Asahi Songwon Colors Limited (ASAHISONG.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

-139.2%

-₹150.95

vs ₹385.00 price

Levered DCF

-₹309.20

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

—

Rating

B-

Overall 2 / 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	11.71×	19.76×	18.99×	-18.7×	17.72×	11.84×	3.95×	10.7×
P/B	0.81×	1.53×	1.62×	1×	1.42×	1.68×	0.45×	1.01×
P/S	0.41×	0.69×	0.9×	0.43×	0.84×	1.36×	0.33×	0.69×
EV / EBITDA	6.34×	9.82×	12.32×	35.62×	13.01×	8×	3.46×	7.65×
Gross margin	17.4%	26.0%	23.9%	23.6%	32.3%	39.6%	31.7%	34.6%
Operating margin	5.8%	21.6%	0.6%	-1.8%	5.2%	14.8%	8.5%	8.9%
Net margin	3.5%	3.5%	4.7%	-2.3%	4.7%	11.5%	8.3%	6.4%
Current ratio	1.25×	1.21×	1.15×	1.12×	1.62×	1.79×	3.21×	1.84×
Debt / equity	0.53×	0.66×	0.84×	0.82×	0.36×	0.22×	0.11×	0.32×
Interest coverage	2.54×	7.36×	0.19×	-0.66×	4.47×	21.35×	6.47×	4.92×
Dividend yield	0.8%	0.2%	0.2%	0.3%	1.2%	0.0%	9.8%	2.3%
Payout ratio	9.4%	3.0%	3.0%	-5.1%	21.7%	0.0%	38.9%	24.3%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	6.9%	7.7%	8.5%	-5.3%	8.0%	14.2%	11.3%	9.5%
Return on invested capital	4.7%	17.4%	0.4%	-2.0%	3.8%	8.9%	9.1%	6.4%
Return on assets	3.1%	3.3%	3.5%	-2.1%	4.1%	8.3%	8.2%	5.9%
Free cash flow yield	11.6%	13.3%	-11.7%	-0.7%	-8.2%	-23.1%	50.4%	11.4%
Earnings yield	8.5%	5.1%	5.3%	-5.3%	5.6%	8.4%	25.3%	9.3%
Enterprise value	₹3.6B	₹5.5B	₹5.8B	₹4B	₹4.3B	₹4.3B	₹1.1B	₹2.6B
Net debt / EBITDA	2.45×	2.87×	4.17×	16.06×	2.63×	0.92×	0.6×	1.83×
Cash conversion cycle (days)	87	75	111	84	113	118	84	131