Ashnoor Textile Mills Ltd. (ASHNOOR.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

+120.1%

₹109.81

vs ₹49.90 price

Levered DCF

₹53.29

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

2.16

Grey zone

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	6.62×	4.79×	7.98×	5.94×	9.92×	4.05×	3.93×	4.96×
P/B	0.59×	0.88×	0.93×	0.64×	1.76×	0.45×	0.35×	0.63×
P/S	0.49×	0.43×	0.46×	0.21×	0.34×	0.16×	0.09×	0.16×
EV / EBITDA	5.82×	4.68×	6.74×	6.78×	9.81×	6.6×	8.14×	6.93×
Gross margin	19.8%	20.5%	22.3%	14.2%	17.2%	17.4%	16.7%	20.3%
Operating margin	10.7%	11.0%	11.6%	6.9%	5.8%	6.9%	4.8%	8.6%
Net margin	7.5%	8.9%	5.8%	3.6%	3.4%	4.6%	2.4%	3.2%
Current ratio	2.57×	1.89×	1.67×	1.85×	1.43×	1.36×	1.27×	1.25×
Debt / equity	0.59×	0.74×	1.18×	1.25×	1.94×	1.42×	1.69×	1.43×
Interest coverage	2.92×	4.08×	2.83×	2.8×	4.32×	3.65×	2.6×	3.7×
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	8.9%	18.5%	11.6%	10.8%	17.7%	13.1%	9.0%	12.8%
Return on invested capital	6.2%	9.9%	7.9%	6.7%	7.5%	6.1%	5.1%	11.3%
Return on assets	5.2%	9.6%	4.8%	4.4%	5.0%	4.4%	2.8%	4.3%
Free cash flow yield	49.8%	13.3%	15.1%	98.3%	-27.6%	-9.3%	-38.8%	-45.4%
Earnings yield	15.1%	20.9%	12.5%	16.9%	10.1%	29.0%	25.4%	20.1%
Enterprise value	₹1.1B	₹1.4B	₹1.3B	₹1B	₹1.8B	₹768.1M	₹734M	₹663.7M
Net debt / EBITDA	2.85×	2.09×	3.67×	4.42×	4.91×	4.99×	6.73×	4.78×
Cash conversion cycle (days)	221	179	237	163	147	76	184	141