Diffusion Engineers Limited (DIFFNKG.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

-101.1%

-₹4.63

vs ₹405.95 price

Levered DCF

-₹31.69

After debt service

Piotroski score

4 / 9

Average

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	18.5×	27.8×	24.1×	24.95×	32.46×	47.21×	46.33×	54.37×
P/B	2.3×	2.71×	2.91×	5.2×	6.12×	7.03×	5.43×	5.9×
P/S	2.29×	2.98×	1.99×	2.92×	3.64×	4.81×	3.34×	3.35×
EV / EBITDA	11.65×	19×	12.35×	22.77×	28.05×	33.77×	30.95×	31.7×
Gross margin	19.1%	33.5%	33.8%	28.5%	29.3%	16.7%	36.7%	34.3%
Operating margin	12.4%	21.0%	19.8%	17.0%	16.8%	10.2%	18.6%	19.0%
Net margin	12.4%	10.7%	11.0%	8.8%	8.4%	7.6%	7.2%	6.2%
Current ratio	3.28×	4.38×	1.89×	1.7×	1.69×	1.97×	1.52×	1.72×
Debt / equity	0.07×	0.06×	0.18×	0.34×	0.2×	0.19×	0.34×	0.17×
Interest coverage	23.43×	30.98×	38.96×	23.19×	35.55×	9.69×	30.08×	32.94×
Dividend yield	0.6%	0.2%	0.3%	0.2%	0.1%	0.2%	0.1%	0.5%
Payout ratio	11.1%	4.4%	5.9%	7.3%	5.8%	11.2%	6.7%	28.4%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	12.4%	9.7%	16.1%	15.6%	14.1%	11.2%	11.7%	10.8%
Return on invested capital	8.9%	13.6%	17.8%	17.0%	17.8%	8.4%	16.2%	20.2%
Return on assets	9.9%	8.1%	11.1%	9.6%	9.0%	7.4%	6.6%	7.1%
Free cash flow yield	-1.4%	-0.6%	1.3%	-1.9%	-0.0%	1.4%	-2.5%	1.9%
Earnings yield	5.4%	3.6%	5.5%	3.0%	2.3%	1.6%	2.2%	1.8%
Enterprise value	₹8.6B	₹8.9B	₹5.8B	₹7.8B	₹7.6B	₹7.5B	₹5.5B	₹5.3B
Net debt / EBITDA	-0.93×	-2.21×	0.57×	1.27×	0.79×	0.67×	1.67×	0.81×
Cash conversion cycle (days)	145	157	132	166	130	139	174	145