Ambica Agarbathies Aroma & Industries Limited (AMBICAAGAR.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

+50.2%

₹34.36

vs ₹22.88 price

Levered DCF

-₹57.83

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

C+

Overall 2 / 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	10.22×	96.57×	-12.54×	13.81×	18.89×	7.92×	5.08×	2.11×
P/B	0.31×	0.42×	0.45×	0.33×	0.44×	0.22×	0.22×	0.23×
P/S	0.25×	0.37×	0.47×	0.3×	0.39×	0.15×	0.13×	0.16×
EV / EBITDA	7.02×	8.17×	11.31×	7.19×	6.99×	8.75×	5.84×	7.19×
Gross margin	21.7%	23.9%	26.7%	15.2%	18.0%	13.7%	18.7%	24.4%
Operating margin	5.6%	6.7%	3.4%	5.3%	9.4%	1.8%	6.6%	5.9%
Net margin	2.4%	0.4%	-3.7%	2.2%	2.1%	1.9%	2.5%	7.5%
Current ratio	2.62×	2.69×	3.66×	4.51×	2.08×	2.96×	3.48×	4.03×
Debt / equity	0.85×	0.75×	0.66×	0.6×	0.62×	0.69×	0.68×	0.72×
Interest coverage	0.7×	0.76×	0.3×	0.73×	0.93×	0.35×	1.44×	1.14×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	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	3.1%	0.4%	-3.6%	2.4%	2.3%	2.7%	4.4%	11.0%
Return on invested capital	2.4%	0.7%	1.7%	2.7%	5.8%	-7.4%	5.8%	4.4%
Return on assets	1.4%	0.2%	-1.7%	1.2%	1.1%	1.3%	2.1%	5.3%
Free cash flow yield	-36.2%	-32.1%	3.0%	18.5%	34.8%	18.2%	29.4%	53.7%
Earnings yield	9.8%	1.1%	-8.0%	7.3%	5.3%	12.6%	19.7%	47.3%
Enterprise value	₹1.3B	₹1.3B	₹1.1B	₹965.7M	₹1.1B	₹882.3M	₹841.5M	₹857.3M
Net debt / EBITDA	5.13×	5.19×	6.67×	4.59×	4.03×	6.6×	4.34×	5.37×
Cash conversion cycle (days)	63	49	-4	186	126	112	86	82