Choksi Asia Limited (CHOKSI.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

-1881.5%

-₹3,637.89

vs ₹204.20 price

Levered DCF

-₹1,572.50

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

15.2

Safe zone

Rating

C-

Overall 1 / 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	12.92×	12.66×	-50.64×	-35.25×	-36.02×	4.44×	-6.37×	7.97×
P/B	1.64×	0.73×	1.54×	1.08×	0.95×	0.49×	0.23×	0.42×
P/S	1.4×	0.73×	17.17×	23.33×	6.16×	0.74×	0.22×	0.39×
EV / EBITDA	9.46×	4.02×	-12.13×	-9.95×	-15.02×	1.59×	-111.73×	-7.1×
Gross margin	17.9%	17.7%	-23.3%	31.4%	29.7%	15.8%	8.6%	21.8%
Operating margin	13.2%	9.8%	-46.7%	-223.2%	-39.1%	-14.6%	-1.8%	1.3%
Net margin	10.8%	8.4%	-33.9%	-66.1%	-17.2%	16.8%	-3.5%	4.9%
Current ratio	6.67×	4.61×	7.81×	7.9×	8.42×	5.1×	1.37×	1.36×
Debt / equity	0.05×	0.13×	0.25×	0×	0×	0×	0×	0×
Interest coverage	15.37×	7.62×	0×	0×	0×	0×	0×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	6.4%	0.0%	5.5%	4.3%
Payout ratio	0.0%	0.0%	0.0%	0.0%	-230.5%	0.0%	-35.1%	34.2%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	12.7%	8.4%	-3.0%	-3.1%	-2.6%	10.9%	-3.6%	5.2%
Return on invested capital	10.4%	5.6%	-1.6%	-9.6%	-4.9%	-6.3%	-1.7%	1.2%
Return on assets	11.2%	6.6%	-2.7%	-2.6%	-2.3%	9.0%	-1.6%	2.3%
Free cash flow yield	-0.2%	-13.8%	3.0%	-15.0%	-3.7%	-105.7%	-71.9%	34.5%
Earnings yield	7.7%	11.5%	-2.0%	-2.8%	-2.8%	22.5%	-15.7%	12.6%
Enterprise value	₹642.6M	₹216.4M	₹224.2M	₹143.4M	₹119.8M	₹15.1M	-₹42.8M	-₹37.5M
Net debt / EBITDA	-0.68×	-0.97×	0.39×	1.69×	4×	-7.33×	-203.89×	-19.97×
Cash conversion cycle (days)	140	149	3	2,104	135	22	-251	-243