B.L. Kashyap and Sons Limited (BLKASHYAP.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

-114.0%

-₹7.41

vs ₹52.84 price

Levered DCF

₹24.47

After debt service

Piotroski score

6 / 9

Average

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	611.57×	41.39×	30.26×	31.63×	13.62×	-7.14×	-1.68×	-70.52×
P/B	1.8×	2.15×	3.2×	1.57×	1.42×	1.1×	0.23×	0.85×
P/S	0.69×	0.98×	1.28×	0.63×	0.53×	0.56×	0.13×	0.59×
EV / EBITDA	11.63×	12.9×	16.32×	11.93×	7.21×	14.09×	-96.52×	16.72×
Gross margin	8.4%	6.0%	33.3%	31.9%	29.6%	32.0%	33.4%	36.5%
Operating margin	6.5%	4.6%	13.2%	7.9%	5.3%	8.5%	3.9%	6.4%
Net margin	0.1%	2.4%	4.2%	2.0%	3.9%	-7.8%	-7.7%	-0.8%
Current ratio	1.3×	1.4×	1.37×	1.36×	1.23×	1.25×	1.11×	1×
Debt / equity	0.57×	0.6×	0.62×	0.72×	0.9×	1.37×	1.14×	1.07×
Interest coverage	2.07×	1.11×	3.37×	1.71×	1.1×	1.07×	0.46×	0.81×
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	0.3%	5.2%	10.6%	5.0%	10.4%	-15.4%	-13.7%	-1.2%
Return on invested capital	0.5%	3.0%	14.7%	10.1%	4.1%	5.7%	2.0%	2.5%
Return on assets	0.1%	1.8%	3.7%	1.7%	3.1%	-3.8%	-3.5%	-0.3%
Free cash flow yield	2.0%	-1.7%	2.8%	-0.6%	13.1%	-45.7%	-28.0%	34.8%
Earnings yield	0.2%	2.4%	3.3%	3.2%	7.3%	-14.0%	-59.3%	-1.4%
Enterprise value	₹12.2B	₹14.2B	₹18.8B	₹9.7B	₹9.5B	₹9.1B	₹6.1B	₹9.8B
Net debt / EBITDA	2.61×	2.68×	2.53×	3.32×	2.65×	7.63×	-79.85×	9.22×
Cash conversion cycle (days)	98	126	228	265	178	341	288	319