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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
-431.3%
-₹30.64
vs ₹9.25 price
Levered DCF
-₹37.88
After debt service
Piotroski score
2 / 9
Weak
Altman Z-score
-2.31
Distress zone
Rating
C
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-0.92×-1.19×-8.88×-2.76×-1.64×-1.58×45.72×4.35×
P/B-0.58×-3.45×1.53×1.09×0.78×0.53×0.4×0.28×
P/S3.61×3.08×1.87×1.19×0.91×0.58×0.22×0.15×
EV / EBITDA-5.11×-5.87×-45.23×-10.1×-6.84×-7.38×9.9×5.93×
Gross margin-25.4%36.8%29.7%-20.3%-40.9%-26.6%7.9%8.9%
Operating margin-414.7%-160.4%-24.9%-56.2%-58.7%-36.2%4.4%6.2%
Net margin-391.3%-257.9%-21.1%-43.3%-55.5%-36.7%0.5%3.5%
Current ratio0.22×0.45×0.67×0.64×0.83×1.15×1.86×2.14×
Debt / equity-2.45×-6.46×3.3×2.88×2.15×1.37×0.87×0.71×
Interest coverage-49.5×-48.63×-44.15×-51.29×-3.33×-2.68×0.97×1.84×
Dividend yield0.0%0.0%0.0%0.0%0.0%0.0%1.9%0.0%
Payout ratio0.0%0.0%0.0%0.0%0.0%0.0%87.4%0.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity62.3%288.9%-17.2%-39.5%-47.7%-33.5%0.9%6.4%
Return on invested capital-44.1%-32.6%-4.4%-10.3%-11.5%-8.6%2.4%5.7%
Return on assets-37.9%-48.1%-3.7%-9.4%-14.0%-11.0%0.4%3.2%
Free cash flow yield0.0%-7.4%4.3%9.3%-21.9%-40.0%-45.4%-162.4%
Earnings yield-108.3%-83.8%-11.3%-36.3%-61.1%-63.4%2.2%23.0%
Enterprise value₹781.1M₹956.7M₹884.1M₹854.4M₹877.6M₹836M₹734.9M₹575.1M
Net debt / EBITDA-4.14×-3.81×-30.83×-7.33×-5.01×-5.3×6.73×4.23×
Cash conversion cycle (days)7091,121941486419344261247