Ashnisha Industries Limited (ASHNI.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

-265.4%

-₹3.76

vs ₹2.27 price

Levered DCF

-₹30.42

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

C+

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	352.69×	169.15×	67.05×	103.31×	95.93×	-58.39×	-8.95×	10.1×
P/B	0.79×	0.47×	1.06×	2.34×	0.91×	0.92×	0.9×	2.5×
P/S	6.77×	5.91×	5.14×	6.71×	4.5×	3.99×	1.51×	0.55×
EV / EBITDA	100.64×	41.84×	-210.21×	-467.41×	-815.69×	64.71×	-26.39×	13.15×
Gross margin	-2.5%	1.6%	10.1%	2.6%	16.8%	21.4%	26.9%	13.7%
Operating margin	-17.2%	-93.6%	7.3%	-1.0%	-5.8%	20.5%	26.2%	5.8%
Net margin	1.9%	3.5%	7.7%	4.6%	4.7%	-6.8%	-16.8%	5.4%
Current ratio	16.23×	1.98×	3.56×	4.59×	5.32×	3.07×	10.19×	0.48×
Debt / equity	0.05×	0.76×	0.06×	0.03×	0.13×	0.07×	0.04×	4.31×
Interest coverage	-691.22×	-7.69×	74.33×	-15.81×	0×	0×	0×	0×
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	0.2%	0.3%	1.6%	1.6%	0.9%	-1.6%	-10.1%	24.8%
Return on invested capital	-1.3%	-0.5%	0.7%	-0.2%	-0.3%	3.2%	10.2%	4.7%
Return on assets	0.2%	0.1%	1.0%	1.1%	0.6%	-1.0%	-6.8%	4.2%
Free cash flow yield	-57.2%	-191.5%	4.6%	-6.8%	-44.4%	40.8%	-166.0%	141.9%
Earnings yield	0.3%	0.6%	1.5%	0.7%	1.0%	-1.7%	-11.1%	9.9%
Enterprise value	₹849.9M	₹744.6M	₹669.9M	₹1.3B	₹461.7M	₹289M	₹377.3M	₹1.1B
Net debt / EBITDA	-2.33×	25.79×	-9.2×	3.39×	-99.86×	-26.08×	1.97×	8.32×
Cash conversion cycle (days)	1,673	5,517	100	55	203	-36	207	116