Divyashakti Limited (DIVSHKT.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

+157.9%

₹169.94

vs ₹65.89 price

Levered DCF

-₹37.24

After debt service

Piotroski score

3 / 9

Weak

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	44.01×	26.86×	34.06×	9.45×	9.63×	7.82×	3.14×	18.96×
P/B	0.23×	0.34×	0.64×	0.6×	0.59×	0.44×	0.22×	0.96×
P/S	1.33×	1.07×	1.13×	0.98×	1.08×	0.87×	0.39×	2.92×
EV / EBITDA	-95.74×	11.56×	12.84×	4.93×	4.87×	3.17×	1.07×	8.6×
Gross margin	2.6%	5.3%	16.7%	30.8%	19.5%	35.3%	22.1%	33.6%
Operating margin	-8.0%	-1.5%	1.1%	5.0%	10.1%	18.6%	4.8%	8.7%
Net margin	3.0%	4.0%	3.3%	10.4%	11.2%	11.1%	12.4%	15.4%
Current ratio	8.47×	6.11×	6.8×	9.39×	8.62×	6.66×	5.27×	3.52×
Debt / equity	0.03×	0.01×	0.03×	0×	0×	0×	0×	0×
Interest coverage	-21.79×	-6.27×	4.76×	43.77×	113.06×	140.57×	17.11×	18.6×
Dividend yield	4.4%	0.2%	2.6%	2.8%	2.2%	3.1%	7.5%	1.6%
Payout ratio	195.7%	6.0%	88.5%	26.2%	21.5%	23.9%	23.5%	30.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	0.5%	1.3%	1.9%	6.3%	6.1%	5.6%	7.0%	5.1%
Return on invested capital	-1.0%	-0.3%	0.4%	2.1%	4.0%	6.9%	2.0%	2.1%
Return on assets	0.5%	1.1%	1.6%	5.7%	5.4%	4.9%	5.9%	4.0%
Free cash flow yield	-6.7%	-7.8%	-1.9%	-13.2%	1.2%	18.9%	-80.6%	-8.6%
Earnings yield	2.3%	3.7%	2.9%	10.6%	10.4%	12.8%	31.9%	5.3%
Enterprise value	₹511.6M	₹689.3M	₹746.9M	₹671.3M	₹580.4M	₹345.1M	₹130.6M	₹724.4M
Net debt / EBITDA	-9.3×	0.15×	-0.75×	-0.5×	-0.9×	-1.36×	-0.85×	-2.98×
Cash conversion cycle (days)	1,153	589	504	435	419	419	418	454