AKI India Limited (AKI.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

-804.9%

-₹35.74

vs ₹5.07 price

Levered DCF

-₹83.07

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

1.78

Distress zone

Rating

Overall 3 / 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	20.63×	42.68×	131.88×	95.18×	64.72×	124.46×	147.09×	218.06×
P/B	0.4×	1.13×	3.02×	7.23×	7.7×	8.44×	8.53×	9.07×
P/S	0.38×	0.91×	2.54×	1.54×	1.78×	2.41×	2.64×	2.72×
EV / EBITDA	-13.85×	14.91×	37.18×	24.2×	25.44×	25.47×	31.37×	34.8×
Gross margin	8.1%	17.7%	19.5%	8.8%	15.5%	16.8%	18.3%	15.8%
Operating margin	-5.7%	14.6%	15.2%	2.9%	2.0%	-0.3%	1.9%	0.2%
Net margin	2.2%	2.1%	1.9%	1.6%	2.7%	2.0%	1.8%	1.2%
Current ratio	2.24×	1.77×	1.63×	1.19×	1.18×	1.03×	0.98×	1.1×
Debt / equity	0.21×	0.37×	0.37×	1.72×	2.09×	2.17×	1.7×	1.83×
Interest coverage	-4.01×	6.24×	5.9×	1×	0.89×	-0.09×	0.61×	0.05×
Dividend yield	0.0%	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%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	2.4%	2.6%	2.3%	7.7%	11.7%	7.0%	5.9%	4.2%
Return on invested capital	-3.8%	8.3%	9.6%	3.2%	2.7%	-0.2%	1.6%	0.1%
Return on assets	1.5%	1.5%	1.3%	1.8%	2.7%	1.6%	1.5%	1.1%
Free cash flow yield	-51.9%	-7.0%	-12.5%	1.4%	-0.3%	-6.2%	0.9%	3.0%
Earnings yield	5.9%	2.3%	0.8%	1.1%	1.5%	0.8%	0.7%	0.5%
Enterprise value	₹572.1M	₹949.3M	₹2B	₹1.3B	₹1.4B	₹1.4B	₹1.3B	₹1.3B
Net debt / EBITDA	-4.06×	3.37×	3.72×	4.44×	5.25×	5.04×	4.97×	5.61×
Cash conversion cycle (days)	307	173	145	113	113	140	104	128