Balurghat Technologies Limited (BALTE.BO) 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

-638.2%

-₹59.90

vs ₹11.13 price

Levered DCF

-₹48.08

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

B-

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	25.47×	15.19×	16.73×	14.68×	16.84×	-16.88×	3.83×	10.83×
P/B	0.78×	1.81×	2.69×	1.55×	0.93×	0.84×	0.65×	0.91×
P/S	0.12×	0.36×	0.52×	0.31×	0.27×	0.17×	0.08×	0.16×
EV / EBITDA	10.54×	10.57×	11.14×	7.49×	7.44×	19.44×	3.15×	6.79×
Gross margin	5.9%	8.9%	8.8%	9.1%	7.2%	4.3%	6.2%	7.1%
Operating margin	2.2%	4.4%	5.0%	4.3%	2.0%	1.0%	3.2%	2.9%
Net margin	0.5%	2.4%	3.1%	2.1%	1.6%	-1.0%	2.0%	1.5%
Current ratio	1.49×	1.63×	2.09×	2.11×	3.39×	2.85×	6.2×	2.61×
Debt / equity	1.5×	1.18×	0.68×	0.9×	0.75×	0.93×	0.82×	0.69×
Interest coverage	1.16×	3.13×	4.01×	2.41×	0.75×	0.49×	2.13×	2.73×
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	3.1%	12.1%	16.1%	10.6%	5.5%	-5.0%	17.0%	8.4%
Return on invested capital	4.1%	6.9%	10.5%	7.5%	2.7%	2.5%	8.5%	6.5%
Return on assets	1.1%	5.0%	8.1%	4.0%	2.8%	-2.3%	7.8%	4.1%
Free cash flow yield	-46.8%	-26.0%	2.6%	13.4%	14.4%	-4.8%	-121.4%	-39.3%
Earnings yield	3.9%	6.7%	6.0%	6.8%	5.9%	-5.9%	26.2%	9.2%
Enterprise value	₹350.7M	₹468.8M	₹465.2M	₹259M	₹252.6M	₹283.4M	₹136.3M	₹133.8M
Net debt / EBITDA	6.34×	3.46×	1.31×	1.73×	2.52×	8.96×	1.42×	2.39×
Cash conversion cycle (days)	91	109	73	96	113	85	73	67