The Bombay Burmah Trading Corporation, Limited (BBTC.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

+68.6%

₹2,108.30

vs ₹1,250.50 price

Levered DCF

₹7,118.44

After debt service

Piotroski score

3 / 9

Weak

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	7.42×	10.99×	17.64×	-3.38×	107.47×	20.97×	8.54×	14.64×
P/B	1.31×	2.19×	2.4×	1.4×	1.09×	1.41×	1×	1.91×
P/S	0.47×	0.66×	0.64×	0.33×	0.41×	0.57×	0.42×	0.78×
EV / EBITDA	2.63×	4×	3.65×	3.65×	4.53×	3.53×	3.39×	5.14×
Gross margin	35.5%	41.4%	44.1%	41.8%	39.0%	43.1%	41.5%	41.7%
Operating margin	15.8%	36.5%	38.8%	36.7%	34.1%	38.0%	35.9%	36.1%
Net margin	6.4%	6.1%	3.7%	-9.9%	0.4%	2.7%	4.9%	5.3%
Current ratio	1.19×	1.07×	1.23×	1.56×	1.81×	1.54×	1.31×	1.71×
Debt / equity	0.23×	0.28×	0.46×	1.62×	1.07×	0.49×	0.4×	0.2×
Interest coverage	22.47×	42.61×	18.57×	14.62×	19.98×	34.52×	35.27×	69.54×
Dividend yield	11.0%	8.1%	7.7%	12.0%	21.4%	0.1%	0.2%	2.2%
Payout ratio	81.4%	88.8%	135.3%	-40.6%	2024.4%	2.3%	1.4%	31.7%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	17.6%	19.9%	13.6%	-41.6%	1.2%	6.7%	11.7%	13.0%
Return on invested capital	20.4%	51.2%	51.6%	-1084.0%	20.9%	31.1%	31.6%	34.1%
Return on assets	8.5%	8.8%	5.3%	-12.1%	0.4%	3.0%	5.3%	6.3%
Free cash flow yield	24.7%	15.8%	13.0%	31.0%	14.5%	18.1%	22.5%	7.6%
Earnings yield	13.5%	9.1%	5.7%	-29.6%	1.1%	4.8%	11.7%	6.8%
Enterprise value	₹101.1B	₹135.7B	₹126.4B	₹116.6B	₹112.9B	₹98.1B	₹69.8B	₹99.1B
Net debt / EBITDA	0.23×	0.36×	0.41×	1.88×	2.12×	0.74×	0.91×	0.42×
Cash conversion cycle (days)	8	7	-6	23	46	37	42	49