Electrosteel Castings Limited (ELECTCAST.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

+203.1%

₹203.29

vs ₹67.06 price

Levered DCF

₹157.15

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

B-

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	28.22×	8.7×	14.68×	6.05×	6.76×	-11.85×	2.42×	19.9×
P/B	0.77×	1.07×	2.12×	0.44×	0.57×	0.29×	0.14×	0.29×
P/S	0.77×	0.84×	1.45×	0.26×	0.45×	0.31×	0.15×	0.29×
EV / EBITDA	10.81×	7.81×	10.26×	5.28×	6.79×	6.86×	5.17×	10.19×
Gross margin	33.4%	50.7%	48.6%	45.2%	37.9%	38.3%	43.1%	42.5%
Operating margin	3.1%	43.1%	42.0%	8.1%	10.9%	44.4%	12.6%	14.2%
Net margin	2.7%	9.7%	9.9%	4.3%	6.6%	-2.6%	6.0%	1.4%
Current ratio	2×	1.68×	1.58×	1.47×	1.44×	1.47×	1.17×	1.23×
Debt / equity	0.26×	0.37×	0.46×	0.61×	0.72×	0.57×	0.6×	0.67×
Interest coverage	1.3×	19.65×	14.86×	2.06×	3.01×	7.4×	1.47×	1.81×
Dividend yield	1.9%	0.9%	0.8%	2.5%	1.2%	1.2%	0.0%	1.6%
Payout ratio	53.6%	7.8%	11.4%	15.1%	7.8%	-14.2%	0.0%	32.3%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	2.7%	12.3%	14.5%	7.2%	8.5%	-2.4%	5.6%	1.4%
Return on invested capital	1.6%	29.8%	30.7%	6.0%	6.0%	23.9%	5.1%	2.3%
Return on assets	1.7%	7.3%	8.1%	3.7%	4.0%	-1.3%	2.9%	0.7%
Free cash flow yield	21.5%	3.3%	5.2%	13.9%	-20.2%	30.7%	42.6%	-13.7%
Earnings yield	3.5%	11.5%	6.8%	16.5%	14.8%	-8.4%	41.4%	5.0%
Enterprise value	₹57.8B	₹80.9B	₹129.1B	₹43.5B	₹51B	₹30.1B	₹20.7B	₹24.5B
Net debt / EBITDA	2.3×	1.85×	1.63×	2.96×	3.67×	4.39×	4.2×	7.02×
Cash conversion cycle (days)	237	267	239	230	271	248	234	216