Banaras Beads Limited (BANARBEADS.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

-147.0%

-₹49.10

vs ₹104.55 price

Levered DCF

-₹304.89

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

2.81

Grey zone

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	38.01×	27.08×	23.2×	20.23×	20.91×	13.77×	8.34×	27.39×
P/B	1.17×	1.5×	1.18×	0.97×	1.18×	0.66×	0.41×	0.7×
P/S	2.65×	2.65×	2.34×	1.98×	2.51×	1.65×	0.83×	1.93×
EV / EBITDA	21.79×	14.84×	13.45×	10.44×	12.17×	7.59×	4×	9.73×
Gross margin	43.6%	39.4%	48.8%	26.2%	55.8%	43.4%	42.2%	47.8%
Operating margin	9.6%	8.6%	2.0%	5.5%	4.4%	7.6%	10.8%	6.9%
Net margin	7.0%	9.8%	10.1%	9.8%	12.0%	12.0%	9.9%	7.0%
Current ratio	2.67×	3.5×	9.26×	12.13×	5.02×	5.74×	12.7×	9.52×
Debt / equity	0.36×	0.15×	0.06×	0.01×	0.11×	0.09×	0×	0.02×
Interest coverage	1.36×	4.09×	3.97×	6.57×	4.3×	10.89×	22.89×	7.08×
Dividend yield	0.0%	1.8%	2.1%	2.6%	2.2%	0.0%	0.0%	0.3%
Payout ratio	0.0%	48.4%	48.2%	52.2%	45.4%	0.0%	0.0%	6.9%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	3.1%	5.5%	5.1%	4.8%	5.7%	4.8%	4.9%	2.5%
Return on invested capital	2.4%	3.2%	0.7%	2.0%	1.4%	2.1%	3.9%	1.8%
Return on assets	2.2%	4.6%	4.6%	4.5%	4.9%	4.3%	4.7%	2.4%
Free cash flow yield	-20.9%	3.0%	-7.0%	-11.0%	-20.4%	-18.1%	9.1%	0.2%
Earnings yield	2.6%	3.7%	4.3%	4.9%	4.8%	7.3%	12.0%	3.7%
Enterprise value	₹875M	₹907.2M	₹668.9M	₹508M	₹649.6M	₹362.2M	₹185.7M	₹310.4M
Net debt / EBITDA	4.99×	1.18×	0.6×	-0.13×	0.73×	0.68×	-0.21×	-0.18×
Cash conversion cycle (days)	906	560	725	965	675	601	375	643