Avro India Limited (AVROIND.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

-347.3%

-₹14.10

vs ₹5.70 price

Levered DCF

-₹31.02

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

—

Rating

Overall 2 / 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	30.86×	53.52×	28.13×	30.07×	20.85×	7.11×	14.87×	16.24×
P/B	1.61×	1.89×	3.93×	5.03×	3×	0.69×	1.28×	1.15×
P/S	1.52×	2.05×	1.22×	1.56×	0.96×	0.23×	0.39×	0.28×
EV / EBITDA	38.02×	14.53×	13.11×	15.89×	12.3×	3.89×	6.11×	5.4×
Gross margin	22.3%	23.7%	22.6%	23.1%	14.9%	14.3%	12.1%	12.8%
Operating margin	-1.2%	1.6%	19.0%	5.6%	6.0%	4.4%	3.7%	3.7%
Net margin	4.9%	3.9%	4.3%	5.2%	4.6%	3.3%	2.6%	1.7%
Current ratio	3.59×	3.33×	1.58×	1.94×	1.62×	2.14×	2.16×	1.74×
Debt / equity	0.2×	0.23×	0.54×	0.47×	0.37×	0.23×	0.2×	0.28×
Interest coverage	-0.68×	0.8×	12.86×	4.65×	9.15×	9.1×	5.25×	5.89×
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	5.1%	3.6%	14.0%	16.7%	14.4%	9.9%	8.6%	7.0%
Return on invested capital	-0.7%	0.9%	28.4%	8.7%	10.3%	9.0%	8.3%	7.7%
Return on assets	3.8%	2.6%	7.4%	10.1%	8.0%	7.8%	5.8%	4.3%
Free cash flow yield	-9.2%	-9.3%	-2.8%	-2.0%	-6.1%	-6.2%	3.2%	-31.2%
Earnings yield	3.2%	1.9%	3.6%	3.3%	4.8%	14.3%	6.7%	6.1%
Enterprise value	₹1.3B	₹1.4B	₹1.3B	₹1.4B	₹692.8M	₹159.6M	₹193.5M	₹168.3M
Net debt / EBITDA	-3.43×	-2.35×	1.55×	1.29×	1.29×	0.92×	0.76×	0.93×
Cash conversion cycle (days)	168	147	80	92	86	69	55	46