Amforge Industries Limited (AMFORG.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

-119.3%

-₹1.06

vs ₹5.49 price

Levered DCF

-₹0.95

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

—

Rating

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	-24.68×	25×	-54.16×	43.08×	6.14×	8×	32.4×	-6.48×
P/B	0.76×	0.9×	1.16×	0.65×	0.81×	0.24×	0.08×	0.19×
P/S	0×	4.33×	5.63×	0×	0×	0×	0×	0×
EV / EBITDA	94.64×	8.98×	23.64×	-4.09×	-8.11×	3.07×	5.64×	11.44×
Gross margin	0.0%	88.1%	-9.8%	0.0%	0.0%	0.0%	0.0%	0.0%
Operating margin	0.0%	-65.4%	-79.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Net margin	0.0%	17.3%	-10.2%	0.0%	0.0%	0.0%	0.0%	0.0%
Current ratio	4.77×	5.11×	9.03×	8.03×	8.54×	0.76×	0.3×	0.27×
Debt / equity	0.13×	0.05×	0.06×	0.15×	0.17×	0.25×	0.46×	0.37×
Interest coverage	-14.12×	-7.42×	-9.6×	-9.36×	-6.62×	-3.65×	-4.67×	-5.94×
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%	3.6%	-2.1%	1.5%	13.2%	3.0%	0.2%	-2.9%
Return on invested capital	-15.9%	-8.5%	36.3%	-12.7%	-10.6%	-10.7%	51.2%	-9.6%
Return on assets	-2.2%	2.8%	-1.6%	1.1%	8.7%	1.8%	0.1%	-1.6%
Free cash flow yield	-24.2%	-9.7%	-9.3%	-37.1%	-9.3%	-42.6%	-306.8%	-203.1%
Earnings yield	-4.1%	4.0%	-1.8%	2.3%	16.2%	12.7%	3.1%	-15.1%
Enterprise value	₹113.1M	₹119.3M	₹150.2M	₹77.3M	₹113M	₹40.3M	₹51.9M	₹54.1M
Net debt / EBITDA	11.4×	0.08×	0.33×	0.17×	-0.95×	1.14×	4.74×	7.31×
Cash conversion cycle (days)	-220	345	-113	-156	-89	-117	-103	-110