Decipher Labs Ltd. (DECIPHER.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

-90.6%

₹0.51

vs ₹5.41 price

Levered DCF

-₹3.32

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

Overall 2 / 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	-1.71×	-2.18×	-9.55×	-6.24×	1.47×	11.94×	15.23×	32.55×
P/B	0.26×	0.48×	0.73×	0.72×	0.69×	1.22×	1.33×	5.26×
P/S	0.38×	0.49×	0.44×	0.37×	0.26×	0.3×	0.7×	1.65×
EV / EBITDA	-1.49×	-1.41×	-24.58×	3.56×	0.83×	6.2×	10.34×	29.15×
Gross margin	95.4%	97.0%	91.4%	98.9%	99.8%	98.0%	97.3%	26.5%
Operating margin	-27.8%	-34.1%	14.8%	-4.1%	19.2%	12.5%	8.8%	6.0%
Net margin	-21.9%	-22.5%	-4.6%	-5.9%	17.4%	2.5%	4.6%	5.0%
Current ratio	5.22×	7.24×	2.1×	4.05×	3.44×	1.3×	1.06×	1.66×
Debt / equity	0.02×	0.01×	0×	0.04×	0.43×	1.2×	0.9×	0.08×
Interest coverage	0×	0×	24.7×	-4.33×	26.26×	6.12×	2.92×	77.65×
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	-14.9%	-22.2%	-7.7%	-11.6%	47.1%	10.2%	8.8%	16.0%
Return on invested capital	-15.4%	-26.5%	24.6%	-4.9%	33.4%	15.1%	6.6%	16.2%
Return on assets	-12.7%	-19.7%	-5.0%	-9.5%	27.1%	3.6%	3.1%	6.4%
Free cash flow yield	-44.0%	-89.2%	30.0%	-14.0%	48.1%	9.1%	-92.0%	1.7%
Earnings yield	-58.4%	-45.9%	-10.5%	-16.0%	67.9%	8.4%	6.6%	3.1%
Enterprise value	₹50.4M	₹85.1M	₹66.9M	₹102.7M	₹116.8M	₹261.8M	₹265.7M	₹131.8M
Net debt / EBITDA	0.07×	0.43×	34.24×	-2.24×	-0.36×	2.23×	3.82×	-0.22×
Cash conversion cycle (days)	-610	-560	-502	-769	-5,255	-940	-3,609	-17