Artemis Electricals and Projec (AEPL.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

-256.1%

-₹22.39

vs ₹14.35 price

Levered DCF

₹5.28

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

Safe zone

Rating

C-

Overall 1 / 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	40.43×	62.97×	231.5×	55.4×	-10.1×	646.15×	25.19×	12.05×
P/B	3.72×	5.56×	11.85×	4.6×	1.76×	1.28×	4.03×	4.49×
P/S	4.37×	6.61×	22.48×	5.97×	3.55×	2.31×	2.94×	1.22×
EV / EBITDA	26.93×	40.84×	120.05×	33.99×	-21.24×	31.44×	16.5×	7.83×
Gross margin	16.1%	36.3%	30.0%	25.9%	-22.6%	7.5%	18.6%	16.9%
Operating margin	14.0%	13.6%	14.7%	15.7%	-26.8%	3.3%	15.3%	14.4%
Net margin	10.8%	10.4%	9.4%	10.8%	-35.0%	0.4%	11.7%	10.0%
Current ratio	1.53×	1.49×	1.95×	0.79×	2.19×	3.44×	2.35×	1.47×
Debt / equity	0.02×	0.03×	0.16×	0.37×	0.44×	0.11×	0.12×	0.35×
Interest coverage	54.41×	35.36×	6.14×	5.37×	-1.56×	1.83×	19.3×	15×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	1.7%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	9.2%	8.8%	5.0%	8.3%	-17.3%	0.2%	16.0%	36.9%
Return on invested capital	8.7%	8.3%	5.0%	7.5%	-7.2%	0.5%	13.8%	28.5%
Return on assets	6.1%	6.2%	3.5%	4.9%	-9.4%	0.1%	9.8%	15.4%
Free cash flow yield	3.9%	2.4%	1.7%	0.8%	-15.1%	-2.6%	-12.0%	3.1%
Earnings yield	2.5%	1.6%	0.4%	1.8%	-9.9%	0.2%	4.0%	8.2%
Enterprise value	₹3.4B	₹4.8B	₹9.4B	₹3.8B	₹1.5B	₹1.1B	₹3.2B	₹1.3B
Net debt / EBITDA	-1.01×	0.1×	1.55×	2.52×	-4.22×	2.39×	0.47×	0.54×
Cash conversion cycle (days)	-27	-94	269	101	448	524	236	114