Chemfab Alkalis Limited (CHEMFAB.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

-159.1%

-₹178.68

vs ₹302.45 price

Levered DCF

-₹444.28

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

1.82

Grey zone

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	-123.07×	-152.99×	36.3×	4.96×	12.3×	-21.76×	5.51×	11.96×
P/B	1.12×	2.79×	2.47×	0.89×	1.19×	0.66×	0.51×	0.8×
P/S	1.36×	3.18×	2.92×	0.97×	1.3×	0.98×	0.69×	1.04×
EV / EBITDA	15.22×	25.68×	15.39×	2.85×	5.76×	8.34×	3.31×	5.14×
Gross margin	13.2%	34.7%	17.5%	47.3%	35.9%	33.5%	45.1%	49.8%
Operating margin	-0.4%	25.0%	10.1%	26.7%	13.5%	5.2%	14.8%	24.0%
Net margin	-1.1%	-2.1%	8.0%	19.5%	10.6%	-4.5%	12.5%	8.7%
Current ratio	1.12×	1.65×	1.09×	2.71×	1.82×	1.83×	1.04×	1.26×
Debt / equity	0.33×	0.22×	0.05×	0.01×	0.03×	0.12×	0.16×	0.14×
Interest coverage	-0.16×	16.99×	18.89×	170.89×	32.53×	3.42×	8.51×	23.27×
Dividend yield	0.4%	0.2%	0.2%	0.6%	0.0%	1.0%	1.5%	1.0%
Payout ratio	-52.5%	-25.0%	6.7%	2.7%	0.1%	-21.2%	8.1%	12.5%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-0.9%	-1.8%	6.8%	17.9%	9.6%	-3.0%	9.2%	6.7%
Return on invested capital	-0.2%	17.9%	5.4%	17.4%	8.7%	-12.6%	9.0%	9.6%
Return on assets	-0.6%	-1.3%	5.3%	15.7%	8.2%	-2.4%	7.3%	5.2%
Free cash flow yield	-14.3%	3.8%	-6.3%	10.9%	9.8%	21.5%	-5.7%	-6.0%
Earnings yield	-0.8%	-0.7%	2.8%	20.2%	8.1%	-4.6%	18.1%	8.4%
Enterprise value	₹5.5B	₹11.4B	₹9.7B	₹3.2B	₹3.6B	₹2.1B	₹1.8B	₹2.3B
Net debt / EBITDA	3.48×	1.79×	0.28×	0.01×	0.1×	1.26×	0.77×	0.73×
Cash conversion cycle (days)	21	14	8	2	12	12	9	25