Arvind Limited (ARVIND.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

+15.7%

₹580.56

vs ₹501.80 price

Levered DCF

₹457.08

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

2.42

Grey zone

Rating

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	22.19×	23.54×	21.33×	5.48×	12.59×	-102.89×	5.31×	10.5×
P/B	2.27×	2.2×	2.03×	0.66×	1.02×	0.63×	0.19×	0.86×
P/S	0.99×	1.03×	0.95×	0.27×	0.39×	0.34×	0.07×	0.34×
EV / EBITDA	10.17×	10.24×	9.3×	3.98×	5.71×	9.89×	5.91×	7.78×
Gross margin	51.7%	13.6%	12.6%	11.2%	9.1%	8.8%	9.6%	13.0%
Operating margin	7.7%	5.4%	6.0%	4.7%	3.5%	2.0%	3.3%	5.8%
Net margin	4.4%	4.4%	4.4%	4.9%	3.1%	-0.3%	1.3%	3.2%
Current ratio	1.14×	1.08×	1.12×	1.1×	1.11×	1.12×	0.99×	1.02×
Debt / equity	0.41×	0.41×	0.41×	0.45×	0.63×	0.78×	0.97×	0.98×
Interest coverage	4.33×	2.11×	2.34×	2.11×	1.62×	0.42×	0.92×	1.73×
Dividend yield	1.1%	1.6%	2.1%	0.2%	0.1%	0.0%	12.3%	2.7%
Payout ratio	25.1%	36.8%	45.8%	1.0%	0.8%	0.0%	65.1%	28.3%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	10.2%	9.3%	9.5%	12.1%	8.1%	-0.6%	3.5%	8.2%
Return on invested capital	8.3%	5.7%	6.5%	6.4%	3.4%	1.7%	2.3%	5.7%
Return on assets	4.7%	4.4%	4.6%	5.9%	3.1%	-0.2%	1.3%	3.1%
Free cash flow yield	3.7%	2.7%	5.8%	20.8%	13.6%	38.7%	87.7%	71.9%
Earnings yield	4.5%	4.2%	4.7%	18.2%	7.9%	-1.0%	18.8%	9.5%
Enterprise value	₹106.8B	₹98.3B	₹85.7B	₹36.8B	₹48B	₹38B	₹31B	₹50B
Net debt / EBITDA	1.42×	1.57×	1.51×	1.58×	2.15×	5.45×	4.94×	4.09×
Cash conversion cycle (days)	73	78	87	67	114	72	65	77