Droneacharya Aerial Innovation (DRONACHRYA.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

-501.8%

-₹115.79

vs ₹28.82 price

Levered DCF

-₹268.48

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

9.02

Safe zone

Rating

B-

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	181.13×	-11.35×	55.71×	104.3×	5.33×	-14.54×	-94.24×
P/B	1.16×	2.64×	4.68×	5.39×	0.15×	2.08×	-237.92×
P/S	4.63×	4.43×	9.61×	19.25×	0.6×	216.51×	0×
EV / EBITDA	9.72×	-11.77×	27.29×	63.56×	-16.67×	-6.73×	-94.43×
Gross margin	13.8%	37.9%	51.9%	45.3%	51.5%	100.0%	0.0%
Operating margin	-20.5%	-57.2%	18.0%	22.7%	15.5%	-1488.0%	0.0%
Net margin	2.6%	-39.0%	17.2%	18.5%	11.3%	-1489.0%	0.0%
Current ratio	10.33×	5.41×	10.52×	8.13×	30.26×	8.58×	0.61×
Debt / equity	0.02×	0.06×	0×	0×	0.03×	0.01×	-0.9×
Interest coverage	-33.17×	-51.92×	219.08×	155.55×	371.6×	-1,488×	-229×
Dividend yield	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%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	0.6%	-23.2%	8.4%	5.2%	2.8%	-14.3%	252.7%
Return on invested capital	-3.7%	-24.1%	6.4%	4.7%	2.7%	-14.1%	2544.4%
Return on assets	0.6%	-20.0%	8.0%	4.9%	2.6%	-12.5%	-91.6%
Free cash flow yield	-12.2%	-7.4%	-1.6%	-9.0%	-112.7%	-1.8%	-0.1%
Earnings yield	0.6%	-8.8%	1.8%	1.0%	18.8%	-6.9%	-1.1%
Enterprise value	₹688.8M	₹1.5B	₹3.4B	₹3.5B	-₹95.9M	₹10M	₹21.6M
Net debt / EBITDA	0.14×	-0.03×	-0.29×	-0.44×	-20.44×	7.82×	0.11×
Cash conversion cycle (days)	761	223	306	197	154	215	0