Alicon Castalloy Limited (ALICON.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

+7.1%

₹922.21

vs ₹861.45 price

Levered DCF

₹3,352.85

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	27.8×	23.33×	22.71×	21.2×	42.15×	-305.22×	14.19×	15.26×
P/B	1.52×	1.83×	2.51×	2.24×	2.27×	1.85×	0.77×	2.62×
P/S	0.54×	0.63×	0.89×	0.78×	0.95×	0.69×	0.26×	0.72×
EV / EBITDA	6.6×	7.27×	8.61×	8.82×	11×	11.24×	5.66×	7.45×
Gross margin	28.6%	47.8%	51.0%	49.2%	11.3%	31.5%	29.3%	29.2%
Operating margin	5.0%	36.0%	37.0%	6.3%	5.4%	36.0%	7.0%	9.8%
Net margin	1.9%	2.7%	3.9%	3.7%	2.2%	-0.2%	1.8%	4.7%
Current ratio	1.11×	1.22×	1.35×	1.35×	1.38×	1.22×	1.14×	1.09×
Debt / equity	0.56×	0.62×	0.6×	0.62×	0.59×	1.12×	1.16×	1.01×
Interest coverage	2.07×	13.92×	14.19×	2.81×	1.95×	8.46×	1.64×	3.19×
Dividend yield	0.9%	1.1%	0.7%	0.3%	0.0%	0.0%	4.3%	1.0%
Payout ratio	26.1%	26.5%	16.4%	7.1%	0.0%	0.0%	60.6%	15.9%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	5.5%	7.8%	11.1%	10.5%	5.4%	-0.6%	5.4%	17.2%
Return on invested capital	6.5%	47.1%	48.3%	8.9%	5.8%	-77.0%	6.1%	11.5%
Return on assets	2.4%	3.6%	5.0%	4.7%	2.4%	-0.2%	1.9%	6.1%
Free cash flow yield	9.3%	3.7%	3.4%	0.5%	0.3%	10.8%	-5.3%	0.4%
Earnings yield	3.6%	4.3%	4.4%	4.7%	2.4%	-0.3%	7.0%	6.6%
Enterprise value	₹12.9B	₹14.4B	₹17.1B	₹13.8B	₹12.7B	₹9.3B	₹6B	₹11.1B
Net debt / EBITDA	1.71×	1.79×	1.61×	1.85×	2.19×	4.11×	3.39×	2.03×
Cash conversion cycle (days)	57	61	72	93	94	120	109	80