Butterfly Gandhimathi Appliances Limited (BUTTERFLY.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

+88.8%

₹1,084.97

vs ₹574.55 price

Levered DCF

₹962.64

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

4.94

Safe zone

Rating

Overall 4 / 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	23.15×	33.41×	192.2×	41.92×	154×	27.48×	42.94×	37.26×
P/B	2.84×	3.34×	4.86×	7.58×	10.57×	4.43×	0.89×	1.88×
P/S	1.12×	1.26×	1.52×	2.05×	2.49×	1.15×	0.25×	0.55×
EV / EBITDA	12.07×	16.63×	50.49×	20.78×	50.15×	12.18×	8.09×	10.64×
Gross margin	23.6%	37.4%	35.3%	24.3%	36.5%	41.5%	42.1%	39.7%
Operating margin	6.0%	25.3%	13.6%	7.8%	3.7%	7.4%	4.2%	5.4%
Net margin	4.8%	3.8%	0.8%	4.9%	1.6%	4.2%	0.6%	1.5%
Current ratio	2.1×	2.31×	1.38×	1.64×	1.25×	1.24×	1.19×	1.24×
Debt / equity	0.02×	0.04×	0.01×	0.02×	0.23×	0.13×	0.89×	0.81×
Interest coverage	31.41×	42.2×	18.28×	11.4×	2.66×	3.69×	1.17×	1.55×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.2%	0.5%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	32.4%	14.7%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	12.3%	10.0%	2.5%	18.1%	6.9%	16.1%	2.1%	5.1%
Return on invested capital	10.9%	47.0%	48.7%	17.5%	8.1%	18.8%	7.4%	7.8%
Return on assets	8.2%	6.9%	1.4%	10.3%	3.1%	7.4%	0.8%	2.1%
Free cash flow yield	7.1%	2.2%	1.3%	5.1%	-1.6%	19.9%	2.9%	17.7%
Earnings yield	4.3%	3.0%	0.5%	2.4%	0.6%	3.6%	2.3%	2.7%
Enterprise value	₹10.5B	₹10.9B	₹13.8B	₹21.4B	₹25.4B	₹9.9B	₹3.4B	₹5.1B
Net debt / EBITDA	-0.07×	-0.03×	-1.36×	-0.27×	1.03×	-0.04×	4.03×	3.16×
Cash conversion cycle (days)	43	65	40	44	76	42	141	108