Captain Pipes Limited (CAPPIPES.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

+24.5%

₹9.76

vs ₹7.84 price

Levered DCF

₹11.50

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

—

Rating

B-

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	15.82×	25.07×	62.59×	146.92×	7.44×	30.03×	19.48×	44.44×
P/B	2.16×	4.98×	9.77×	13.2×	2.39×	0.91×	0.85×	1.48×
P/S	1.42×	2.85×	3.26×	3.12×	0.46×	0.21×	0.16×	0.23×
EV / EBITDA	11.19×	28.38×	33.41×	61.7×	5.35×	4.9×	3.94×	6.25×
Gross margin	20.5%	22.0%	20.0%	8.1%	7.4%	13.5%	7.9%	10.5%
Operating margin	8.1%	9.4%	8.7%	3.5%	2.2%	3.8%	3.6%	10.6%
Net margin	9.0%	11.4%	5.2%	2.1%	6.2%	0.7%	0.8%	0.5%
Current ratio	1.24×	2.31×	1.69×	2.21×	1.58×	1.15×	1.07×	0.99×
Debt / equity	0.61×	0.36×	0.23×	0.13×	0.24×	0.45×	0.35×	0.59×
Interest coverage	2.47×	5×	5.3×	3.46×	2.1×	1.29×	1.13×	3.55×
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	13.7%	19.9%	15.6%	8.9%	32.3%	3.0%	4.4%	3.3%
Return on invested capital	6.6%	10.2%	15.0%	9.4%	7.7%	7.1%	11.6%	30.5%
Return on assets	7.5%	12.9%	9.2%	5.4%	14.7%	1.1%	1.4%	0.9%
Free cash flow yield	-9.0%	-5.9%	-0.0%	0.8%	-16.0%	14.4%	45.6%	20.4%
Earnings yield	6.3%	4.0%	1.6%	0.7%	13.5%	3.3%	5.1%	2.3%
Enterprise value	₹1.4B	₹2.4B	₹2.6B	₹2.7B	₹417.9M	₹124M	₹104.5M	₹172.8M
Net debt / EBITDA	2.46×	1.9×	0.76×	-0.01×	0.48×	1.61×	1.12×	1.74×
Cash conversion cycle (days)	104	94	75	45	41	31	21	24