Ashiana Housing Limited (ASHIANA.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

-6459.5%

-₹22,887.83

vs ₹359.90 price

Levered DCF

₹4,806.01

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

1.15

Distress zone

Rating

A-

Overall 4 / 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	23.33×	164.17×	34.59×	62.17×	-198.04×	774.12×	-16.88×	88.19×
P/B	3.2×	3.81×	3.74×	2.28×	1.9×	1.79×	0.68×	1.56×
P/S	2.41×	5.51×	3.09×	4.31×	6.86×	5.79×	1.71×	3.69×
EV / EBITDA	18.36×	71.4×	24.84×	47.19×	-526.09×	141.43×	-33.15×	28.15×
Gross margin	19.1%	30.4%	17.1%	29.7%	28.0%	27.0%	23.5%	34.1%
Operating margin	10.2%	0.9%	8.9%	3.6%	-16.6%	-6.8%	-8.4%	5.9%
Net margin	10.3%	3.4%	8.9%	6.9%	-3.5%	0.7%	-10.1%	4.2%
Current ratio	1.33×	1.37×	1.57×	1.7×	1.86×	2.46×	3.66×	4.38×
Debt / equity	0.38×	0.36×	0.19×	0.24×	0.24×	0.09×	0.18×	0.21×
Interest coverage	69.74×	2.06×	44.06×	4.73×	-6.93×	-1.76×	-1.85×	1.29×
Dividend yield	0.9%	0.5%	0.2%	0.3%	0.6%	0.2%	0.6%	0.3%
Payout ratio	21.3%	82.7%	6.0%	18.4%	-116.3%	178.5%	-10.2%	22.4%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	13.7%	2.4%	10.8%	3.7%	-1.0%	0.2%	-4.0%	1.8%
Return on invested capital	7.0%	0.3%	6.5%	1.2%	-1.7%	-1.8%	-2.1%	1.4%
Return on assets	2.8%	0.5%	3.5%	1.3%	-0.4%	0.1%	-2.6%	1.2%
Free cash flow yield	9.4%	6.7%	6.2%	-0.6%	-6.2%	8.3%	4.4%	-1.6%
Earnings yield	4.3%	0.6%	2.9%	1.6%	-0.5%	0.1%	-5.9%	1.1%
Enterprise value	₹24.5B	₹30.2B	₹28.2B	₹17.9B	₹14.5B	₹12.7B	₹5.5B	₹13.2B
Net debt / EBITDA	-2.27×	2.49×	-0.52×	1.67×	-17.44×	-9.07×	-2.68×	2.15×
Cash conversion cycle (days)	1,049	2,231	792	2,023	3,034	1,545	1,056	1,107