BKV Industries Limited (BKV.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

-89.1%

₹0.92

vs ₹8.40 price

Levered DCF

₹0.61

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

—

Rating

C-

Overall 1 / 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	-144.67×	4,161.29×	107.5×	61.36×	79×	24.38×	-36.24×	-18.27×
P/B	2.89×	4×	4.39×	3.1×	3.27×	1.25×	1.01×	1.12×
P/S	15.48×	22.5×	24.65×	16.65×	19.04×	7.95×	10.43×	12.84×
EV / EBITDA	-104.45×	2,778.71×	104.13×	58.91×	76.86×	21.75×	-64.17×	-20.54×
Gross margin	100.0%	100.0%	100.0%	99.9%	99.9%	99.9%	99.6%	99.9%
Operating margin	-14.9%	-3.6%	20.1%	25.5%	23.0%	32.6%	-31.0%	-71.4%
Net margin	-10.7%	0.5%	22.9%	27.1%	24.1%	33.1%	-28.8%	-70.3%
Current ratio	2.25×	2.02×	2.2×	1.88×	0.71×	0.55×	0.24×	0.16×
Debt / equity	0×	0×	0×	0×	0.01×	0.02×	0.11×	0.07×
Interest coverage	0×	0×	0×	0×	0×	14.06×	-3.46×	-59.01×
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	-2.0%	0.1%	4.1%	5.0%	4.1%	5.2%	-2.8%	-6.1%
Return on invested capital	-2.6%	-0.6%	3.6%	4.6%	3.8%	4.9%	-2.6%	-5.6%
Return on assets	-1.8%	0.1%	3.9%	4.7%	3.9%	4.7%	-2.3%	-5.3%
Free cash flow yield	-0.0%	0.0%	0.8%	1.8%	-0.4%	7.8%	-2.7%	-5.2%
Earnings yield	-0.7%	0.0%	0.9%	1.6%	1.3%	4.2%	-2.8%	-5.5%
Enterprise value	₹119.2M	₹175.1M	₹192.6M	₹130.5M	₹133.8M	₹48.7M	₹40.2M	₹44.6M
Net debt / EBITDA	3.7×	-67.48×	-2.09×	-0.97×	0.13×	-0.12×	-5.72×	-1.23×
Cash conversion cycle (days)	14	15	-91	-365	-91	-64,357	-3,141	-99,426