Dilip Buildcon Limited (DBL.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

-1815.7%

-₹6,544.54

vs ₹381.45 price

Levered DCF

-₹5,763.64

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

—

Rating

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	4.5×	10.92×	34.56×	2,643.19×	-6.39×	29.76×	8.07×	15.73×
P/B	0.86×	1.17×	1.53×	0.62×	0.99×	2.33×	0.92×	3.07×
P/S	0.65×	0.52×	0.56×	0.24×	0.38×	0.84×	0.31×	0.93×
EV / EBITDA	7.82×	6.65×	8.14×	7.63×	16.11×	8.18×	5.53×	9.55×
Gross margin	20.3%	24.4%	17.2%	10.6%	9.9%	19.9%	21.6%	22.1%
Operating margin	16.3%	22.3%	14.0%	7.3%	2.8%	12.5%	12.5%	13.6%
Net margin	14.5%	5.7%	1.6%	0.0%	-6.0%	2.8%	3.9%	6.0%
Current ratio	1.56×	1.48×	1.32×	1.22×	1.45×	1.21×	1.18×	1.15×
Debt / equity	1.18×	1.88×	1.66×	1.67×	2.48×	3.1×	2.91×	2.64×
Interest coverage	1.05×	2.02×	1.66×	0.84×	0.24×	1.01×	1.01×	1.45×
Dividend yield	0.3%	0.2%	0.0%	0.1%	0.4%	0.2%	0.6%	0.2%
Payout ratio	1.2%	2.3%	0.8%	156.4%	-2.7%	5.1%	4.6%	3.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	19.1%	12.7%	4.4%	0.0%	-15.5%	7.8%	11.4%	19.7%
Return on invested capital	9.2%	13.8%	5.7%	-0.1%	1.5%	5.7%	6.1%	10.7%
Return on assets	6.9%	3.3%	1.2%	0.0%	-3.4%	1.5%	2.1%	3.8%
Free cash flow yield	-56.4%	-69.7%	-66.9%	-43.4%	-67.3%	-40.7%	-174.7%	-49.4%
Earnings yield	22.2%	10.8%	2.9%	0.0%	-15.6%	3.4%	12.4%	6.4%
Enterprise value	₹138.1B	₹143B	₹134.8B	₹90.2B	₹121.3B	₹180.2B	₹112.3B	₹157.2B
Net debt / EBITDA	4.51×	3.89×	4.09×	5.54×	11.45×	4.58×	4.11×	4.32×
Cash conversion cycle (days)	114	76	120	110	121	134	118	39