Add-Shop E-Retail Limited (ASRL.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

-51.5%

₹2.68

vs ₹5.53 price

Levered DCF

-₹97.09

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

C+

Overall 2 / 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	15.08×	7.82×	19.66×	4.24×	2.9×	9.2×	58.59×	62.41×
P/B	0.14×	0.23×	0.56×	0.65×	1.79×	3.48×	5.6×	4.69×
P/S	0.1×	0.17×	0.31×	0.35×	0.44×	0.9×	1.89×	2.36×
EV / EBITDA	8.52×	10.13×	9.9×	2.43×	2.93×	6.9×	29.04×	31.21×
Gross margin	23.8%	24.5%	11.1%	22.5%	24.3%	28.0%	32.0%	47.0%
Operating margin	1.8%	3.7%	3.8%	15.6%	15.5%	14.4%	6.5%	7.6%
Net margin	0.7%	2.1%	1.6%	9.7%	12.0%	9.8%	3.2%	3.8%
Current ratio	5.96×	3.07×	7.55×	3.01×	5.55×	1.82×	1.56×	3.73×
Debt / equity	0.11×	0.34×	0.12×	0.01×	0.08×	0.45×	0.59×	0.23×
Interest coverage	2.26×	4.71×	8.85×	30.93×	24.83×	11.47×	3.27×	3.35×
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	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	0.9%	2.9%	2.9%	17.9%	48.5%	37.8%	9.5%	7.6%
Return on invested capital	1.4%	2.8%	3.3%	22.9%	46.9%	28.8%	8.4%	9.0%
Return on assets	0.7%	2.1%	2.5%	12.7%	37.6%	17.1%	3.6%	5.5%
Free cash flow yield	33.9%	-37.4%	-48.0%	-66.7%	7.0%	-2.6%	-5.4%	1.6%
Earnings yield	6.6%	12.6%	5.1%	27.4%	27.0%	10.9%	1.7%	1.6%
Enterprise value	₹281.2M	₹637.1M	₹737M	₹705.1M	₹728.4M	₹792.1M	₹778.2M	₹559.6M
Net debt / EBITDA	3.71×	5.95×	1.56×	0.02×	0.09×	0.75×	2.68×	1.33×
Cash conversion cycle (days)	332	318	206	195	102	117	141	248