Bhagwati Autocast Limited (BGWTATO.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

-138.3%

-₹193.67

vs ₹505.15 price

Levered DCF

₹122.94

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

5.8

Safe zone

Rating

A-

Overall 4 / 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	10.15×	15.75×	16.62×	11.04×	-51.23×	23.32×	14.26×	10.93×
P/B	2.24×	2.09×	2.82×	2.48×	1.81×	1.42×	1.15×	1.62×
P/S	0.77×	0.69×	0.86×	0.55×	0.44×	0.38×	0.31×	0.34×
EV / EBITDA	5.7×	8.32×	9.24×	6.29×	41.23×	8.71×	5.87×	5.98×
Gross margin	19.7%	26.0%	14.5%	9.7%	31.3%	38.2%	41.0%	37.3%
Operating margin	11.5%	16.1%	7.9%	7.8%	-0.7%	2.7%	3.9%	5.0%
Net margin	7.6%	4.4%	5.2%	5.0%	-0.9%	1.6%	2.2%	3.1%
Current ratio	2.04×	1.52×	1.88×	1.59×	1.19×	1.52×	1.53×	1.38×
Debt / equity	0.15×	0.24×	0.21×	0.31×	0.68×	0.17×	0.24×	0.35×
Interest coverage	21.74×	19.58×	10.34×	9.75×	-1.37×	6.42×	3.93×	5.45×
Dividend yield	0.5%	0.6%	0.5%	0.3%	0.6%	0.7%	1.1%	0.7%
Payout ratio	5.4%	9.3%	8.2%	3.7%	-30.7%	16.4%	15.8%	7.3%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	22.1%	13.2%	17.0%	22.4%	-3.5%	6.1%	8.1%	14.8%
Return on invested capital	18.1%	26.2%	14.5%	18.1%	-1.3%	6.0%	8.0%	12.8%
Return on assets	14.2%	7.3%	10.1%	11.3%	-1.5%	3.1%	4.1%	6.9%
Free cash flow yield	9.0%	-4.5%	2.7%	13.8%	-25.3%	5.3%	11.7%	-0.8%
Earnings yield	9.8%	6.4%	6.0%	9.1%	-2.0%	4.3%	7.0%	9.2%
Enterprise value	₹1.3B	₹1.1B	₹1.2B	₹932.4M	₹673.7M	₹449.1M	₹371.1M	₹490.5M
Net debt / EBITDA	-0.01×	0.84×	0.42×	0.54×	11.24×	0.93×	0.99×	1.06×
Cash conversion cycle (days)	42	33	42	32	23	42	44	42