Dhruva Capital Services Ltd. (DHRUVCA.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

+5.7%

₹83.92

vs ₹79.39 price

Levered DCF

-₹1,079.60

After debt service

Piotroski score

1 / 9

Weak

Altman Z-score

—

Rating

D+

Overall 1 / 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	98.16×	66.73×	41.88×	937.94×	549.83×	1,594.5×	1,744.53×	2,277.86×
P/B	5.15×	7.63×	14.66×	11.16×	11.19×	11.42×	11.51×	11.59×
P/S	51.11×	39.1×	155.35×	209.1×	237.32×	277.33×	247.86×	247.95×
EV / EBITDA	177.54×	60.53×	196.9×	755.39×	895.22×	1,626.2×	709.43×	849.34×
Gross margin	42.0%	80.6%	97.0%	88.6%	83.5%	84.0%	90.3%	86.7%
Operating margin	17.0%	68.2%	78.8%	27.0%	25.7%	2.6%	14.6%	8.8%
Net margin	52.1%	58.7%	371.0%	22.3%	43.6%	18.0%	14.2%	11.6%
Current ratio	48.7×	168.91×	304.54×	29.77×	60.19×	32.81×	38.56×	30.67×
Debt / equity	0.41×	0.48×	0×	0.01×	0.01×	0.01×	0.01×	0.01×
Interest coverage	0×	0×	0×	0×	0×	0×	0×	0×
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	5.2%	11.4%	35.0%	1.2%	2.1%	0.7%	0.7%	0.5%
Return on invested capital	1.0%	5.4%	7.0%	1.1%	1.1%	0.1%	0.6%	0.3%
Return on assets	3.5%	6.2%	34.3%	1.1%	1.9%	0.7%	0.6%	0.5%
Free cash flow yield	-7.2%	-10.3%	-3.7%	0.1%	-0.1%	0.0%	-0.0%	0.0%
Earnings yield	1.0%	1.5%	2.4%	0.1%	0.2%	0.1%	0.1%	0.0%
Enterprise value	₹1.7B	₹892.3M	₹1.8B	₹525M	₹520.4M	₹520.1M	₹520.3M	₹520.3M
Net debt / EBITDA	13.13×	3.56×	-0.25×	-0.36×	0.49×	0.2×	0.31×	0.36×
Cash conversion cycle (days)	-6	-32	3,573	3,219	3,739	4,292	-133	-632