Anupam Finserv Ltd (ANUPAM.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

-244.5%

-₹2.34

vs ₹1.62 price

Levered DCF

-₹2.74

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

1.26

Distress zone

Rating

A-

Overall 4 / 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	18.9×	39.75×	25.61×	20.03×	26.4×	6.53×	15.9×	15.38×
P/B	1.21×	0.71×	1.54×	1.06×	2.42×	0.66×	0.9×	0.92×
P/S	7.56×	5.48×	7.73×	6.39×	14.14×	3.71×	8.23×	7.89×
EV / EBITDA	15.66×	9.85×	13.53×	16.11×	28.35×	19.21×	4.79×	4.56×
Gross margin	79.7%	75.0%	72.3%	81.5%	65.3%	58.7%	100.0%	100.0%
Operating margin	51.0%	49.8%	46.2%	52.7%	48.9%	46.6%	85.6%	86.3%
Net margin	40.0%	13.8%	30.2%	31.9%	55.6%	56.5%	51.7%	51.4%
Current ratio	0.41×	163.82×	65.92×	139.46×	28.54×	2.66×	0×	0×
Debt / equity	0.31×	0.11×	0×	0.54×	0.22×	1.03×	0×	0×
Interest coverage	0×	1,145.91×	6,644.13×	769.78×	1,121.82×	116,052.78×	0×	0×
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	6.4%	1.8%	6.0%	5.3%	9.5%	10.1%	5.7%	6.0%
Return on invested capital	3.8%	3.9%	6.0%	2.5%	2.9%	2.1%	5.0%	3.9%
Return on assets	4.9%	1.6%	5.2%	4.1%	7.7%	6.5%	3.5%	3.4%
Free cash flow yield	6.5%	-67.7%	4.5%	-10.8%	5.7%	8.2%	16.0%	-36.5%
Earnings yield	5.3%	2.5%	3.9%	5.0%	3.9%	15.2%	6.3%	6.5%
Enterprise value	₹461.5M	₹229.1M	₹234.9M	₹230M	₹364.3M	₹201.4M	₹101.2M	₹97.9M
Net debt / EBITDA	3.14×	1.18×	-0.29×	5.25×	2.26×	11.28×	-0.01×	-0.01×
Cash conversion cycle (days)	-4	2,789	1,691	2,216	2,099	2,769	0	0