Belrise Industries Ltd. (BELRISE.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

-65.4%

₹73.60

vs ₹212.81 price

Levered DCF

₹61.05

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

C-

Overall 1 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	32.53×	24.41×	27.59×	27.67×	33.13×	36.21×	26.83×	34.67×
P/B	3.09×	3.21×	3.7×	4.24×	4.99×	4.53×	5×	6.26×
P/S	1.7×	1.07×	1.19×	1.36×	1.67×	1.53×	1.55×	1.68×
EV / EBITDA	14.54×	10.78×	11.21×	12×	14.77×	15.17×	14.73×	15.13×
Gross margin	10.4%	16.2%	16.0%	16.2%	17.2%	22.8%	22.9%	23.6%
Operating margin	8.4%	8.5%	8.3%	8.9%	9.8%	17.6%	16.6%	17.0%
Net margin	5.2%	4.4%	4.3%	4.9%	5.0%	4.2%	5.8%	4.9%
Current ratio	1.97×	1.34×	1.52×	1.34×	1.35×	1.45×	1.49×	1.34×
Debt / equity	0.29×	1.1×	1.07×	1.15×	1.52×	1.64×	1.46×	1.72×
Interest coverage	3.45×	2.25×	2.1×	2.27×	2.36×	0×	0×	0×
Dividend yield	0.3%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	9.5%	0.0%	0.6%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	9.5%	13.2%	13.4%	15.3%	15.1%	12.5%	18.6%	18.1%
Return on invested capital	8.7%	9.6%	10.1%	11.1%	9.6%	17.1%	20.5%	17.9%
Return on assets	5.8%	4.9%	5.2%	5.5%	5.0%	3.9%	5.9%	5.2%
Free cash flow yield	1.6%	-1.9%	1.5%	6.4%	-0.4%	-0.8%	0.8%	-0.5%
Earnings yield	3.1%	4.1%	3.6%	3.6%	3.0%	2.8%	3.7%	2.9%
Enterprise value	₹168.8B	₹115.5B	₹109.9B	₹109.2B	₹112.6B	₹88.9B	₹80.9B	₹76.5B
Net debt / EBITDA	0.62×	2.69×	2.37×	2.47×	3.4×	3.94×	3.22×	3.15×
Cash conversion cycle (days)	58	93	94	90	97	69	45	47