Denis Chem Lab Limited (DENISCHEM.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

+21.6%

₹77.20

vs ₹63.50 price

Levered DCF

₹67.50

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

4.36

Safe zone

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	9.33×	16.06×	18.85×	11.27×	14.88×	22.7×	9.75×	16.59×
P/B	0.86×	1.52×	2.62×	1.22×	1.4×	0.83×	0.7×	1.87×
P/S	0.43×	0.75×	1.25×	0.55×	0.68×	0.47×	0.3×	0.85×
EV / EBITDA	4.2×	6.99×	9.33×	4.54×	6.17×	5.51×	3.56×	8.09×
Gross margin	33.0%	32.0%	35.5%	24.9%	45.6%	47.5%	52.5%	49.6%
Operating margin	6.0%	5.3%	8.5%	6.9%	8.5%	7.0%	6.1%	6.3%
Net margin	4.6%	4.7%	6.6%	4.9%	4.6%	2.1%	3.1%	5.1%
Current ratio	2.7×	2.7×	2.55×	2.46×	2.11×	1.93×	1.46×	1.26×
Debt / equity	0.05×	0.01×	0.01×	0.03×	0.05×	0.14×	0.23×	0.4×
Interest coverage	12.86×	18.12×	26.3×	17.3×	15.42×	4.92×	3.4×	2.7×
Dividend yield	2.7%	2.7%	1.3%	2.4%	1.1%	0.0%	4.1%	0.0%
Payout ratio	24.8%	43.0%	24.9%	26.5%	16.6%	0.0%	39.9%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	9.2%	9.5%	13.9%	10.9%	9.4%	3.7%	7.1%	11.2%
Return on invested capital	7.9%	7.8%	12.7%	10.5%	11.4%	7.8%	8.2%	9.7%
Return on assets	6.7%	7.2%	10.2%	7.9%	6.5%	2.5%	4.3%	6.0%
Free cash flow yield	1.9%	3.7%	5.4%	13.2%	12.4%	11.9%	27.2%	-1.5%
Earnings yield	10.7%	6.2%	5.3%	8.9%	6.7%	4.4%	10.2%	6.0%
Enterprise value	₹821.9M	₹1.3B	₹2.1B	₹879.6M	₹950.3M	₹584M	₹544.4M	₹1.3B
Net debt / EBITDA	0.19×	-0.02×	-0.03×	-0.03×	0.12×	0.67×	0.87×	1.29×
Cash conversion cycle (days)	46	29	34	34	37	72	46	63