Cosyn Limited (COSYN.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

+80.2%

₹39.09

vs ₹21.70 price

Levered DCF

-₹8.24

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

—

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	129.33×	109.6×	775.91×	53.67×	-105.25×	-37.31×	6.35×	16.03×
P/B	0.53×	0.64×	1×	0.49×	0.59×	0.56×	0.34×	1.11×
P/S	1.33×	1.19×	1.76×	0.88×	1.17×	0.76×	0.31×	0.8×
EV / EBITDA	8.81×	12.91×	9.11×	7.42×	8.47×	5.73×	1.58×	5×
Gross margin	24.6%	21.0%	43.1%	36.1%	21.6%	9.1%	14.2%	34.5%
Operating margin	3.3%	-9.3%	14.1%	2.5%	-20.1%	19.2%	7.2%	10.7%
Net margin	1.0%	1.1%	0.2%	1.6%	-1.1%	-2.0%	4.9%	5.0%
Current ratio	3.2×	2.75×	2.87×	3.22×	3.26×	3.28×	2.24×	2.33×
Debt / equity	0.14×	0×	0.07×	0.02×	0.02×	0.01×	0.05×	0.13×
Interest coverage	0.72×	-3.63×	9.71×	1.01×	-37.02×	21.1×	4.21×	7.33×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	4.8%	2.9%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	30.8%	45.9%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	0.4%	0.6%	0.1%	0.9%	-0.6%	-1.5%	5.4%	6.9%
Return on invested capital	0.7%	-1.7%	1.4%	0.8%	-9.8%	13.8%	5.4%	8.4%
Return on assets	0.3%	0.4%	0.1%	0.7%	-0.4%	-1.2%	3.5%	4.6%
Free cash flow yield	10.1%	7.2%	-9.9%	4.5%	-13.3%	-6.6%	32.5%	5.6%
Earnings yield	0.8%	0.9%	0.1%	1.9%	-1.0%	-2.7%	15.7%	6.2%
Enterprise value	₹132.1M	₹175.4M	₹284.6M	₹132.6M	₹162.3M	₹148.9M	₹86.7M	₹340.5M
Net debt / EBITDA	-0.83×	-0.09×	0.37×	-0.01×	0.23×	-0.09×	-0.12×	0.36×
Cash conversion cycle (days)	593	503	485	377	409	246	214	162