BDH Industries Limited (BDH.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

+99.9%

₹845.18

vs ₹422.90 price

Levered DCF

₹474.06

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	18.78×	16.17×	16.85×	7.91×	10.58×	8.14×	5.19×	8.89×
P/B	2.64×	2.18×	2.67×	1.19×	1.57×	1.2×	0.81×	1.25×
P/S	2.12×	2.27×	1.96×	0.88×	1.11×	0.92×	0.53×	0.85×
EV / EBITDA	10.9×	8.91×	10.7×	3.76×	5.81×	3.91×	1.81×	4.97×
Gross margin	18.4%	35.6%	29.0%	32.7%	28.6%	34.0%	38.0%	37.2%
Operating margin	13.6%	15.7%	13.2%	14.1%	12.3%	13.7%	13.7%	12.3%
Net margin	11.3%	14.1%	11.6%	11.1%	10.5%	11.3%	10.2%	9.6%
Current ratio	4×	3.95×	2.37×	2.46×	2.51×	1.88×	1.69×	1.43×
Debt / equity	0.03×	0.01×	0.14×	0.09×	0.05×	0.2×	0.24×	0.38×
Interest coverage	213.65×	141.84×	61.55×	65.77×	37.49×	27.39×	11.63×	11.92×
Dividend yield	1.3%	1.7%	1.4%	3.2%	2.3%	2.8%	6.2%	3.6%
Payout ratio	24.0%	27.9%	23.3%	25.3%	23.9%	22.6%	32.1%	32.3%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	14.0%	13.5%	15.9%	15.0%	14.9%	14.8%	15.5%	14.1%
Return on invested capital	11.4%	10.8%	11.6%	12.8%	12.4%	10.7%	12.2%	9.4%
Return on assets	10.9%	10.7%	10.6%	10.3%	10.5%	9.0%	9.1%	7.3%
Free cash flow yield	-0.1%	9.7%	-2.3%	9.7%	3.7%	1.5%	36.6%	-9.3%
Earnings yield	5.3%	6.2%	5.9%	12.6%	9.5%	12.3%	19.3%	11.3%
Enterprise value	₹1.8B	₹1.2B	₹1.5B	₹443.5M	₹605.1M	₹383.5M	₹176.9M	₹391.7M
Net debt / EBITDA	-1.7×	-2.24×	-1.17×	-1.74×	-1.53×	-1.37×	-1.34×	-0.48×
Cash conversion cycle (days)	64	10	24	-4	5	-20	-36	-8