Calcom Vision Limited (CALCOM.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

-1164.4%

-₹830.25

vs ₹78.00 price

Levered DCF

-₹730.98

After debt service

Piotroski score

3 / 9

Weak

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	60.42×	94.27×	149.9×	28×	121.92×	44.24×	20.91×	10.21×
P/B	1.12×	1.29×	2.53×	2.49×	1.8×	0.81×	0.92×	3.12×
P/S	0.44×	0.67×	1.2×	0.99×	1.03×	0.58×	0.2×	0.59×
EV / EBITDA	11.8×	11.76×	23.71×	13.88×	22.42×	14.24×	7.61×	7.37×
Gross margin	7.6%	24.2%	21.7%	21.7%	20.4%	26.0%	28.9%	29.0%
Operating margin	3.3%	12.3%	3.5%	6.5%	3.5%	4.7%	3.7%	7.8%
Net margin	0.7%	0.7%	0.8%	3.5%	0.9%	1.3%	1.0%	5.8%
Current ratio	1.12×	1.27×	1.55×	1.49×	1.44×	1.23×	1.2×	1.3×
Debt / equity	0.75×	0.75×	0.62×	0.5×	0.32×	0.46×	1.06×	0.5×
Interest coverage	1.03×	3.39×	1.15×	3.26×	1.55×	1.61×	1.08×	3.52×
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	1.9%	1.3%	1.7%	8.9%	1.5%	1.8%	4.5%	30.5%
Return on invested capital	3.0%	8.6%	2.7%	7.5%	2.9%	3.2%	8.0%	24.7%
Return on assets	0.7%	0.6%	0.8%	4.4%	0.9%	1.0%	1.2%	10.0%
Free cash flow yield	-0.8%	-11.3%	-10.0%	-5.8%	-10.8%	-16.1%	-58.6%	-8.7%
Earnings yield	1.7%	1.0%	0.7%	3.6%	0.8%	2.3%	4.8%	9.8%
Enterprise value	₹1.5B	₹1.6B	₹2.4B	₹1.9B	₹1.2B	₹520M	₹200.2M	₹353.7M
Net debt / EBITDA	4.33×	3.95×	4.62×	2.3×	3.31×	5.05×	4.01×	0.95×
Cash conversion cycle (days)	81	127	128	87	82	83	86	57