Atam Valves Limited (ATAM.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

-290.7%

-₹105.01

vs ₹55.05 price

Levered DCF

-₹151.62

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	23.26×	15.34×	35.12×	28.81×	152.38×	179.63×	3,192.92×	279.68×
P/B	1.48×	2.65×	6.6×	8.83×	21.12×	15.78×	27.3×	41.79×
P/S	1.19×	1.6×	3.9×	4.5×	11.47×	8.59×	8.16×	9.98×
EV / EBITDA	14.19×	10.84×	21.32×	20.49×	73.95×	66.6×	75.65×	78.73×
Gross margin	21.7%	42.9%	44.5%	43.5%	46.0%	44.2%	49.3%	46.4%
Operating margin	9.1%	15.6%	29.8%	20.8%	11.0%	9.6%	6.2%	9.8%
Net margin	5.1%	10.4%	11.1%	15.6%	6.7%	4.8%	0.3%	3.6%
Current ratio	2.88×	3.11×	2.61×	2.88×	2.43×	2.7×	2.03×	3.27×
Debt / equity	0.39×	0.33×	0.41×	0.29×	0.54×	0.46×	1.75×	2.46×
Interest coverage	4.16×	10.74×	13.71×	27.45×	5.33×	3.13×	1.21×	1.7×
Dividend yield	1.7%	0.9%	0.8%	0.4%	0.2%	0.0%	0.0%	0.0%
Payout ratio	40.2%	13.6%	27.0%	12.2%	30.2%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	6.3%	17.3%	18.8%	30.7%	12.4%	8.8%	0.9%	15.0%
Return on invested capital	5.9%	14.2%	25.7%	24.0%	9.6%	8.5%	1.4%	8.6%
Return on assets	4.2%	11.7%	11.7%	20.0%	6.9%	4.8%	0.3%	3.8%
Free cash flow yield	-1.7%	-8.1%	2.4%	-3.6%	-0.0%	0.1%	2.3%	1.7%
Earnings yield	4.3%	6.5%	2.8%	3.5%	0.6%	0.6%	0.0%	0.4%
Enterprise value	₹698.5M	₹1.1B	₹2.1B	₹2.3B	₹2.4B	₹1.6B	₹1.4B	₹1.9B
Net debt / EBITDA	2.78×	1.2×	0.29×	0.64×	1.84×	1.87×	4.56×	4.36×
Cash conversion cycle (days)	414	395	337	297	388	330	386	365