Bharat Parenterals Limited (BPLPHARMA.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

-722.6%

-₹11,889.85

vs ₹1,909.60 price

Levered DCF

-₹12,585.41

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

3.1

Safe zone

Rating

Overall 2 / 5

Ratios by fiscal year

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

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-22.72×	-54.96×	46.26×	11.8×	9.19×	9.42×	3.36×	6.04×
P/B	0.58×	2.1×	3.4×	1.06×	1.17×	1.33×	0.69×	1.37×
P/S	0.54×	2.04×	2.61×	0.89×	0.91×	0.94×	0.36×	0.58×
EV / EBITDA	12.63×	61.03×	30.88×	9.13×	5.82×	7.34×	2.19×	3.1×
Gross margin	15.2%	45.5%	34.5%	19.7%	20.6%	19.7%	20.9%	21.7%
Operating margin	-5.3%	-9.6%	6.7%	7.0%	10.7%	9.8%	10.0%	10.6%
Net margin	-2.4%	-3.7%	5.6%	7.5%	9.9%	10.0%	10.6%	9.7%
Current ratio	1.97×	1.62×	1.37×	1.54×	3.46×	3.39×	2×	1.95×
Debt / equity	0.45×	0.54×	0.8×	0.27×	0.11×	0.09×	0.01×	0.05×
Interest coverage	-1.47×	-2.52×	4.23×	7.01×	17.44×	26.16×	26.27×	26.67×
Dividend yield	0.4%	0.1%	0.1%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	-8.4%	-4.6%	3.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-2.5%	-3.8%	7.4%	9.0%	12.7%	14.2%	20.4%	22.6%
Return on invested capital	-3.8%	-6.1%	2.4%	3.8%	8.9%	9.4%	13.7%	14.3%
Return on assets	-1.3%	-1.9%	2.9%	4.7%	9.3%	10.2%	12.9%	13.4%
Free cash flow yield	-5.6%	-8.1%	-16.2%	-36.5%	-21.0%	12.9%	-0.5%	8.6%
Earnings yield	-4.4%	-1.8%	2.2%	8.5%	10.9%	10.6%	29.7%	16.6%
Enterprise value	₹3.2B	₹8.7B	₹8.2B	₹2.3B	₹2.1B	₹2B	₹721.6M	₹1.2B
Net debt / EBITDA	5.29×	12.54×	5.6×	1.59×	0.37×	0.36×	-0.28×	-0.19×
Cash conversion cycle (days)	185	180	210	161	120	113	108	92