Asian Energy Services Limited (ASIANENE.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

-386.4%

-₹1,140.57

vs ₹398.30 price

Levered DCF

-₹1,093.13

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

—

Rating

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	20.9×	28.84×	42.82×	-9.38×	11.15×	23.88×	18.53×	59.85×
P/B	2.16×	3.16×	3.92×	2.09×	1.79×	2.65×	2.99×	3.58×
P/S	1.35×	2.71×	3.58×	3.82×	1.68×	2.37×	1.98×	2.81×
EV / EBITDA	11.73×	16.26×	23.91×	-19.46×	6×	10.74×	7.7×	17.26×
Gross margin	13.6%	21.7%	13.3%	5.3%	30.0%	25.5%	22.5%	24.1%
Operating margin	9.7%	10.4%	8.0%	-41.8%	14.9%	13.6%	17.6%	8.0%
Net margin	6.5%	9.1%	8.4%	-40.7%	15.1%	9.9%	10.7%	4.7%
Current ratio	2.11×	2.51×	2.19×	1.92×	2.29×	1.44×	1.54×	1.78×
Debt / equity	0.32×	0.06×	0.08×	0.11×	0.03×	0.02×	0.02×	0.07×
Interest coverage	7.18×	12.65×	11.83×	-18.5×	87.65×	84.6×	16.87×	2.71×
Dividend yield	0.4%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	8.6%	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	10.4%	10.6%	9.2%	-22.2%	16.1%	11.1%	16.1%	6.0%
Return on invested capital	8.6%	8.4%	7.2%	-20.5%	14.6%	13.7%	18.7%	9.5%
Return on assets	5.6%	7.1%	6.6%	-14.9%	11.5%	6.5%	9.5%	4.2%
Free cash flow yield	-2.8%	-4.1%	-7.2%	-0.9%	1.3%	-8.1%	13.8%	0.6%
Earnings yield	4.8%	3.3%	2.3%	-10.7%	9.0%	4.2%	5.4%	1.7%
Enterprise value	₹11.2B	₹12.6B	₹11B	₹4.2B	₹4.1B	₹5.2B	₹4.8B	₹5.5B
Net debt / EBITDA	0.52×	0.05×	0.3×	-0.18×	-0.29×	-0.38×	-0.94×	0.28×
Cash conversion cycle (days)	116	101	97	241	50	59	14	23