Bikaji Foods International Limited (BIKAJI.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

+167.3%

₹1,247.39

vs ₹466.60 price

Levered DCF

₹1,223.66

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

—

Rating

C+

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	60.32×	86.28×	46.66×	65.93×	101.75×	85.57×	136.83×	155.61×
P/B	9.69×	12.53×	10.18×	9.47×	9.59×	12.74×	14.59×	16.86×
P/S	5.2×	6.79×	5.55×	4.61×	4.89×	5.9×	7.2×	8.81×
EV / EBITDA	34.01×	48.77×	30.22×	39.31×	54.04×	49.95×	77.71×	77.58×
Gross margin	25.3%	29.2%	31.1%	28.0%	26.3%	27.5%	29.4%	14.5%
Operating margin	10.5%	10.0%	14.9%	9.0%	6.6%	8.7%	6.3%	7.8%
Net margin	8.6%	7.9%	11.9%	7.0%	4.8%	6.9%	5.3%	5.7%
Current ratio	2.47×	2.6×	2.28×	1.9×	1.8×	1.45×	2.19×	2.24×
Debt / equity	0.19×	0.17×	0.14×	0.18×	0.19×	0.14×	0.1×	0.16×
Interest coverage	17.69×	16.28×	29.65×	16.28×	14.75×	34.41×	12.23×	17.02×
Dividend yield	0.2%	0.1%	0.2%	0.0%	0.1%	0.1%	0.1%	0.1%
Payout ratio	9.7%	12.5%	7.0%	1.8%	6.4%	5.4%	10.5%	11.6%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	16.1%	14.5%	21.8%	14.4%	9.5%	14.9%	10.7%	10.8%
Return on invested capital	11.0%	10.3%	17.6%	11.7%	7.6%	11.8%	9.6%	8.1%
Return on assets	11.5%	10.4%	17.3%	10.8%	7.1%	11.0%	8.3%	8.1%
Free cash flow yield	0.9%	0.4%	0.9%	0.9%	-0.7%	0.6%	0.3%	-0.0%
Earnings yield	1.7%	1.2%	2.1%	1.5%	1.0%	1.2%	0.7%	0.6%
Enterprise value	₹155.6B	₹173.4B	₹125.6B	₹92B	₹80.2B	₹78B	₹77.7B	₹79.7B
Net debt / EBITDA	-0.04×	0.03×	0.38×	0.65×	1.06×	0.55×	0.5×	0.47×
Cash conversion cycle (days)	22	22	33	22	30	21	30	25