Amrutanjan Health Care Limited (AMRUTANJAN.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

+18.1%

₹591.92

vs ₹501.00 price

Levered DCF

₹291.28

After debt service

Piotroski score

4 / 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	24.65×	36.61×	40.16×	42.2×	34.55×	27.11×	38.46×	38.5×
P/B	3.86×	5.7×	6.26×	5.78×	8.75×	7.7×	6.05×	6.48×
P/S	2.84×	4.13×	4.29×	4.43×	5.72×	5×	3.7×	3.75×
EV / EBITDA	18.44×	23.46×	26.15×	28.38×	23.64×	17.75×	23.98×	22.55×
Gross margin	37.4%	54.7%	34.6%	52.1%	55.5%	57.7%	55.1%	52.8%
Operating margin	13.8%	12.1%	11.6%	11.0%	19.7%	21.7%	10.3%	11.6%
Net margin	11.5%	11.3%	10.7%	10.5%	16.6%	18.5%	9.6%	9.7%
Current ratio	2.31×	3.44×	4.23×	4.12×	3.55×	4.28×	3.22×	3.87×
Debt / equity	0×	0.01×	0.01×	0×	0×	0.01×	0.01×	0×
Interest coverage	355.72×	249.04×	194.16×	188.03×	244.16×	121.27×	78.94×	144.95×
Dividend yield	0.9%	0.7%	0.7%	0.9%	0.5%	0.3%	1.2%	0.6%
Payout ratio	22.8%	26.1%	29.8%	36.2%	18.6%	7.6%	44.3%	23.3%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	15.6%	15.6%	15.6%	13.7%	25.3%	28.4%	15.7%	16.8%
Return on invested capital	13.5%	11.9%	11.9%	10.4%	21.7%	24.1%	11.7%	13.8%
Return on assets	11.4%	12.1%	12.3%	11.0%	19.2%	22.3%	12.2%	13.1%
Free cash flow yield	-0.2%	0.8%	1.2%	0.6%	1.2%	5.3%	1.6%	2.0%
Earnings yield	4.1%	2.7%	2.5%	2.4%	2.9%	3.7%	2.6%	2.6%
Enterprise value	₹14B	₹17.8B	₹17.8B	₹16.8B	₹22.4B	₹15.3B	₹9.4B	₹8.7B
Net debt / EBITDA	-0.42×	-1.07×	-0.35×	-0.07×	-0.87×	-1.5×	-0.65×	-1.9×
Cash conversion cycle (days)	5	-23	6	-6	-35	-41	18	1