Earthstahl & Alloys Limited (EARTH.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

-495.3%

-₹55.34

vs ₹14.00 price

Levered DCF

-₹59.03

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

1.13

Distress zone

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
P/E	-4.61×	76.16×	30×	5.89×	6.94×	19.44×	-156.08×
P/B	0.69×	1.08×	1.54×	1.24×	3.43×	6.77×	10.39×
P/S	0.37×	0.56×	0.65×	0.48×	1.06×	2.16×	1.64×
EV / EBITDA	-19.2×	13.08×	11.13×	4.25×	4.94×	9.86×	26.09×
Gross margin	1.0%	16.7%	12.9%	13.4%	27.4%	21.6%	6.2%
Operating margin	-9.4%	1.9%	3.5%	11.6%	24.4%	19.5%	3.9%
Net margin	-8.0%	0.7%	2.2%	8.2%	15.3%	11.1%	-1.1%
Current ratio	0.85×	0.97×	1.03×	1.62×	1.42×	0.73×	0.61×
Debt / equity	0.46×	0.49×	0.35×	0.36×	0.96×	1.82×	3.47×
Interest coverage	-3.89×	1.22×	3.29×	10.11×	9.97×	2.7×	0.7×
Dividend yield	0.0%	0.0%	1.1%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	32.4%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Return on equity	-15.0%	1.4%	5.1%	21.1%	49.4%	34.8%	-6.7%
Return on invested capital	-9.1%	1.7%	3.6%	16.5%	26.0%	17.2%	5.3%
Return on assets	-8.6%	0.8%	3.1%	13.0%	20.9%	9.5%	-1.1%
Free cash flow yield	14.5%	-26.0%	-6.1%	3.0%	-0.6%	7.9%	-1.6%
Earnings yield	-21.7%	1.3%	3.3%	17.0%	14.4%	5.1%	-0.6%
Enterprise value	₹373.8M	₹585.8M	₹688.6M	₹543.8M	₹664.6M	₹652.7M	₹693M
Net debt / EBITDA	-7.6×	4.07×	1.93×	0.79×	1.08×	2.01×	6.52×
Cash conversion cycle (days)	28	61	25	42	72	57	47