Aspira Pathlab & Diagnostics Limited (ASPIRA.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

-50.8%

₹67.65

vs ₹137.55 price

Levered DCF

₹35.26

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

—

Rating

C-

Overall 1 / 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	1,117×	40.28×	-12.6×	-323.09×	14.97×	19.66×	-7.74×	-3.87×
P/B	4.68×	6.83×	3.32×	2.25×	5.22×	3.26×	8.64×	3.87×
P/S	2.29×	3.78×	2.55×	1.98×	3.41×	1.78×	3.9×	2.63×
EV / EBITDA	40.57×	23.99×	-46.54×	16.41×	10.82×	7.76×	-26.56×	-8.49×
Gross margin	35.3%	38.6%	74.3%	78.8%	77.0%	68.1%	71.8%	69.8%
Operating margin	-0.3%	9.4%	-20.6%	0.1%	25.9%	13.6%	-41.4%	-57.8%
Net margin	0.2%	9.2%	-20.2%	-0.6%	22.8%	9.1%	-50.4%	-67.9%
Current ratio	1.43×	2.26×	2.1×	3.7×	3.99×	1.93×	0.64×	0.55×
Debt / equity	0.27×	0.26×	0.27×	0.26×	0.31×	0.25×	2.34×	1.46×
Interest coverage	-0.19×	5.94×	-7.41×	0.02×	13.6×	2.32×	-3.44×	-4.59×
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	0.4%	16.6%	-26.3%	-0.7%	34.9%	16.6%	-111.6%	-99.8%
Return on invested capital	-0.5%	13.0%	-20.4%	0.0%	29.8%	19.5%	-27.0%	-32.9%
Return on assets	0.3%	11.6%	-18.2%	-0.5%	24.6%	11.7%	-29.6%	-35.0%
Free cash flow yield	1.9%	1.8%	2.3%	-0.5%	2.1%	19.8%	-5.8%	-19.4%
Earnings yield	0.1%	2.4%	-7.9%	-0.3%	6.7%	5.1%	-12.9%	-25.8%
Enterprise value	₹593.6M	₹845.8M	₹356.4M	₹314.1M	₹692.7M	₹280.3M	₹416.1M	₹275.7M
Net debt / EBITDA	1.41×	0.41×	-2.58×	1.44×	0.4×	0.25×	-5.61×	-2.31×
Cash conversion cycle (days)	15	33	32	66	67	19	34	56