AVT Natural Products Limited (AVTNPL.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

+34.5%

₹132.49

vs ₹98.50 price

Levered DCF

₹67.96

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

Overall 3 / 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	12.73×	17.68×	24.66×	15.63×	27.29×	15.15×	10.61×	19.74×
P/B	1.48×	1.68×	2.8×	2.81×	5.39×	2.21×	1.31×	1.64×
P/S	1.16×	1.53×	2.54×	2.08×	3.59×	1.41×	0.91×	1.21×
EV / EBITDA	8.75×	10.73×	14.49×	10.13×	17.59×	9.28×	6.22×	10.92×
Gross margin	39.1%	39.4%	25.0%	29.0%	52.2%	44.6%	48.9%	16.5%
Operating margin	11.0%	10.2%	13.1%	18.9%	15.7%	11.6%	7.0%	10.4%
Net margin	9.1%	8.7%	10.3%	13.3%	13.1%	9.3%	8.6%	6.1%
Current ratio	2.71×	2.9×	4.53×	5.62×	5.39×	3.4×	3.32×	2.6×
Debt / equity	0.2×	0.22×	0.09×	0.09×	0.07×	0.17×	0.17×	0.32×
Interest coverage	8.47×	5.95×	9.72×	20.52×	19.75×	14×	4.97×	16.88×
Dividend yield	1.4%	1.4%	1.0%	1.3%	0.6%	1.4%	2.3%	1.8%
Payout ratio	17.6%	25.3%	25.7%	19.7%	16.7%	21.9%	24.3%	35.2%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	11.6%	9.5%	11.3%	18.0%	19.8%	14.6%	12.4%	8.3%
Return on invested capital	9.0%	6.9%	9.8%	17.2%	16.4%	11.3%	6.4%	7.1%
Return on assets	7.7%	6.5%	8.9%	14.8%	16.2%	10.6%	9.0%	5.4%
Free cash flow yield	-2.5%	-5.9%	6.2%	3.6%	3.3%	0.4%	15.6%	-12.2%
Earnings yield	7.9%	5.7%	4.1%	6.4%	3.7%	6.6%	9.4%	5.1%
Enterprise value	₹9B	₹9.3B	₹13.3B	₹12.3B	₹20B	₹7.3B	₹3.9B	₹4.8B
Net debt / EBITDA	0.76×	0.88×	0.19×	0.14×	0.1×	0.51×	0.47×	1.62×
Cash conversion cycle (days)	282	313	202	239	206	249	257	237