Anupam Rasayan India Limited (ANURAS.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

-923.8%

-₹9,375.24

vs ₹1,138.00 price

Levered DCF

-₹8,483.78

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

C-

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	81.57×	88.61×	74.14×	49.62×	54.17×	57.14×	49.51×	79.82×
P/B	4.16×	2.9×	3.45×	3.79×	4.79×	2.55×	6.77×	7.75×
P/S	5.87×	5.74×	6.44×	5.61×	7.7×	4.93×	7.5×	7.67×
EV / EBITDA	28.27×	23.4×	26.77×	22.31×	29.71×	20.6×	33.27×	44.07×
Gross margin	34.5%	57.0%	57.5%	55.3%	65.3%	58.2%	60.4%	49.7%
Operating margin	16.3%	51.7%	52.2%	50.7%	60.5%	54.0%	56.0%	46.0%
Net margin	7.2%	6.5%	8.7%	11.3%	14.2%	8.6%	9.9%	9.6%
Current ratio	1.43×	1.42×	1.69×	2.6×	2.43×	2.59×	1.12×	1.25×
Debt / equity	0.56×	0.48×	0.39×	0.35×	0.48×	0.27×	1.44×	1.32×
Interest coverage	2.59×	6.8×	9.73×	15.04×	22.25×	6.78×	7.51×	13.74×
Dividend yield	0.1%	0.2%	0.3%	0.3%	0.1%	0.0%	0.0%	0.0%
Payout ratio	8.9%	14.4%	20.5%	13.6%	6.6%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	5.1%	3.3%	4.7%	7.6%	8.8%	4.5%	9.0%	9.7%
Return on invested capital	5.0%	13.1%	13.0%	16.8%	17.0%	15.5%	15.2%	15.1%
Return on assets	2.1%	1.8%	2.8%	4.8%	5.3%	3.1%	3.2%	3.7%
Free cash flow yield	-2.6%	-5.3%	-6.9%	0.8%	-3.8%	-3.6%	-2.1%	-5.3%
Earnings yield	1.2%	1.1%	1.3%	2.0%	1.8%	1.7%	1.3%	1.3%
Enterprise value	₹153.5B	₹95.2B	₹103.5B	₹96.3B	₹90.6B	₹42B	₹48.6B	₹46B
Net debt / EBITDA	2.71×	3.06×	2.12×	1.47×	2.6×	0.89×	5.72×	6.4×
Cash conversion cycle (days)	344	701	514	491	762	405	539	276