Damodar Industries Limited (DAMODARIND.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

+402.0%

₹126.70

vs ₹25.24 price

Levered DCF

₹142.51

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

2.09

Grey 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	8.66×	13.59×	19.55×	113.97×	7.64×	-8.98×	-6.04×	10.93×
P/B	0.31×	0.51×	0.85×	0.79×	1.22×	0.57×	0.43×	0.83×
P/S	0.11×	0.17×	0.14×	0.13×	0.15×	0.1×	0.05×	0.12×
EV / EBITDA	6.69×	5.91×	6.38×	7.64×	5.57×	8.56×	9.65×	11.26×
Gross margin	13.4%	10.2%	18.1%	21.3%	20.8%	19.4%	17.0%	13.7%
Operating margin	3.4%	-0.2%	1.5%	2.1%	6.1%	2.8%	2.8%	3.2%
Net margin	1.2%	1.3%	0.7%	0.1%	2.0%	-1.1%	-0.9%	1.1%
Current ratio	1.41×	1.37×	1.15×	1.29×	1.55×	1.36×	1.17×	1.25×
Debt / equity	1.13×	1.31×	2.22×	2.59×	2.73×	3.42×	3.61×	3.01×
Interest coverage	0.83×	-0.05×	0.36×	0.55×	1.93×	0.53×	0.74×	1.09×
Dividend yield	0.0%	0.0%	0.0%	1.3%	0.0%	0.0%	4.8%	3.6%
Payout ratio	0.0%	0.0%	0.0%	146.2%	0.0%	0.0%	-29.0%	39.9%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	3.6%	3.8%	4.4%	0.7%	15.9%	-6.4%	-7.1%	7.6%
Return on invested capital	3.9%	-0.3%	2.3%	1.4%	8.0%	2.6%	3.0%	3.6%
Return on assets	1.6%	1.5%	1.2%	0.2%	4.1%	-1.4%	-1.4%	1.7%
Free cash flow yield	32.6%	19.7%	57.5%	47.6%	28.8%	77.5%	18.6%	-165.0%
Earnings yield	11.5%	7.4%	5.1%	0.9%	13.1%	-11.1%	-16.5%	9.1%
Enterprise value	₹2.1B	₹2.6B	₹3.7B	₹3.9B	₹4.5B	₹3.9B	₹4B	₹4.2B
Net debt / EBITDA	5.24×	4.25×	4.61×	5.86×	3.85×	7.33×	8.63×	8.82×
Cash conversion cycle (days)	125	136	93	107	80	105	84	70