Deepak Nitrite Limited (DEEPAKNTR.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

-66.7%

₹511.50

vs ₹1,537.40 price

Levered DCF

-₹102.61

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

5.5

Safe zone

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	31.88×	38.78×	36.04×	29.5×	28.69×	29.12×	8.59×	21.37×
P/B	3.01×	5.02×	6.09×	6.15×	9.17×	9.63×	3.34×	3.46×
P/S	2.25×	3.34×	3.84×	3.19×	4.52×	5.21×	1.25×	1.39×
EV / EBITDA	18.41×	23.74×	22.88×	18.83×	18.77×	18.27×	6×	11.58×
Gross margin	14.7%	22.3%	24.7%	24.8%	32.3%	41.0%	35.8%	29.6%
Operating margin	8.4%	11.2%	13.0%	14.3%	21.2%	25.4%	21.4%	13.3%
Net margin	7.1%	8.6%	10.7%	10.8%	15.7%	17.9%	14.6%	6.5%
Current ratio	2.4×	3.57×	3.62×	3.45×	3.06×	2.62×	1.54×	1.31×
Debt / equity	0.28×	0.24×	0.06×	0.02×	0.09×	0.25×	0.7×	1.11×
Interest coverage	14.21×	29.49×	65.93×	42.36×	39.49×	14.23×	7.74×	4.53×
Dividend yield	0.6%	0.4%	0.4%	0.4%	0.2%	0.0%	2.0%	0.5%
Payout ratio	18.6%	14.7%	12.6%	11.2%	7.0%	0.0%	17.3%	10.2%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	9.4%	12.9%	16.9%	20.8%	32.0%	33.1%	38.9%	16.2%
Return on invested capital	6.1%	9.6%	13.7%	19.3%	28.1%	26.8%	24.5%	9.7%
Return on assets	6.3%	9.0%	13.3%	16.6%	24.1%	21.8%	19.0%	5.9%
Free cash flow yield	-3.8%	-1.8%	0.4%	1.2%	2.1%	3.5%	6.6%	-5.2%
Earnings yield	3.1%	2.6%	2.8%	3.4%	3.5%	3.4%	11.6%	4.7%
Enterprise value	₹189.2B	₹279B	₹292.7B	₹251.7B	₹309B	₹231.8B	₹63.6B	₹48.7B
Net debt / EBITDA	1.33×	0.73×	0.04×	0.03×	0.18×	0.46×	1.04×	2.76×
Cash conversion cycle (days)	91	81	76	77	67	56	48	66