Bihar Sponge Iron Limited (BIHSPONG.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

-178.8%

-₹9.42

vs ₹11.95 price

Levered DCF

₹3.47

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

Overall 2 / 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	8.81×	10.77×	17.24×	6.29×	11.66×	4.84×	-3.93×	-71.9×
P/B	-2.93×	-2.46×	-2.3×	-1.21×	-1.28×	-0.23×	-0.04×	-0.09×
P/S	0.41×	0.35×	0.48×	0.17×	1.12×	0.87×	0×	0×
EV / EBITDA	-50.61×	-38.28×	11.5×	12.81×	19×	29.1×	39.01×	23.86×
Gross margin	3.1%	4.7%	6.9%	12.5%	20.7%	42.2%	0.0%	0.0%
Operating margin	-3.3%	4.8%	-3.1%	2.3%	3.5%	8.5%	0.0%	0.0%
Net margin	4.6%	3.3%	2.8%	2.6%	9.6%	17.9%	0.0%	0.0%
Current ratio	1.13×	0.76×	0.71×	0.55×	0.36×	0.12×	0.09×	0.1×
Debt / equity	-3.28×	-2.42×	-2.13×	-2.15×	-1.58×	-1.45×	-1.06×	-1.09×
Interest coverage	0×	3,617.98×	0×	3,735.93×	2,030.07×	7.62×	-879.86×	-103.79×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	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	-33.3%	-22.9%	-13.4%	-19.2%	-11.0%	-4.7%	0.9%	0.1%
Return on invested capital	-10.2%	20.4%	-11.3%	12.6%	5.8%	4.0%	-84.9%	-74.3%
Return on assets	12.3%	7.9%	4.1%	7.4%	5.8%	6.1%	-1.4%	-0.2%
Free cash flow yield	-2.3%	5.4%	13.6%	-22.6%	2.8%	51.3%	29.6%	-2.3%
Earnings yield	11.4%	9.3%	5.8%	15.8%	8.5%	20.6%	-25.4%	-1.4%
Enterprise value	₹2.1B	₹2.2B	₹2.5B	₹2.1B	₹2.1B	₹1.4B	₹962.6M	₹1B
Net debt / EBITDA	-26.66×	-18.98×	5.5×	8.17×	10.42×	25.11×	37.69×	22.02×
Cash conversion cycle (days)	49	1	-6	-3	-202	-236	-472	-396