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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
-1772.0%
-₹550.93
vs ₹32.95 price
Levered DCF
-₹903.88
After debt service
Piotroski score
2 / 9
Weak
Altman Z-score
4.59
Safe zone
Rating
D+
Overall 1 / 5
Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E19.01×16.13×22.34×28.17×22.5×24.29×2.91×16.84×
P/B0.5×0.53×0.66×0.62×0.63×0.65×0.58×0.98×
P/S0.08×0.07×0.12×0.09×0.12×0.3×0.14×0.22×
EV / EBITDA11.12×8.31×13.06×14.21×16.01×16.06×2.77×10.91×
Gross margin2.1%3.4%2.8%0.7%1.8%23.2%0.1%-0.3%
Operating margin0.8%0.8%0.9%0.2%0.5%-0.1%-2.0%-0.9%
Net margin0.4%0.4%0.5%0.3%0.6%1.2%4.9%1.3%
Current ratio2.5×2.39×2.14×2.41×2.83×2.15×1.04×2.51×
Debt / equity0.38×0.38×0.38×0.19×0.21×0.05×0.01×0.06×
Interest coverage1.62×2.69×2.63×1.35×2.38×-1.14×-28.6×-2.9×
Dividend yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Payout ratio0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity2.6%3.3%2.9%2.2%2.8%2.7%19.9%5.6%
Return on invested capital2.7%3.5%2.6%0.8%1.6%-0.2%-7.7%-3.1%
Return on assets1.6%2.1%1.8%1.4%2.1%1.7%8.4%4.2%
Free cash flow yield-77.0%67.9%-25.4%-25.5%-109.7%-101.2%175.2%-6.1%
Earnings yield5.3%6.2%4.5%3.5%4.5%4.1%34.3%5.7%
Enterprise value₹714.2M₹592.4M₹819.4M₹621.2M₹625.7M₹506.4M₹354.2M₹500.3M
Net debt / EBITDA3.35×2.21×4.78×3.34×3.84×0.98×0.04×0.54×
Cash conversion cycle (days)2425543844403028