ASI Industries Ltd. (ASIIL.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

+437.6%

₹117.47

vs ₹21.85 price

Levered DCF

₹38.28

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

3.6

Safe zone

Rating

A+

Overall 5 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	7.59×	11.98×	8.63×	5.76×	-8.7×	14.96×	1.86×	5.42×
P/B	0.48×	0.86×	0.67×	0.32×	0.44×	0.51×	0.18×	0.48×
P/S	1.15×	1.97×	1.5×	0.72×	0.63×	0.78×	0.28×	0.47×
EV / EBITDA	5.29×	7.69×	5.79×	5.01×	16.03×	12.75×	28.03×	7.87×
Gross margin	55.6%	51.8%	44.0%	26.6%	19.0%	19.5%	9.2%	18.5%
Operating margin	10.7%	12.7%	10.3%	14.2%	8.2%	8.9%	-2.1%	10.6%
Net margin	15.2%	16.4%	17.4%	12.6%	-7.2%	5.2%	15.1%	8.6%
Current ratio	2.79×	2.56×	3.73×	2.93×	3.26×	0.88×	0.84×	1.31×
Debt / equity	0.11×	0.09×	0.09×	0.1×	0.22×	0.87×	0.91×	0.88×
Interest coverage	6.99×	11.36×	6.67×	7.29×	1.42×	2.89×	-0.47×	3.03×
Dividend yield	2.1%	1.0%	0.8%	0.0%	0.0%	0.0%	5.1%	2.5%
Payout ratio	15.9%	12.4%	7.2%	0.0%	0.0%	0.0%	9.5%	13.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	6.3%	7.2%	7.8%	5.6%	-5.0%	3.4%	9.5%	8.8%
Return on invested capital	2.7%	3.5%	3.0%	4.1%	3.1%	2.2%	-0.7%	4.2%
Return on assets	5.3%	6.3%	6.8%	4.8%	-3.9%	1.6%	4.5%	4.2%
Free cash flow yield	8.3%	-3.1%	11.3%	18.8%	34.8%	-6.7%	-98.4%	-43.4%
Earnings yield	13.2%	8.4%	11.6%	17.4%	-11.5%	6.7%	53.6%	18.4%
Enterprise value	₹2.1B	₹3.4B	₹2.4B	₹1.2B	₹1.9B	₹4.7B	₹3.5B	₹3.4B
Net debt / EBITDA	0.96×	0.71×	0.64×	1×	5.19×	7.96×	23.3×	5.05×
Cash conversion cycle (days)	271	242	240	284	160	256	249	230