Croissance Ltd. (CROISSANCE.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

+24.5%

₹1.20

vs ₹0.96 price

Levered DCF

₹0.08

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.08

Distress zone

Rating

D+

Overall 1 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	242×	5,180×	358×	58.12×	216.15×	1,383.33×	813.73×
P/B	1.56×	2.24×	3.12×	3.66×	3.91×	4.39×	3.99×
P/S	20.3×	168.09×	37.01×	10.93×	142.95×	545.59×	135.4×
EV / EBITDA	180.08×	1,478.68×	259.1×	40.68×	149.01×	1,030.53×	612.93×
Gross margin	10.1%	49.2%	40.3%	25.3%	80.4%	86.4%	77.6%
Operating margin	-21.2%	-47.3%	12.7%	22.6%	27.9%	53.6%	22.5%
Net margin	8.4%	3.0%	10.3%	18.8%	66.3%	39.4%	16.6%
Current ratio	1.93×	0.77×	1.5×	1.45×	2.17×	3.87×	3.08×
Debt / equity	0.12×	0×	0×	0.06×	0.07×	0.06×	0×
Interest coverage	-47.74×	-27.5×	0×	0×	23.12×	159.13×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	0.6%	0.0%	0.9%	6.3%	1.8%	0.3%	0.5%
Return on invested capital	-1.1%	-0.2%	0.8%	4.9%	0.5%	0.3%	0.5%
Return on assets	0.3%	0.0%	0.7%	4.6%	1.6%	0.3%	0.5%
Free cash flow yield	-3.7%	10.0%	4.5%	-0.2%	2.6%	-0.9%	-0.0%
Earnings yield	0.4%	0.0%	0.3%	1.7%	0.5%	0.1%	0.1%
Enterprise value	₹132M	₹176M	₹239.4M	₹289.4M	₹289.4M	₹317.8M	₹284.5M
Net debt / EBITDA	12.03×	-0.23×	-6.48×	0.69×	2.52×	13.3×	-0.01×
Cash conversion cycle (days)	7,176	-1,671	49	-330	-1,339	2,436	816