Amal Ltd (AMAL.BO) 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

-1353.2%

-₹7,142.12

vs ₹569.90 price

Levered DCF

-₹7,211.29

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

10.62

Safe 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	24.44×	27.68×	302.52×	-10.75×	344.83×	40.97×	9.85×	12.65×
P/B	4.54×	8.18×	6.58×	2.66×	10.84×	10.52×	3.55×	6×
P/S	2.28×	5.99×	5.34×	2.98×	8.85×	11.88×	2.79×	3×
EV / EBITDA	14.37×	18.64×	31.08×	-40.07×	101.69×	28.67×	6.04×	8.51×
Gross margin	24.2%	42.7%	14.3%	-14.1%	37.7%	67.3%	69.4%	62.4%
Operating margin	11.0%	38.2%	7.4%	-19.8%	5.8%	34.8%	40.4%	36.7%
Net margin	9.3%	21.6%	2.0%	-26.4%	2.6%	29.0%	28.3%	23.7%
Current ratio	2.48×	1.89×	0.99×	0.84×	0.73×	3.11×	5.67×	2.26×
Debt / equity	0×	0×	0.34×	0.51×	1.44×	0.17×	0.18×	0.72×
Interest coverage	40.33×	25.47×	1.7×	-2.86×	2.65×	14.5×	6.24×	5.02×
Dividend yield	0.2%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	5.5%	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	18.6%	29.5%	2.4%	-23.6%	3.1%	25.7%	36.0%	47.4%
Return on invested capital	16.9%	46.1%	4.1%	-11.6%	2.0%	20.9%	30.2%	31.1%
Return on assets	14.5%	24.1%	1.6%	-13.6%	1.1%	18.2%	26.7%	23.8%
Free cash flow yield	2.7%	5.7%	2.7%	-14.5%	-16.8%	0.9%	14.8%	5.8%
Earnings yield	4.1%	3.6%	0.4%	-8.8%	0.3%	2.4%	10.2%	7.9%
Enterprise value	₹5.4B	₹8.1B	₹4.8B	₹2.1B	₹4.3B	₹3.7B	₹945M	₹1.1B
Net debt / EBITDA	-0.06×	-0.08×	1.47×	-5.98×	11.93×	0.4×	0.25×	0.91×
Cash conversion cycle (days)	18	-2	45	22	4	-7	29	123