Concord Biotech Limited (CONCORDBIO.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

-74.8%

₹312.85

vs ₹1,240.20 price

Levered DCF

₹187.22

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

30.82

Safe zone

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
P/E	41.1×	46.82×	50.53×	41.08×	56.39×	42×	58.34×
P/B	5.32×	9.6×	10.2×	7.65×	8.94×	9.87×	12.81×
P/S	10.16×	14.5×	15.31×	11.56×	13.83×	15.99×	19.25×
EV / EBITDA	25.54×	33.82×	35.34×	27.95×	35.56×	30.15×	45.85×
Gross margin	41.9%	64.0%	65.6%	77.5%	75.9%	81.0%	73.0%
Operating margin	27.8%	50.2%	51.3%	60.7%	58.4%	69.7%	60.9%
Net margin	24.7%	31.0%	30.3%	28.1%	24.5%	38.1%	33.0%
Current ratio	7.39×	6.17×	6.3×	3.79×	4.08×	5.74×	0.4×
Debt / equity	0×	0×	0.01×	0.02×	0.06×	0.09×	0.07×
Interest coverage	1,034.4×	577.89×	166.74×	56.71×	67.85×	475.4×	267.18×
Dividend yield	1.0%	0.5%	0.5%	0.5%	0.7%	0.1%	0.8%
Payout ratio	42.9%	24.6%	23.2%	22.3%	40.3%	2.4%	47.6%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Return on equity	12.9%	20.5%	20.2%	18.6%	15.9%	23.5%	22.0%
Return on invested capital	10.7%	24.4%	24.9%	28.7%	25.8%	29.1%	-442.4%
Return on assets	11.7%	18.3%	18.1%	15.9%	13.3%	19.9%	18.0%
Free cash flow yield	1.6%	0.8%	1.2%	1.0%	0.5%	-0.4%	-0.0%
Earnings yield	2.4%	2.1%	2.0%	2.4%	1.8%	2.4%	1.7%
Enterprise value	₹107.1B	₹174B	₹155.6B	₹98.9B	₹99.3B	₹99.5B	₹98.7B
Net debt / EBITDA	-0.03×	0×	-0.01×	0.08×	0.22×	0.26×	0.03×
Cash conversion cycle (days)	293	266	251	359	371	461	246