Eighty Jewellers Limited (EIGHTY.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

+54.9%

₹68.17

vs ₹44.00 price

Levered DCF

-₹95.85

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

3.71

Safe zone

Rating

Overall 4 / 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	FY2018
P/E	2.9×	16.18×	32.23×	32.95×	16.53×	12.15×	30.13×	46.73×
P/B	0.77×	1.11×	1.86×	1.96×	3.02×	5.03×	8.46×	11.78×
P/S	0.22×	0.27×	0.58×	0.5×	0.3×	0.61×	0.76×	0.59×
EV / EBITDA	3.61×	12.39×	18.43×	17.96×	9.93×	8.67×	15.45×	18.44×
Gross margin	13.8%	7.0%	6.8%	5.8%	4.0%	9.8%	7.2%	4.4%
Operating margin	11.7%	4.0%	3.4%	3.2%	2.6%	8.0%	5.5%	3.2%
Net margin	7.6%	1.7%	1.8%	1.5%	1.8%	5.0%	2.5%	1.3%
Current ratio	2.03×	1.88×	3.57×	2.77×	1.73×	1.57×	1.29×	1.26×
Debt / equity	0.8×	0.99×	0.27×	0.41×	0.6×	1.33×	2.84×	3.07×
Interest coverage	6.82×	2.34×	2.99×	2.98×	3.18×	4.02×	2.05×	1.82×
Dividend yield	0.4%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	1.0%	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	FY2018
Return on equity	26.5%	6.8%	5.8%	6.0%	18.3%	41.4%	28.1%	25.3%
Return on invested capital	16.6%	5.7%	6.1%	5.9%	10.3%	20.2%	10.8%	10.0%
Return on assets	13.1%	3.1%	4.0%	3.5%	6.6%	12.0%	4.9%	3.6%
Free cash flow yield	-3.3%	8.2%	3.1%	-30.9%	12.3%	10.2%	-6.7%	1.3%
Earnings yield	34.5%	6.2%	3.1%	3.0%	6.1%	8.2%	3.3%	2.1%
Enterprise value	₹548.8M	₹560M	₹536.1M	₹560.9M	₹410.3M	₹579.2M	₹622.2M	₹588M
Net debt / EBITDA	1.75×	5.75×	2.27×	3×	1.62×	1.68×	3.85×	3.79×
Cash conversion cycle (days)	206	181	158	139	59	132	137	81