Dynacons Systems & Solutions Limited (DSSL.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

+116.9%

₹2,123.73

vs ₹979.20 price

Levered DCF

₹1,038.29

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

Overall 3 / 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	11.78×	18.66×	24.81×	11.27×	13.69×	8.03×	2.4×	4.28×
P/B	3.17×	5.85×	8.47×	3.6×	3.31×	1.38×	0.37×	0.69×
P/S	0.7×	1.07×	1.3×	0.47×	0.34×	0.16×	0.04×	0.07×
EV / EBITDA	7.4×	12.99×	16.61×	7.54×	9.37×	5.53×	3.26×	4.25×
Gross margin	10.9%	9.3%	9.0%	8.5%	6.0%	5.8%	7.1%	6.7%
Operating margin	9.2%	8.2%	7.5%	6.6%	4.5%	4.0%	4.1%	3.9%
Net margin	5.9%	5.7%	5.3%	4.2%	2.5%	2.0%	1.7%	1.7%
Current ratio	1.35×	1.36×	1.39×	1.42×	1.35×	1.4×	1.44×	1.46×
Debt / equity	0.75×	0.6×	0.23×	0.66×	0.94×	0.88×	1×	1.11×
Interest coverage	5.66×	7.84×	10.29×	4.9×	3.28×	2.45×	1.75×	2.03×
Dividend yield	0.1%	0.0%	0.0%	0.1%	0.2%	0.7%	3.3%	0.0%
Payout ratio	0.8%	0.9%	1.2%	1.6%	3.1%	5.4%	8.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	26.9%	31.3%	34.1%	31.9%	24.2%	17.2%	15.4%	16.2%
Return on invested capital	17.6%	20.7%	29.0%	22.7%	16.4%	13.9%	13.6%	12.5%
Return on assets	8.4%	9.3%	9.2%	8.3%	5.5%	4.7%	4.6%	5.1%
Free cash flow yield	-4.2%	2.7%	2.1%	3.4%	-7.0%	9.6%	31.0%	16.4%
Earnings yield	8.5%	5.4%	4.0%	8.9%	7.3%	12.5%	41.7%	23.3%
Enterprise value	₹11.2B	₹14.6B	₹13.7B	₹4.3B	₹2.9B	₹1.1B	₹500M	₹563.2M
Net debt / EBITDA	0.82×	0.93×	0.42×	0.92×	2.06×	1.99×	2.37×	2.58×
Cash conversion cycle (days)	31	20	23	46	45	52	53	57