AksharChem (India) Limited (AKSHARCHEM.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

-261.2%

-₹596.34

vs ₹370.00 price

Levered DCF

-₹776.67

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

2.13

Grey zone

Rating

B+

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	-263.98×	35.93×	-11.23×	-175.26×	17.89×	15.28×	7.91×	12.39×
P/B	0.44×	0.65×	0.81×	0.59×	1.02×	0.69×	0.47×	1.09×
P/S	0.31×	0.49×	0.69×	0.49×	0.77×	0.77×	0.49×	0.88×
EV / EBITDA	11.77×	9.58×	134.15×	12.16×	10.53×	8.16×	5.17×	7.42×
Gross margin	17.9%	27.6%	39.1%	6.5%	11.8%	8.4%	39.5%	34.2%
Operating margin	0.1%	23.8%	-6.0%	-2.1%	2.1%	3.6%	7.7%	9.1%
Net margin	-0.1%	1.4%	-6.2%	-0.3%	4.3%	5.1%	6.1%	7.1%
Current ratio	0.99×	1.16×	1.59×	2.25×	1.78×	1.9×	2.73×	2.77×
Debt / equity	0.41×	0.25×	0.2×	0.09×	0.18×	0.05×	0.05×	0.04×
Interest coverage	0.07×	15.65×	-4.84×	-2.21×	3.56×	12.8×	17.68×	31.63×
Dividend yield	0.6%	0.2%	0.2%	0.3%	1.0%	0.0%	5.4%	1.2%
Payout ratio	-160.3%	8.3%	-2.1%	-53.6%	18.6%	0.0%	43.0%	15.3%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-0.2%	1.8%	-7.2%	-0.3%	5.7%	4.5%	5.9%	8.8%
Return on invested capital	0.0%	19.1%	-5.4%	-2.2%	2.0%	2.0%	5.5%	6.9%
Return on assets	-0.1%	1.1%	-4.9%	-0.3%	3.9%	3.5%	4.9%	7.1%
Free cash flow yield	-35.4%	-5.5%	-11.2%	17.6%	-7.2%	-1.2%	-11.1%	-21.3%
Earnings yield	-0.4%	2.8%	-8.9%	-0.6%	5.6%	6.5%	12.6%	8.1%
Enterprise value	₹2.2B	₹2.4B	₹2.6B	₹1.9B	₹3.3B	₹2B	₹1.4B	₹2.9B
Net debt / EBITDA	5.65×	2.68×	26.52×	1.57×	1.58×	0.53×	0.47×	0.29×
Cash conversion cycle (days)	86	62	101	76	80	80	88	60