Aditya Vision Ltd. (AVL.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

-70.1%

₹157.84

vs ₹527.40 price

Levered DCF

₹353.26

After debt service

Piotroski score

—

Altman Z-score

—

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021
P/E	51.56×	54.03×	69.58×	83.16×	151.28×
P/B	8.75×	9.77×	0×	0×	0×
P/S	2.26×	2.52×	3.08×	4.03×	5.93×
EV / EBITDA	27.8×	29.07×	0×	0×	0×
Gross margin	15.6%	15.7%	15.9%	16.0%	15.8%
Operating margin	7.0%	7.6%	8.1%	8.5%	7.5%
Net margin	4.4%	4.7%	4.4%	4.9%	3.9%
Current ratio	1.9×	1.99×	0×	0×	0×
Debt / equity	0.83×	0.82×	0×	0×	0×
Interest coverage	4.82×	5.4×	3.65×	3.81×	2.65×
Dividend yield	0.2%	0.0%	0.3%	0.1%	0.1%
Payout ratio	10.8%	0.1%	19.8%	11.3%	17.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021
Return on equity	17.0%	18.1%	0.0%	0.0%	0.0%
Return on invested capital	11.1%	11.8%	0.0%	0.0%	0.0%
Return on assets	7.9%	737.6%	0.0%	0.0%	0.0%
Free cash flow yield	0.7%	-0.0%	0.0%	0.0%	0.0%
Earnings yield	1.9%	1.8%	1.4%	1.2%	0.7%
Enterprise value	₹65.7B	₹61.6B	₹0	₹0	₹0
Net debt / EBITDA	2.3×	2.14×	0×	0×	0×
Cash conversion cycle (days)	104	106	0	0	0