DCM Nouvelle Limited (DCMNVL.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

-679.5%

-₹967.12

vs ₹166.90 price

Levered DCF

-₹806.57

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

2.82

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	50.55×	31.99×	-117.46×	20.52×	3.55×	5.2×	10.35×	2.49×
P/B	0.56×	0.88×	1.22×	0.79×	1.42×	0.86×	0.29×	2,906.41×
P/S	0.18×	0.26×	0.36×	0.3×	0.49×	0.28×	0.08×	0.15×
EV / EBITDA	9.21×	9×	16.7×	14.86×	3.26×	5.12×	7.19×	4.1×
Gross margin	16.2%	15.7%	20.9%	4.6%	20.1%	22.9%	20.0%	9.4%
Operating margin	2.6%	2.7%	15.1%	1.1%	15.2%	6.8%	3.3%	6.0%
Net margin	0.4%	0.8%	-0.3%	1.4%	13.9%	5.5%	0.8%	5.9%
Current ratio	1.32×	1.32×	1.2×	1.57×	2.04×	1.58×	1.45×	38.91×
Debt / equity	1×	1.04×	1.18×	0.83×	0.51×	0.9×	1.17×	5,248.8×
Interest coverage	1.42×	1.12×	6.49×	1.47×	21.63×	4.53×	1.5×	2.77×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	1.1%	2.7%	-1.0%	3.9%	40.0%	16.6%	2.8%	116612.9%
Return on invested capital	0.9%	1.9%	23.1%	1.0%	21.3%	7.9%	3.6%	18.8%
Return on assets	0.5%	1.2%	-0.4%	1.9%	24.3%	7.8%	1.1%	113615.5%
Free cash flow yield	11.3%	11.2%	-23.2%	-44.6%	4.9%	13.3%	-1.0%	-13.6%
Earnings yield	2.0%	3.1%	-0.9%	4.9%	28.2%	19.2%	9.7%	40.1%
Enterprise value	₹5.1B	₹6.2B	₹7.6B	₹5.1B	₹5.9B	₹3.2B	₹2.2B	₹2.7B
Net debt / EBITDA	5.91×	4.88×	8.21×	7.54×	0.84×	2.61×	5.75×	2.64×
Cash conversion cycle (days)	140	136	139	120	147	180	181	98