California Software Company Limited (CALSOFT.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

-8.0%

₹26.21

vs ₹28.50 price

Levered DCF

-₹33.86

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

B-

Overall 3 / 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	7.13×	92.42×	35.83×	48.21×	12.1×	38×	90.6×	-73.59×
P/B	1.84×	2.8×	1.86×	0.9×	1.95×	1.19×	0.85×	2.32×
P/S	3.86×	12.59×	5.31×	3.76×	2.96×	5.25×	4.77×	10.49×
EV / EBITDA	4.8×	43.01×	19.8×	13.99×	4.99×	13.41×	13.44×	23.71×
Gross margin	80.4%	44.8%	57.2%	63.6%	87.6%	72.4%	70.9%	84.7%
Operating margin	72.9%	18.4%	51.3%	10.8%	58.2%	27.4%	35.5%	45.8%
Net margin	54.1%	13.2%	14.6%	8.0%	41.9%	13.4%	5.4%	-14.3%
Current ratio	5.71×	8.74×	1.96×	1.59×	1.59×	1.18×	5.06×	8.56×
Debt / equity	0.04×	0.03×	0.68×	0.55×	0.3×	0.27×	0.18×	0.08×
Interest coverage	0×	164.64×	2,439.67×	423.91×	51,712.53×	613.05×	1,875.45×	5,510.37×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.1%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	5.7%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	25.7%	2.9%	5.1%	1.9%	27.6%	3.0%	1.0%	-3.2%
Return on invested capital	24.8%	2.9%	7.9%	1.2%	23.5%	3.4%	4.0%	9.3%
Return on assets	21.4%	2.6%	2.8%	0.9%	17.4%	1.3%	0.8%	-2.8%
Free cash flow yield	4.2%	0.0%	-8.6%	-14.1%	-9.9%	-7.3%	-10.4%	-1.5%
Earnings yield	14.0%	1.0%	2.7%	2.1%	14.1%	2.5%	1.1%	-1.4%
Enterprise value	₹714M	₹673.2M	₹310M	₹167.2M	₹370.4M	₹93.1M	₹67.2M	₹157.5M
Net debt / EBITDA	-0.3×	-0.8×	5.28×	5.29×	0.65×	2.42×	2.24×	0.8×
Cash conversion cycle (days)	295	1,176	1,174	2,135	402	-4,429	644	134