CSL Finance Limited (CSLFINANCE.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

+695.7%

₹1,754.41

vs ₹220.50 price

Levered DCF

-₹4,066.19

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

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	FY2019
P/E	5.82×	8.34×	16.18×	8.8×	12.87×	15.26×	18.67×	17.2×
P/B	0.81×	1.11×	2.16×	1.11×	1.34×	1.62×	1.8×	1.94×
P/S	1.98×	2.86×	6.3×	3.51×	5.96×	6.84×	6.93×	7.12×
EV / EBITDA	11.21×	12.48×	16.93×	12.29×	13.67×	12.13×	15.45×	15.15×
Gross margin	65.1%	58.2%	62.6%	64.8%	73.5%	78.5%	70.1%	68.6%
Operating margin	48.9%	49.2%	53.5%	54.7%	63.8%	71.7%	62.0%	59.8%
Net margin	34.1%	34.3%	38.9%	39.8%	46.3%	44.8%	37.1%	41.4%
Current ratio	0.21×	3.16×	4.44×	1.55×	2.21×	3.09×	1.41×	1.05×
Debt / equity	1.38×	1.29×	1.06×	1.13×	0.64×	0.33×	0.42×	0.59×
Interest coverage	0×	411.96×	467.6×	354.26×	269.47×	239.06×	173.46×	208.03×
Dividend yield	1.4%	0.9%	0.5%	1.3%	0.4%	0.4%	0.3%	0.3%
Payout ratio	7.9%	7.9%	8.8%	11.1%	5.4%	5.4%	6.5%	4.4%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	13.9%	13.3%	13.3%	12.6%	10.4%	10.6%	9.7%	11.3%
Return on invested capital	6.4%	6.2%	6.6%	14.7%	6.5%	9.0%	8.0%	7.2%
Return on assets	5.8%	5.8%	6.4%	5.9%	6.3%	7.9%	6.8%	7.1%
Free cash flow yield	19.3%	-28.9%	-12.6%	-42.0%	-37.6%	5.2%	7.8%	-4.0%
Earnings yield	17.2%	12.0%	6.2%	11.4%	7.8%	6.6%	5.4%	5.8%
Enterprise value	₹12.8B	₹12.3B	₹14.8B	₹7.7B	₹6.2B	₹4.9B	₹5.1B	₹5.3B
Net debt / EBITDA	6.82×	6.4×	5.17×	5.89×	4.23×	1.66×	2.62×	3.38×
Cash conversion cycle (days)	-8	1,978	-13	2	1	1	3	546