Bhartiya International Ltd. (BIL.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

-872.4%

-₹8,305.39

vs ₹1,075.30 price

Levered DCF

₹2,528.12

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

B-

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	64.83×	36.02×	1,733.89×	3.31×	-18.49×	-33.72×	4.19×	16.6×
P/B	1.79×	1.26×	0.98×	0.54×	0.95×	0.61×	0.26×	0.83×
P/S	0.64×	0.55×	0.5×	0.26×	0.46×	0.39×	0.13×	0.46×
EV / EBITDA	12.41×	10.73×	12.18×	7.89×	10.34×	15.35×	7.62×	10.96×
Gross margin	31.8%	40.8%	26.5%	27.4%	21.7%	21.0%	21.0%	19.7%
Operating margin	6.9%	6.3%	8.8%	10.5%	2.6%	5.9%	3.6%	2.6%
Net margin	1.0%	1.5%	0.0%	7.8%	-2.5%	-1.2%	3.1%	2.8%
Current ratio	1.54×	1.49×	1.45×	1.63×	1.67×	1.56×	1.38×	1.41×
Debt / equity	1.11×	1.07×	1.33×	1.3×	1.48×	1.29×	1.29×	0.97×
Interest coverage	1.88×	1.42×	1.58×	2.29×	0.62×	1.14×	1.01×	0.56×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.9%	2.0%	0.5%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	-28.8%	8.3%	9.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	2.8%	3.5%	0.1%	16.2%	-5.1%	-1.8%	6.2%	5.0%
Return on invested capital	4.1%	4.3%	0.2%	8.5%	2.1%	4.0%	2.6%	1.6%
Return on assets	1.0%	1.3%	0.0%	6.2%	-1.8%	-0.7%	2.4%	2.2%
Free cash flow yield	-3.2%	6.5%	15.3%	-4.7%	5.7%	4.5%	-19.6%	-0.7%
Earnings yield	1.5%	2.8%	0.1%	30.2%	-5.4%	-3.0%	23.8%	6.0%
Enterprise value	₹13.1B	₹10.3B	₹8.7B	₹7B	₹7.5B	₹6.3B	₹4.9B	₹6.7B
Net debt / EBITDA	4.16×	4.86×	6.85×	5.56×	6.13×	10.27×	6.22×	5.62×
Cash conversion cycle (days)	239	318	314	329	312	377	300	253