Kalind Ltd (ARUNIS.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

+1559.8%

₹62.41

vs ₹3.76 price

Levered DCF

-₹206.73

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

2.23

Grey zone

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	4.5×	-2.43×	0.19×	0.23×	0.28×	0.06×	-0.59×	-0.06×
P/B	0.58×	0.06×	0.01×	0.01×	0.01×	0.01×	0×	0×
P/S	1.53×	3,702.98×	0.04×	0.01×	0.03×	0.04×	0.06×	0.03×
EV / EBITDA	3.15×	-4.08×	0.82×	4.26×	0.8×	-1.57×	0.03×	-0.67×
Gross margin	56.4%	-329100.0%	98.2%	99.7%	90.6%	99.9%	99.8%	96.7%
Operating margin	42.0%	-925800.0%	79.4%	87.8%	82.3%	87.5%	40.4%	49.9%
Net margin	34.1%	-152300.0%	24.3%	4.7%	10.3%	58.6%	-10.6%	-47.4%
Current ratio	9.92×	8.3×	4.62×	1.48×	2.21×	8.23×	71.2×	34.6×
Debt / equity	0.05×	0.13×	0.14×	0.57×	0.29×	0×	0×	0×
Interest coverage	193.58×	-13.61×	3.98×	11.17×	109.82×	12.15×	0×	0×
Dividend yield	1.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	4.7%	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	12.9%	-2.4%	6.1%	2.8%	2.9%	11.5%	-0.6%	-3.4%
Return on invested capital	11.3%	-4.1%	12.3%	14.9%	12.8%	15.6%	-0.8%	3.5%
Return on assets	11.4%	-2.1%	4.9%	1.7%	1.7%	10.8%	-0.5%	-3.3%
Free cash flow yield	-93.1%	-207.5%	6195.8%	2509.3%	-12117.9%	1338.4%	-2072.3%	-3308.6%
Earnings yield	22.2%	-41.1%	541.4%	432.5%	362.8%	1566.9%	-170.8%	-1703.5%
Enterprise value	₹1.3B	₹11.4M	₹9M	₹34.4M	₹8.8M	-₹12.6M	-₹50.6K	-₹526.6K
Net debt / EBITDA	0.22×	-2.75×	0.75×	4.21×	0.76×	-1.62×	0.11×	-0.8×
Cash conversion cycle (days)	294	-42	-1,698	-1,168	-5,877	-43,159	-18,546	-325