Cochin Minerals and Rutile Limited (COCHINM.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

+39.8%

₹375.46

vs ₹268.60 price

Levered DCF

₹199.63

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

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	12.63×	8.71×	25.83×	3.78×	13.24×	10.97×	12.71×	27.75×
P/B	0.92×	1.24×	1.5×	1.46×	0.9×	1.04×	0.98×	2.07×
P/S	0.55×	0.64×	0.74×	0.48×	0.28×	0.37×	0.29×	0.68×
EV / EBITDA	7.17×	6.13×	5.59×	2.7×	8.67×	4.78×	3.09×	10.24×
Gross margin	38.1%	52.4%	27.8%	49.3%	42.9%	30.5%	28.9%	26.0%
Operating margin	5.3%	43.3%	13.6%	18.0%	3.4%	8.5%	8.7%	7.9%
Net margin	4.4%	7.4%	2.9%	12.7%	2.1%	3.4%	2.3%	2.4%
Current ratio	2.91×	2.35×	2.37×	4.83×	1.62×	2.6×	1.39×	1.18×
Debt / equity	0.04×	0.07×	0.04×	0.03×	0×	0.1×	0×	0.52×
Interest coverage	78.73×	680.45×	48.82×	41.58×	11.19×	11.18×	7.3×	2.98×
Dividend yield	4.0%	3.1%	2.8%	0.6%	0.0%	0.0%	2.5%	0.0%
Payout ratio	50.1%	26.6%	72.9%	2.1%	0.0%	0.0%	31.5%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	7.3%	14.2%	5.8%	38.6%	6.8%	9.5%	7.7%	7.5%
Return on invested capital	5.5%	47.3%	5.7%	39.5%	8.7%	9.7%	8.7%	7.6%
Return on assets	5.0%	8.9%	3.6%	30.8%	3.5%	7.0%	3.9%	3.5%
Free cash flow yield	17.0%	-0.8%	2.0%	-2.0%	9.2%	-11.1%	46.3%	8.2%
Earnings yield	7.9%	11.5%	3.9%	26.4%	7.6%	9.1%	7.9%	3.6%
Enterprise value	₹1.2B	₹1.9B	₹2.3B	₹2.2B	₹820.7M	₹964.9M	₹725.1M	₹1.9B
Net debt / EBITDA	-2.24×	-0.55×	0.14×	0.06×	-0.01×	0.37×	-0.15×	1.86×
Cash conversion cycle (days)	173	239	138	73	-5	70	15	104