Aspinwall and Company Limited (ASPINWALL.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

-42.2%

₹135.21

vs ₹234.00 price

Levered DCF

-₹508.13

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

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	12.42×	12.35×	19.32×	5.17×	8.79×	23.21×	-160.19×	19.13×
P/B	0.81×	0.93×	1.13×	0.84×	0.87×	1.05×	0.5×	0.99×
P/S	0.39×	0.53×	0.71×	0.51×	0.52×	0.6×	0.27×	0.52×
EV / EBITDA	12.88×	8.45×	11.12×	3×	6.22×	10.84×	54.33×	10.82×
Gross margin	38.4%	41.0%	37.2%	49.0%	68.2%	65.0%	56.9%	40.7%
Operating margin	2.9%	4.1%	0.6%	5.7%	5.4%	2.8%	-2.1%	2.0%
Net margin	3.2%	4.3%	3.7%	9.8%	5.9%	2.6%	-0.2%	2.7%
Current ratio	1.84×	1.9×	2.48×	2.44×	1.93×	1.68×	1.51×	1.56×
Debt / equity	0.4×	0.36×	0.16×	0.09×	0.19×	0.27×	0.34×	0.48×
Interest coverage	1.79×	3.52×	0.52×	10.43×	5.15×	1.62×	-0.99×	0.72×
Dividend yield	3.1%	2.6%	2.3%	3.2%	2.0%	0.0%	7.4%	1.9%
Payout ratio	38.5%	32.3%	43.5%	16.4%	17.5%	0.5%	-1195.2%	36.6%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	6.6%	7.5%	5.8%	16.2%	9.9%	4.5%	-0.3%	5.2%
Return on invested capital	3.7%	4.7%	0.9%	6.8%	6.0%	2.6%	-2.0%	2.1%
Return on assets	4.0%	4.7%	4.3%	11.6%	6.4%	2.8%	-0.2%	2.8%
Free cash flow yield	-22.0%	-24.8%	-3.8%	20.4%	8.0%	10.0%	42.7%	7.9%
Earnings yield	8.0%	8.1%	5.2%	19.3%	11.4%	4.3%	-0.6%	5.2%
Enterprise value	₹2.3B	₹2.1B	₹2B	₹1.3B	₹1.6B	₹1.8B	₹1.1B	₹2B
Net debt / EBITDA	3.76×	1.33×	-0.33×	-0.53×	0.84×	1.97×	20.68×	3.38×
Cash conversion cycle (days)	232	234	153	167	349	276	252	259