Dai-ichi Karkaria Limited (DAICHI.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

-124.4%

-₹75.79

vs ₹311.20 price

Levered DCF

-₹155.61

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

4.32

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	-224.95×	23.58×	27.36×	13.46×	-14.88×	4.43×	-5.68×	-12.77×
P/B	0.9×	1.13×	2.1×	1.59×	1.79×	1.32×	1.09×	1.13×
P/S	1.03×	1.17×	2.91×	1.49×	2.25×	2.33×	1.22×	1.72×
EV / EBITDA	51.03×	10.59×	12.81×	9.28×	-28.87×	3.17×	-45.38×	-28.91×
Gross margin	11.6%	35.8%	39.3%	34.1%	21.2%	23.3%	31.9%	-7.7%
Operating margin	-4.1%	2.4%	24.1%	4.8%	-19.0%	-22.9%	-13.2%	-18.2%
Net margin	-0.5%	5.0%	10.6%	11.1%	-15.1%	52.7%	-21.4%	-13.5%
Current ratio	1.79×	1.69×	1.37×	1.19×	1.18×	1.4×	0.92×	1.13×
Debt / equity	0.07×	0.07×	0.1×	0.22×	0.14×	0.12×	0.91×	0.73×
Interest coverage	-7.02×	2.36×	10.3×	2.85×	-15.21×	-2.4×	-1.38×	-2.34×
Dividend yield	1.6%	0.7%	0.8%	0.0%	0.8%	0.0%	0.0%	1.4%
Payout ratio	-352.7%	16.5%	21.4%	0.0%	-12.4%	0.0%	0.0%	-17.8%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-0.4%	4.8%	7.7%	11.8%	-12.0%	29.7%	-19.2%	-8.8%
Return on invested capital	-3.3%	1.7%	11.6%	3.5%	-12.8%	-10.0%	-6.1%	-3.5%
Return on assets	-0.3%	3.9%	6.3%	8.1%	-8.4%	21.2%	-8.5%	-4.5%
Free cash flow yield	-1.2%	6.2%	0.5%	-4.8%	-5.3%	-9.9%	-4.7%	-19.9%
Earnings yield	-0.4%	4.2%	3.7%	7.4%	-6.7%	22.6%	-17.6%	-7.8%
Enterprise value	₹1.8B	₹2.2B	₹3.9B	₹3B	₹2.9B	₹2.3B	₹2.4B	₹2.6B
Net debt / EBITDA	2.91×	0.19×	0.41×	1×	-1.99×	0.12×	-20.52×	-11.01×
Cash conversion cycle (days)	76	47	69	29	30	52	33	50