Ahasolar Technologies Ltd. (AHASOLAR.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

-2890.7%

-₹1,534.86

vs ₹55.00 price

Levered DCF

-₹1,681.76

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

9.55

Safe zone

Rating

B+

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
P/E	95.52×	-27.66×	3,236.43×	41.55×	83.75×	827.88×	3,203.13×
P/B	1.31×	1.79×	8.88×	16.63×	74.42×	658.2×	3,071.59×
P/S	0.21×	0.46×	3.32×	3.18×	3.83×	35.36×	51.56×
EV / EBITDA	22.58×	-39.45×	381.69×	36.83×	59.68×	601.57×	2,750.9×
Gross margin	3.7%	4.8%	5.6%	14.2%	11.7%	26.1%	20.1%
Operating margin	0.2%	-2.4%	-1.0%	7.5%	6.3%	5.7%	1.8%
Net margin	0.2%	-1.7%	0.1%	7.7%	4.6%	4.2%	1.6%
Current ratio	2.01×	3.7×	7.45×	3.67×	2.03×	1.43×	0.55×
Debt / equity	0.06×	0.05×	0×	0×	0.65×	2.4×	10.67×
Interest coverage	1.33×	-16.9×	-65.5×	926.29×	3,607.67×	1,064×	114.5×
Dividend yield	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%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	1.4%	-6.5%	0.3%	40.0%	88.9%	78.5%	95.8%
Return on invested capital	0.6%	-8.5%	-1.9%	37.9%	48.4%	21.3%	8.3%
Return on assets	1.0%	-4.9%	0.2%	30.5%	32.7%	9.2%	1.5%
Free cash flow yield	-24.1%	-12.9%	-1.9%	-1.1%	-0.5%	0.1%	-0.3%
Earnings yield	1.0%	-3.6%	0.0%	2.4%	1.2%	0.1%	0.0%
Enterprise value	₹180.4M	₹200.3M	₹1.4B	₹659.1M	₹667M	₹664.7M	₹665.7M
Net debt / EBITDA	-1.98×	12.59×	-8.2×	-0.25×	0.31×	1.15×	9.32×
Cash conversion cycle (days)	12	35	37	47	24	-20	-206