Captain Technocast Limited (CTCL.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

-138.5%

-₹88.54

vs ₹230.00 price

Levered DCF

₹15.44

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

10.6

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	FY2019
P/E	33.93×	74.22×	26.26×	14.86×	6.32×	5.7×	4.49×	10.6×
P/B	7.55×	15.08×	4.22×	2.16×	1×	0.88×	0.62×	0.9×
P/S	3.04×	6.51×	1.57×	0.73×	0.34×	0.31×	0.23×	0.37×
EV / EBITDA	23.72×	46.92×	14.94×	8.17×	4.59×	5.06×	3.43×	4.88×
Gross margin	33.6%	50.1%	10.7%	19.5%	19.1%	17.4%	18.2%	17.3%
Operating margin	11.4%	40.8%	8.0%	7.7%	8.1%	5.9%	5.2%	5.7%
Net margin	8.9%	8.8%	6.0%	4.9%	5.5%	5.5%	5.2%	3.5%
Current ratio	1.63×	1.59×	1.49×	1.4×	1.4×	1.47×	1.53×	1.41×
Debt / equity	0.38×	0.11×	0.36×	0.48×	0.48×	0.64×	0.33×	0.44×
Interest coverage	7.64×	43.73×	4.58×	4.2×	6.36×	6.24×	4.54×	2.69×
Dividend yield	0.0%	0.0%	0.2%	0.5%	2.4%	0.0%	1.6%	1.9%
Payout ratio	0.0%	0.0%	5.3%	7.0%	14.9%	0.0%	7.0%	19.7%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	22.3%	20.3%	16.1%	14.5%	15.8%	15.5%	13.8%	8.4%
Return on invested capital	15.1%	62.7%	11.9%	11.1%	12.1%	7.2%	8.2%	7.0%
Return on assets	12.1%	13.1%	8.8%	6.6%	6.7%	6.2%	6.8%	3.9%
Free cash flow yield	-3.2%	0.7%	1.7%	5.2%	3.9%	-42.8%	14.0%	10.1%
Earnings yield	2.9%	1.3%	3.8%	6.7%	15.8%	17.5%	22.3%	9.4%
Enterprise value	₹4.1B	₹6.1B	₹1.1B	₹522.6M	₹254.8M	₹228.9M	₹118.1M	₹144.4M
Net debt / EBITDA	1.08×	0.32×	1.12×	1.39×	1.46×	2.13×	1.15×	1.52×
Cash conversion cycle (days)	54	48	83	101	101	94	77	105