Bafna Pharmaceuticals Limited (BAFNAPH.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

-102.8%

-₹12.21

vs ₹430.20 price

Levered DCF

-₹73.27

After debt service

Piotroski score

5 / 9

Average

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	23.31×	42.51×	25.8×	17.12×	57.31×	55.87×	-16.84×	-0.58×
P/B	2.69×	2.09×	2.35×	2.64×	4.84×	5.73×	0.62×	0.57×
P/S	1.72×	1.22×	1.24×	1.68×	3.52×	4.57×	0.75×	0.25×
EV / EBITDA	14.21×	17.16×	14.53×	11.01×	27.65×	32.4×	19.06×	-4.43×
Gross margin	13.4%	11.6%	29.7%	15.2%	16.1%	36.2%	4.5%	-8.1%
Operating margin	6.6%	4.3%	4.2%	9.0%	7.6%	8.2%	-4.7%	-15.7%
Net margin	7.4%	2.8%	4.8%	9.8%	6.1%	8.2%	-4.4%	-43.3%
Current ratio	1.57×	1.63×	1.75×	1.88×	2.31×	2.04×	2.1×	0.68×
Debt / equity	0.39×	0.33×	0.3×	0.31×	0.18×	0.23×	0.06×	2.43×
Interest coverage	2.7×	2.3×	2.77×	5.1×	8.19×	7.89×	-20.76×	-3.22×
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	11.5%	4.9%	9.1%	15.4%	8.4%	10.3%	-3.7%	-99.0%
Return on invested capital	7.2%	5.4%	5.9%	10.4%	8.8%	8.1%	-3.7%	-9.5%
Return on assets	6.3%	2.7%	5.0%	8.7%	5.8%	6.7%	-2.6%	-15.8%
Free cash flow yield	-5.1%	-1.3%	-3.2%	-1.7%	0.7%	-6.1%	-112.8%	-19.5%
Earnings yield	4.3%	2.3%	3.9%	5.8%	1.7%	1.8%	-5.9%	-173.4%
Enterprise value	₹2.9B	₹2B	₹2.1B	₹2.1B	₹3.1B	₹3.4B	₹264.8M	₹569.7M
Net debt / EBITDA	1.71×	2.1×	1.57×	0.8×	0.98×	1.08×	-3.72×	-3.59×
Cash conversion cycle (days)	100	92	89	107	104	87	42	-111