Continental Securities Limited (CSL.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

+266.1%

₹76.47

vs ₹20.89 price

Levered DCF

-₹115.47

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

33.52

Safe zone

Rating

C-

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	FY2018
P/E	20.39×	30.18×	27.52×	24.03×	18.6×	23.44×	13.36×	82.5×
P/B	1.73×	2.32×	1.78×	1.99×	1.45×	0.97×	0.58×	0.58×
P/S	11.41×	14.61×	13.21×	11.86×	9.73×	7.45×	3.94×	5.22×
EV / EBITDA	14.87×	21.58×	18.76×	16.63×	13.22×	12.5×	7.2×	20.9×
Gross margin	88.5%	87.4%	94.9%	94.5%	93.8%	92.1%	89.4%	77.3%
Operating margin	73.7%	65.9%	68.6%	68.2%	68.0%	58.2%	52.3%	21.4%
Net margin	55.6%	48.3%	48.4%	50.0%	52.6%	32.2%	30.4%	10.8%
Current ratio	33.13×	33.33×	20.33×	26.03×	26.89×	29.94×	30.24×	38.66×
Debt / equity	0.01×	0.01×	0.02×	0.01×	0.01×	0×	0×	0×
Interest coverage	0×	0×	24.01×	160.81×	255.63×	1,145.33×	0×	0×
Dividend yield	0.3%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	6.7%	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	FY2018
Return on equity	8.4%	7.7%	6.5%	8.4%	7.8%	4.2%	4.5%	1.2%
Return on invested capital	8.3%	7.5%	6.6%	8.4%	7.4%	5.5%	5.9%	1.7%
Return on assets	8.0%	7.3%	6.2%	8.0%	7.5%	4.1%	4.4%	1.2%
Free cash flow yield	-13.3%	-10.7%	-16.9%	0.2%	-0.9%	-32.8%	-5.2%	3.6%
Earnings yield	4.9%	3.3%	3.7%	4.2%	5.4%	4.3%	7.7%	2.1%
Enterprise value	₹450.3M	₹403.1M	₹209.9M	₹148.7M	₹99.5M	₹60.7M	₹23M	₹21.4M
Net debt / EBITDA	0.03×	0.09×	0.11×	0.06×	0.09×	-0.01×	-0.01×	-0.04×
Cash conversion cycle (days)	0	2,314	0	0	0	0	0	0