Bharat Wire Ropes Limited (BHARATWIRE.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

-21.4%

₹126.00

vs ₹160.35 price

Levered DCF

₹137.86

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

B-

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	14.91×	17.81×	20.42×	16.03×	31.45×	-9.2×	-0.83×	-5.92×
P/B	1.33×	1.75×	2.97×	1.78×	0.95×	0.36×	1.29×	2.64×
P/S	1.83×	2.08×	3.16×	1.69×	1.04×	0.62×	0.2×	1.12×
EV / EBITDA	8.76×	10.73×	12.8×	8.52×	11.06×	12.91×	25×	46.89×
Gross margin	31.6%	44.4%	47.0%	44.2%	13.4%	36.0%	35.9%	35.3%
Operating margin	18.1%	33.7%	23.0%	20.1%	9.9%	2.8%	2.8%	-1.0%
Net margin	12.3%	11.7%	15.5%	10.6%	3.3%	-6.7%	-23.9%	-18.9%
Current ratio	6.57×	4.57×	7.55×	3.82×	1.96×	1.83×	0.36×	0.56×
Debt / equity	0.09×	0.18×	0.2×	0.32×	0.6×	0.63×	17.26×	6.12×
Interest coverage	9.69×	15.68×	9.73×	5.61×	1.73×	0.2×	0.08×	-0.03×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.1%	0.1%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	8.9%	9.8%	14.6%	11.1%	3.0%	-3.9%	-156.1%	-44.7%
Return on invested capital	8.3%	16.8%	13.0%	10.2%	4.2%	0.7%	0.7%	-0.2%
Return on assets	7.3%	7.6%	11.8%	8.0%	1.8%	-2.2%	-8.1%	-5.8%
Free cash flow yield	1.2%	0.7%	3.1%	7.0%	5.4%	-158.9%	299.2%	25.9%
Earnings yield	6.7%	5.6%	4.9%	6.2%	3.2%	-10.9%	-121.1%	-16.9%
Enterprise value	₹11.5B	₹14.2B	₹21B	₹11.8B	₹7B	₹4.3B	₹7.2B	₹8.7B
Net debt / EBITDA	0.57×	0.99×	0.81×	1.31×	4.23×	8.25×	23.25×	32.74×
Cash conversion cycle (days)	157	164	150	132	105	177	192	194