0.14×	0.15×	0.16×
EV / EBITDA	9.89×	22.36×	18.46×	8.58×	7.76×	4.43×	6.76×	7.12×
Gross margin	3.3%	4.2%	4.4%	4.5%	6.4%	6.4%	4.8%	4.5%
Operating margin	2.8%	2.9%	2.9%	2.9%	4.0%	2.8%	2.1%	2.0%
Net margin	2.1%	2.2%	2.2%	2.2%	2.9%	2.0%	1.4%	1.3%
Current ratio	1.61×	1.51×	2.2×	2.47×	3.22×	4.95×	4.34×	1.72×
Debt / equity	0.06×	0.25×	0.33×	0.13×	0.19×	0.12×	0.13×	0.09×
Interest coverage	20.86×	24.43×	35.57×	29.06×	16.69×	5.98×	6.92×	3.8×
Dividend yield	0.8%	0.3%	0.2%	0.7%	0.0%	0.0%	1.5%	1.6%
Payout ratio	11.6%	8.5%	6.2%	8.0%	0.0%	0.0%	16.8%	20.5%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	16.4%	17.4%	17.3%	15.8%	25.0%	11.3%	7.9%	6.9%
Return on invested capital	15.3%	13.7%	12.3%	14.3%	20.0%	10.2%	7.6%	7.1%
Return on assets	6.6%	7.0%	9.9%	10.9%	17.6%	9.2%	6.4%	3.4%
Free cash flow yield	5.9%	2.1%	-3.9%	0.9%	-10.3%	22.5%	-25.7%	55.8%
Earnings yield	6.7%	3.1%	3.8%	8.1%	9.0%	14.0%	9.0%	7.7%
Enterprise value	₹1.2B	₹2.5B	₹1.7B	₹617.9M	₹745.2M	₹172.3M	₹173M	₹158.9M
Net debt / EBITDA	-0.55×	0.59×	1.07×	0.5×	0.39×	0.46×	0.82×	0.6×
Cash conversion cycle (days)	30	31	45	39	30	3	44	30