Dhunseri Investments Limited (DHUNINV.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

-2549.5%

-₹20,259.85

vs ₹827.10 price

Levered DCF

-₹22,819.84

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

C+

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	23.41×	9.67×	14.91×	1.25×	2.47×	1.15×	21.93×	1.88×
P/B	0.15×	0.33×	0.28×	0.16×	0.2×	0.1×	0.05×	0.15×
P/S	0.99×	1.47×	1.92×	1.68×	1.5×	1.19×	1.15×	0.23×
EV / EBITDA	13.56×	8.98×	5.26×	0.91×	1.06×	0.6×	-72.7×	3.2×
Gross margin	14.9%	48.4%	19.3%	14.1%	29.9%	61.5%	43.5%	7.4%
Operating margin	-25.1%	38.4%	16.1%	-2.6%	22.5%	78.0%	-55.7%	-0.3%
Net margin	4.2%	15.2%	12.9%	134.6%	60.6%	103.0%	5.2%	4.1%
Current ratio	1.82×	5.74×	6.71×	7.07×	75.99×	38.36×	25.07×	14.58×
Debt / equity	0.35×	0.14×	0.15×	0.16×	0.06×	0.04×	0.07×	0.06×
Interest coverage	-1.61×	7.78×	4.43×	-1×	10.55×	22.1×	-5.38×	-0.1×
Dividend yield	2.9%	1.0%	1.3%	2.1%	1.4%	1.1%	11.1%	9.5%
Payout ratio	67.7%	10.1%	18.9%	2.6%	3.5%	1.2%	244.0%	54.2%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	0.7%	3.4%	1.9%	12.9%	7.9%	8.4%	0.2%	2.6%
Return on invested capital	-1.4%	3.7%	1.0%	-0.1%	1.5%	3.7%	-1.2%	-0.1%
Return on assets	0.4%	2.1%	1.1%	7.4%	5.3%	5.9%	0.2%	1.8%
Free cash flow yield	-157.2%	-3.4%	5.7%	-60.2%	-30.0%	-10.3%	53.6%	321.1%
Earnings yield	4.3%	10.3%	6.7%	80.1%	40.4%	86.8%	4.6%	17.6%
Enterprise value	₹12.8B	₹11.3B	₹10.7B	₹6.7B	₹4.7B	₹2B	₹1.4B	₹2.2B
Net debt / EBITDA	9.09×	1.97×	1.7×	0.41×	0.2×	0.12×	-33.72×	0.75×
Cash conversion cycle (days)	-7	15	18	24	81	119	176	12