Ahlada Engineers Limited (AHLADA.NS) 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

+337.9%

₹157.37

vs ₹35.94 price

Levered DCF

₹73.99

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

B-

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	229×	20.42×	10.98×	21.55×	25.09×	11.6×	7.65×	10×
P/B	0.3×	0.54×	1.09×	0.87×	1.06×	0.99×	0.52×	0.9×
P/S	0.4×	0.57×	0.58×	0.69×	0.85×	0.74×	0.54×	0.48×
EV / EBITDA	5.42×	5.13×	5.17×	5.57×	6.01×	5.99×	3.76×	4.49×
Gross margin	21.5%	37.0%	14.0%	40.2%	45.6%	17.5%	38.8%	27.8%
Operating margin	4.4%	7.9%	9.5%	8.0%	8.0%	11.9%	14.0%	13.0%
Net margin	0.2%	2.8%	5.3%	3.2%	3.4%	6.4%	7.0%	5.5%
Current ratio	1.94×	2.14×	1.75×	1.72×	1.74×	1.27×	1.44×	1.6×
Debt / equity	0.28×	0.26×	0.31×	0.26×	0.25×	0.5×	0.31×	0.49×
Interest coverage	1.02×	2.11×	5.21×	3.39×	2.69×	4.85×	2.96×	3.07×
Dividend yield	5.1%	2.7%	1.2%	1.6%	1.4%	1.3%	2.7%	0.0%
Payout ratio	1159.5%	55.8%	13.3%	35.5%	34.9%	15.2%	20.3%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	0.1%	2.7%	9.9%	4.1%	4.2%	8.6%	6.8%	10.4%
Return on invested capital	1.2%	3.7%	8.9%	4.5%	5.1%	7.2%	7.5%	10.1%
Return on assets	0.1%	1.8%	6.0%	2.6%	2.8%	4.4%	4.4%	5.5%
Free cash flow yield	0.5%	17.9%	-2.6%	3.6%	26.9%	-12.2%	35.7%	-47.0%
Earnings yield	0.4%	4.9%	9.1%	4.6%	4.0%	8.6%	13.1%	11.6%
Enterprise value	₹780.8M	₹1.1B	₹1.9B	₹1.4B	₹1.6B	₹1.8B	₹938.3M	₹1.5B
Net debt / EBITDA	2.59×	1.57×	1.1×	1.27×	1.16×	2.01×	1.39×	1.57×
Cash conversion cycle (days)	261	243	157	199	167	99	147	164