Avalon Technologies Limited (AVALON.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

-103.6%

-₹72.54

vs ₹2,009.90 price

Levered DCF

-₹169.81

After debt service

Piotroski score

3 / 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
P/E	54.75×	80.03×	118.03×	42.8×	35.19×	99.25×	180.09×
P/B	8.57×	8.42×	6.03×	4.18×	25.05×	35.57×	44.55×
P/S	3.86×	4.69×	3.81×	2.38×	2.65×	3.09×	3.24×
EV / EBITDA	31.27×	45.53×	44.36×	19.11×	20.08×	33.75×	36.04×
Gross margin	14.7%	12.8%	10.0%	14.5%	34.0%	33.9%	35.9%
Operating margin	8.7%	8.0%	4.7%	10.0%	9.5%	7.7%	7.6%
Net margin	7.0%	5.8%	3.2%	5.6%	7.5%	3.1%	1.9%
Current ratio	2.05×	2.22×	2.53×	1.86×	1.13×	1×	0.85×
Debt / equity	0.3×	0.29×	0.38×	0.64×	3.58×	5.28×	5.89×
Interest coverage	9.31×	5.24×	2.57×	3.36×	3.56×	1.97×	1.35×
Dividend yield	0.0%	0.1%	0.1%	0.2%	0.2%	0.2%	0.0%
Payout ratio	0.5%	8.2%	14.8%	10.4%	6.0%	17.1%	2.8%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Return on equity	15.6%	10.4%	5.1%	9.8%	71.2%	35.9%	26.5%
Return on invested capital	10.8%	8.0%	3.9%	7.6%	15.1%	12.1%	13.8%
Return on assets	8.9%	6.1%	3.0%	4.4%	10.8%	4.2%	2.7%
Free cash flow yield	-0.1%	-0.4%	-0.6%	-3.1%	-0.1%	-0.6%	2.3%
Earnings yield	1.8%	1.2%	0.8%	2.3%	2.8%	1.0%	0.6%
Enterprise value	₹63.3B	₹52.3B	₹34.1B	₹21.7B	₹25.3B	₹24.2B	₹23.2B
Net debt / EBITDA	0.7×	0.68×	1.33×	-0.71×	2.44×	3.95×	3.87×
Cash conversion cycle (days)	143	162	182	176	154	113	84