Amber Enterprises India Limited (AMBER.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

-518.2%

-₹26,172.94

vs ₹6,258.00 price

Levered DCF

-₹10,716.18

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

—

Rating

D+

Overall 1 / 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	129.73×	95.54×	93.54×	39.1×	108.71×	132.85×	24.43×	28.23×
P/B	5.27×	10.23×	6.03×	3.22×	6.85×	6.76×	3.43×	2.68×
P/S	1.89×	2.34×	1.85×	0.89×	2.82×	3.58×	0.98×	0.96×
EV / EBITDA	27.05×	32.04×	28.13×	16.3×	45.48×	48.51×	12.79×	13.37×
Gross margin	12.0%	17.3%	17.6%	14.8%	15.6%	16.6%	16.3%	15.3%
Operating margin	5.2%	13.4%	13.1%	10.9%	10.8%	11.7%	12.0%	11.4%
Net margin	1.5%	2.4%	2.0%	2.3%	2.6%	2.7%	4.0%	3.4%
Current ratio	1.13×	1.02×	1.02×	1.11×	1.13×	1.31×	1.2×	1.29×
Debt / equity	0.62×	0.9×	0.75×	0.76×	0.62×	0.25×	0.34×	0.25×
Interest coverage	2.21×	6.6×	5.79×	7.32×	9.48×	8.45×	11.11×	12.58×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.3%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	7.7%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	4.1%	10.7%	6.4%	8.2%	6.3%	5.1%	14.0%	9.5%
Return on invested capital	4.4%	18.5%	15.8%	15.7%	10.9%	11.5%	24.2%	16.4%
Return on assets	1.3%	2.9%	2.0%	2.5%	2.2%	2.3%	5.5%	3.9%
Free cash flow yield	-5.4%	0.6%	4.4%	-5.6%	-1.4%	0.3%	3.7%	-6.9%
Earnings yield	0.8%	1.0%	1.1%	2.6%	0.9%	0.8%	4.1%	3.5%
Enterprise value	₹255.2B	₹247.1B	₹138.5B	₹72.8B	₹126.4B	₹110.6B	₹41.8B	₹28.6B
Net debt / EBITDA	2.62×	1.73×	2.86×	2.53×	2.77×	0.95×	0.96×	0.99×
Cash conversion cycle (days)	54	-1	-1	19	27	43	35	53