Aries Agro Limited (ARIES.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

-26.2%

₹333.10

vs ₹451.60 price

Levered DCF

₹989.89

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

B+

Overall 3 / 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	9.85×	9.82×	17.48×	11.27×	13.35×	5.56×	5.34×	11.49×
P/B	1.26×	1.15×	1.3×	0.79×	0.79×	0.47×	0.27×	0.6×
P/S	0.56×	0.54×	0.66×	0.41×	0.41×	0.26×	0.18×	0.43×
EV / EBITDA	5.04×	4.84×	7.03×	5.2×	5.79×	4.38×	4.6×	6.28×
Gross margin	29.4%	41.7%	43.0%	41.0%	29.6%	45.3%	51.2%	38.8%
Operating margin	10.4%	10.1%	9.2%	8.6%	9.6%	13.7%	12.5%	15.6%
Net margin	5.7%	5.5%	3.8%	3.6%	3.1%	4.7%	3.3%	3.7%
Current ratio	1.69×	1.69×	1.68×	1.61×	1.53×	1.45×	1.42×	1.47×
Debt / equity	0.17×	0.17×	0.28×	0.41×	0.5×	0.68×	0.81×	0.91×
Interest coverage	4.4×	3.39×	2.14×	1.73×	1.74×	2.07×	1.45×	1.43×
Dividend yield	0.4%	0.4%	0.4%	0.5%	0.6%	0.0%	6.9%	2.6%
Payout ratio	3.6%	3.8%	6.7%	6.1%	7.8%	0.0%	37.0%	30.3%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	12.8%	11.7%	7.5%	7.1%	5.9%	8.5%	5.0%	5.2%
Return on invested capital	13.2%	13.2%	8.8%	7.1%	7.3%	9.8%	5.4%	5.2%
Return on assets	6.7%	5.9%	3.8%	3.3%	2.6%	3.6%	2.0%	2.0%
Free cash flow yield	4.8%	21.8%	13.6%	20.2%	35.1%	42.0%	87.1%	31.8%
Earnings yield	10.2%	10.2%	5.7%	8.9%	7.5%	18.0%	18.7%	8.7%
Enterprise value	₹4.5B	₹3.5B	₹4.1B	₹2.9B	₹2.9B	₹2.4B	₹2.1B	₹2.8B
Net debt / EBITDA	0.29×	0.22×	1.22×	1.75×	2.23×	2.57×	3.46×	3.74×
Cash conversion cycle (days)	96	149	179	199	194	273	345	421