DRC Systems India Limited (DRCSYSTEMS.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

-211.1%

-₹12.78

vs ₹11.50 price

Levered DCF

₹86.35

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

4.53

Safe zone

Rating

S-

Overall 5 / 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	10.33×	24.33×	23.22×	29.6×	209.24×	-236.08×	4,510×	-1,734.62×
P/B	1.77×	5.68×	5.65×	5.81×	21.68×	19.83×	21.82×	0.75×
P/S	2.08×	5.61×	5.67×	7.77×	7.54×	5.49×	4.81×	0.13×
EV / EBITDA	6.97×	17.33×	17.83×	20.81×	64.09×	67.41×	160.29×	1.86×
Gross margin	29.6%	32.8%	36.8%	34.1%	20.5%	14.7%	36.6%	34.2%
Operating margin	22.3%	25.1%	34.0%	18.2%	4.9%	11.7%	-5.4%	0.1%
Net margin	20.2%	23.1%	24.4%	26.1%	3.6%	-2.3%	0.1%	-0.0%
Current ratio	0.49×	0.92×	1.03×	4.16×	3.58×	1.27×	1.93×	1.19×
Debt / equity	0×	0.01×	0.02×	0.02×	2.34×	0×	0×	0×
Interest coverage	40.5×	342.52×	270.1×	280.67×	249.87×	571.64×	-5.57×	3×
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	17.1%	23.3%	24.4%	19.5%	10.4%	-8.4%	0.5%	-0.0%
Return on invested capital	17.1%	22.2%	30.6%	10.6%	2.4%	31.1%	-4.0%	0.0%
Return on assets	12.5%	15.1%	14.8%	17.1%	2.8%	-3.3%	0.2%	-0.0%
Free cash flow yield	24.0%	2.6%	1.2%	-0.5%	-1.3%	0.7%	-0.5%	-110.7%
Earnings yield	9.7%	4.1%	4.3%	3.4%	0.5%	-0.4%	0.0%	-0.1%
Enterprise value	₹2B	₹3.7B	₹2.7B	₹2B	₹1.6B	₹1.1B	₹517.7M	₹9.6M
Net debt / EBITDA	-0.1×	-0.07×	-0.23×	-0.19×	6.05×	-1.03×	-1.63×	-1.52×
Cash conversion cycle (days)	-11	37	169	67	-33	104	51	247