Ashoka Metcast Limited (ASHOKAMET.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

+272.4%

₹51.58

vs ₹13.85 price

Levered DCF

-₹108.15

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

B-

Overall 3 / 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	2.16×	5.9×	9.82×	13.14×	14.24×	121.07×	847.5×	-94.17×
P/B	0.19×	0.39×	0.45×	0.42×	0.73×	0.91×	0.89×	0.87×
P/S	0.84×	1.11×	0.71×	0.83×	0.44×	0.34×	0.83×	0×
EV / EBITDA	4.99×	5.67×	9.31×	11.43×	11.92×	25.89×	40.18×	-70.68×
Gross margin	42.1%	19.5%	19.3%	15.0%	13.4%	16.5%	8.7%	0.0%
Operating margin	20.3%	7.9%	17.6%	13.4%	11.8%	2.3%	2.7%	0.0%
Net margin	39.0%	18.8%	7.2%	6.3%	3.1%	0.3%	0.1%	0.0%
Current ratio	4.23×	6.48×	4.02×	4.77×	2.37×	1.86×	1.63×	2.46×
Debt / equity	0.47×	0.13×	0.16×	0.16×	0.51×	1.14×	0.72×	0.23×
Interest coverage	3.98×	1.98×	8.06×	9.88×	7.09×	1.32×	1.97×	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	8.9%	6.6%	4.6%	3.2%	5.1%	0.7%	0.1%	-0.9%
Return on invested capital	2.3%	2.1%	6.6%	4.2%	9.8%	2.0%	1.1%	-0.4%
Return on assets	5.2%	5.1%	3.5%	2.4%	2.8%	0.3%	0.1%	-0.7%
Free cash flow yield	-92.7%	-18.3%	15.1%	-112.7%	-49.4%	-43.3%	-114.2%	-40.3%
Earnings yield	46.3%	16.9%	10.2%	7.6%	7.0%	0.8%	0.1%	-1.1%
Enterprise value	₹792.7M	₹574.7M	₹632.1M	₹569.5M	₹504.1M	₹418M	₹324.9M	₹221.8M
Net debt / EBITDA	3.52×	1.39×	2.38×	2.88×	4.89×	14.38×	17.73×	-12.84×
Cash conversion cycle (days)	1,369	651	348	426	242	170	262	0