Alembic Limited (ALEMBICLTD.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

-3.8%

₹86.33

vs ₹89.72 price

Levered DCF

-₹12.13

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

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	5.74×	8.25×	8.55×	7.96×	8.38×	7.71×	2.76×	4.37×
P/B	0.74×	1.1×	1.05×	0.73×	0.75×	1.15×	0.64×	0.77×
P/S	7.59×	11.55×	14.58×	12.81×	26.07×	38.97×	13.5×	7.96×
EV / EBITDA	20.21×	15.27×	20.63×	16.12×	18.03×	123.6×	8.81×	19.63×
Gross margin	47.4%	68.8%	55.4%	59.3%	56.7%	57.9%	44.0%	36.6%
Operating margin	32.5%	56.5%	31.1%	28.4%	13.0%	10.9%	0.3%	13.2%
Net margin	132.2%	140.0%	170.6%	161.1%	311.1%	505.4%	489.4%	182.3%
Current ratio	1.95×	1.85×	1.52×	2.05×	2.12×	1.72×	3.56×	2.02×
Debt / equity	0×	0.01×	0×	0×	0×	0×	0×	0×
Interest coverage	34.24×	50.78×	44.22×	72.23×	23.81×	20.34×	0.66×	71.42×
Dividend yield	3.4%	2.4%	2.4%	3.0%	0.3%	0.6%	0.7%	0.7%
Payout ratio	19.3%	19.7%	20.9%	24.1%	2.3%	4.5%	1.9%	3.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	13.0%	13.3%	12.3%	9.2%	8.9%	14.9%	23.2%	17.6%
Return on invested capital	2.9%	5.1%	2.1%	1.5%	0.3%	0.3%	0.0%	1.2%
Return on assets	12.3%	12.4%	11.5%	8.6%	8.4%	14.2%	22.4%	16.8%
Free cash flow yield	5.8%	1.4%	-1.5%	0.9%	-2.9%	-1.9%	-1.7%	-0.2%
Earnings yield	17.4%	12.1%	11.7%	12.6%	11.9%	13.0%	36.3%	22.9%
Enterprise value	₹18.3B	₹25.7B	₹23B	₹15.2B	₹18.6B	₹26.4B	₹8.5B	₹9.3B
Net debt / EBITDA	0.08×	0.07×	0.07×	-0.01×	-0.01×	-0.26×	-0.6×	-0.03×
Cash conversion cycle (days)	131	425	321	639	831	499	271	99