Ashish Polyplast Limited (ASHISHPO.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

-57.7%

₹10.11

vs ₹23.89 price

Levered DCF

₹9.71

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

3.36

Safe 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	75.66×	53.67×	10.89×	23.8×	56.37×	10.21×	7.78×	25.94×
P/B	1.44×	1.98×	1.42×	0.8×	3.33×	0.65×	0.25×	0.62×
P/S	0.66×	0.83×	0.57×	0.28×	1.12×	0.26×	0.09×	0.21×
EV / EBITDA	20.8×	17.49×	6.4×	8.88×	23.25×	5.45×	4.17×	6.45×
Gross margin	9.0%	14.4%	14.7%	12.9%	12.0%	13.0%	14.8%	13.6%
Operating margin	1.8%	2.1%	11.3%	2.1%	2.4%	1.7%	2.2%	2.9%
Net margin	0.9%	1.5%	5.2%	1.2%	2.0%	2.6%	1.2%	0.8%
Current ratio	1.35×	2.88×	2.89×	2.13×	2.21×	3.01×	2.37×	2.28×
Debt / equity	0.22×	0.03×	0.05×	0.26×	0.19×	0.08×	0.15×	0.21×
Interest coverage	2.92×	3.78×	16.46×	3.07×	3.53×	5.77×	2.77×	3.46×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	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	1.9%	3.7%	13.0%	3.4%	5.9%	6.4%	3.2%	2.4%
Return on invested capital	2.2%	3.0%	22.9%	3.4%	3.8%	3.0%	5.0%	3.7%
Return on assets	1.4%	3.1%	10.2%	2.4%	4.3%	5.1%	2.3%	1.6%
Free cash flow yield	-5.5%	3.8%	15.4%	-1.0%	-1.9%	13.1%	49.3%	22.6%
Earnings yield	1.3%	1.9%	9.2%	4.2%	1.8%	9.8%	12.8%	3.8%
Enterprise value	₹108.8M	₹133M	₹87.2M	₹56.4M	₹191.1M	₹37M	₹18.8M	₹38.9M
Net debt / EBITDA	1.95×	0×	-0.33×	1.75×	1.11×	0.5×	1.53×	1.63×
Cash conversion cycle (days)	45	46	46	74	84	90	102	102