Ducon Infratechnologies Limited (DUCON.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

-3121.0%

-₹41.09

vs ₹1.36 price

Levered DCF

₹0.95

After debt service

Piotroski score

3 / 9

Weak

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	4.76×	9.15×	18.04×	24.2×	63.1×	211.9×	20.08×	13.02×
P/B	0.32×	0.74×	1.14×	0.83×	1.9×	0.6×	0.22×	1.05×
P/S	0.12×	0.28×	0.33×	0.26×	0.74×	0.26×	0.05×	0.21×
EV / EBITDA	4.5×	6×	10.62×	12.22×	22.39×	12.23×	12.13×	10.12×
Gross margin	7.8%	9.7%	5.9%	7.2%	6.6%	5.4%	4.8%	8.4%
Operating margin	6.0%	6.7%	4.8%	3.8%	4.0%	3.6%	3.0%	4.4%
Net margin	2.6%	3.0%	1.8%	1.0%	1.2%	0.1%	0.2%	1.6%
Current ratio	2.17×	2.28×	1.74×	1.88×	1.97×	2.15×	1.39×	1.45×
Debt / equity	0.63×	0.61×	0.86×	0.78×	0.55×	0.45×	1.55×	1.39×
Interest coverage	2.85×	2.79×	2.09×	1.52×	1.62×	1×	1.04×	1.72×
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	6.6%	8.1%	6.3%	3.3%	3.0%	0.3%	1.1%	8.1%
Return on invested capital	6.1%	7.7%	6.1%	4.8%	4.5%	4.4%	4.1%	6.6%
Return on assets	3.6%	4.5%	2.6%	1.5%	1.5%	0.1%	0.3%	2.3%
Free cash flow yield	-5.6%	-10.8%	8.8%	0.5%	3.2%	-61.5%	22.1%	-7.1%
Earnings yield	21.0%	10.9%	5.6%	4.0%	1.6%	0.5%	5.0%	7.7%
Enterprise value	₹1.2B	₹1.9B	₹2.3B	₹2B	₹3.7B	₹1.5B	₹1.3B	₹1.8B
Net debt / EBITDA	2.53×	2.04×	4.27×	5.89×	5.02×	5.21×	10.57×	5.48×
Cash conversion cycle (days)	192	179	180	181	201	216	189	166