BASF India Limited (BASF.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

-3.4%

₹3,057.49

vs ₹3,166.10 price

Levered DCF

₹1,656.54

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

B-

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	33.11×	40.17×	27.29×	24.45×	22.51×	16.21×	213.12×	75.83×
P/B	3.51×	5.29×	4.77×	3.65×	5.73×	5.02×	3.92×	4.39×
P/S	0.93×	1.26×	1.12×	0.72×	1.02×	0.94×	0.64×	1.03×
EV / EBITDA	18.15×	22.15×	15.44×	12.97×	14.09×	8.66×	21.89×	18.46×
Gross margin	12.1%	14.7%	16.3%	15.2%	16.4%	17.8%	19.7%	22.3%
Operating margin	3.4%	4.0%	5.5%	4.3%	6.1%	5.6%	2.0%	0.1%
Net margin	2.8%	3.1%	4.1%	3.0%	4.5%	5.8%	0.3%	1.4%
Current ratio	1.69×	1.56×	1.59×	1.47×	1.37×	1.27×	1.17×	1.26×
Debt / equity	0.03×	0.05×	0.05×	0.04×	0.05×	0.16×	0.66×	0.65×
Interest coverage	26.91×	42.74×	48.48×	41.72×	40.79×	15.77×	2.3×	0.03×
Dividend yield	0.6%	0.3%	0.2%	0.3%	0.3%	0.1%	0.5%	0.3%
Payout ratio	20.6%	13.5%	6.1%	6.4%	7.3%	2.3%	114.0%	19.3%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	10.6%	13.2%	17.5%	14.9%	25.5%	30.9%	1.8%	5.8%
Return on invested capital	9.1%	11.5%	16.1%	14.8%	24.6%	16.3%	6.6%	0.2%
Return on assets	5.0%	5.7%	7.8%	6.1%	9.7%	10.7%	0.5%	2.1%
Free cash flow yield	-2.2%	0.9%	4.6%	4.5%	1.5%	4.6%	10.1%	-2.6%
Earnings yield	3.0%	2.5%	3.7%	4.1%	4.4%	6.2%	0.5%	1.3%
Enterprise value	₹131.7B	₹186.6B	₹149.1B	₹95.9B	₹133.8B	₹90.7B	₹56.1B	₹71B
Net debt / EBITDA	-1.02×	-0.7×	-0.48×	-0.35×	-0×	0.11×	2.89×	2.34×
Cash conversion cycle (days)	41	39	37	26	28	26	25	63