Bajaj Hindusthan Sugar Limited (BAJAJHIND.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

+988.3%

₹198.84

vs ₹18.27 price

Levered DCF

₹168.53

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

-0.17

Distress zone

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	22.61×	-100.74×	-46.23×	-11.94×	-6.37×	-2.35×	-5.89×	-6.81×
P/B	0.76×	0.56×	0.89×	0.36×	0.75×	0.29×	0.11×	0.33×
P/S	0.53×	0.43×	0.65×	0.25×	0.31×	0.1×	0.04×	0.14×
EV / EBITDA	17.34×	19.12×	26.82×	20.64×	32.82×	32.44×	12.24×	17.61×
Gross margin	20.0%	10.1%	18.0%	3.2%	2.1%	13.6%	15.6%	11.5%
Operating margin	2.8%	1.3%	0.5%	0.8%	-0.8%	-0.8%	3.8%	1.4%
Net margin	2.3%	-0.4%	-1.4%	-2.1%	-4.9%	-4.4%	-0.8%	-2.0%
Current ratio	0.56×	0.57×	0.56×	0.56×	1.03×	1.1×	1.19×	1.21×
Debt / equity	0.93×	0.85×	0.86×	0.97×	2.13×	2.28×	2.04×	2.17×
Interest coverage	4.58×	0.72×	0.17×	0.24×	-0.17×	-0.2×	0.83×	0.29×
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%	-0.3%	-0.1%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	3.3%	-0.6%	-1.9%	-3.0%	-11.8%	-12.3%	-1.9%	-4.9%
Return on invested capital	1.7%	0.8%	0.3%	0.5%	-0.5%	-0.6%	2.7%	1.0%
Return on assets	0.9%	-0.2%	-0.5%	-0.8%	-2.1%	-2.2%	-0.4%	-1.0%
Free cash flow yield	4.0%	10.7%	16.0%	49.0%	35.8%	49.4%	302.2%	118.4%
Earnings yield	4.4%	-1.0%	-2.2%	-8.4%	-15.7%	-42.6%	-17.1%	-14.7%
Enterprise value	₹63.4B	₹58.8B	₹77.6B	₹58.9B	₹64.7B	₹60.2B	₹56.9B	₹69B
Net debt / EBITDA	9.46×	11.38×	13.1×	15.01×	24.17×	28.76×	11.61×	15.23×
Cash conversion cycle (days)	-58	-56	-57	-129	-57	-49	-42	-14