Bengal & Assam Company Limited (BENGALASM.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

-42.4%

₹3,282.42

vs ₹5,700.00 price

Levered DCF

₹815.46

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

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	7.92×	11.4×	2.54×	4.39×	4.28×	3.03×	2.98×	5.48×
P/B	0.61×	0.85×	1.09×	0.75×	0.59×	0.39×	0.4×	0.66×
P/S	2.74×	3.9×	0.76×	0.25×	0.2×	0.15×	0.13×	0.16×
EV / EBITDA	14.18×	17.11×	2.09×	5.65×	5.89×	4.13×	8.55×	6.03×
Gross margin	49.3%	31.0%	39.5%	32.3%	33.4%	39.6%	39.3%	33.8%
Operating margin	13.7%	42.8%	11.6%	6.9%	6.5%	10.0%	8.0%	8.0%
Net margin	34.6%	34.5%	30.1%	5.7%	4.6%	4.9%	4.5%	2.9%
Current ratio	3.88×	4.35×	1.22×	1.15×	1.04×	1.06×	0.56×	2.37×
Debt / equity	0.05×	0.06×	0.03×	0.94×	1.21×	1.29×	2.63×	2.11×
Interest coverage	6.43×	20.69×	4.11×	2.34×	1.95×	2.06×	1.34×	1.74×
Dividend yield	0.9%	0.6%	0.6%	0.9%	1.4%	0.6%	4.2%	2.4%
Payout ratio	7.4%	6.8%	1.4%	4.1%	6.1%	1.9%	12.6%	13.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	7.7%	7.5%	43.0%	17.0%	13.8%	13.0%	13.5%	12.0%
Return on invested capital	2.4%	7.0%	13.0%	6.7%	5.5%	6.6%	7.2%	5.0%
Return on assets	6.6%	6.4%	37.2%	5.4%	3.8%	3.5%	3.2%	2.5%
Free cash flow yield	2.3%	2.0%	12.4%	21.1%	-0.2%	100.0%	84.5%	18.2%
Earnings yield	12.6%	8.8%	39.4%	22.8%	23.4%	33.0%	33.6%	18.2%
Enterprise value	₹69.8B	₹87.7B	₹101.5B	₹91B	₹80B	₹64.5B	₹101.1B	₹81.4B
Net debt / EBITDA	0.92×	0.97×	0.06×	3.09×	3.91×	3.14×	7.41×	4.57×
Cash conversion cycle (days)	108	108	19	77	79	82	77	73