Elin Electronics Limited (ELIN.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

-111.1%

-₹8.18

vs ₹73.74 price

Levered DCF

₹1.96

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

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	FY2019
P/E	20.39×	20.93×	49.28×	19.17×	23.74×	26.69×	33.83×	31.97×
P/B	0.83×	1.15×	1.36×	1.04×	3.07×	3.55×	4.08×	4.67×
P/S	0.36×	0.52×	0.66×	0.48×	0.87×	1.1×	1.21×	1.12×
EV / EBITDA	7.6×	9.02×	14.01×	8.78×	12.95×	14.86×	17.71×	17.78×
Gross margin	9.7%	9.6%	26.0%	6.9%	18.4%	21.4%	22.1%	8.2%
Operating margin	2.4%	2.4%	2.0%	13.4%	6.1%	6.5%	6.6%	6.0%
Net margin	1.8%	2.5%	1.3%	2.5%	3.7%	4.1%	3.6%	3.5%
Current ratio	2.44×	2.61×	2.74×	2.43×	1.74×	1.63×	1.9×	1.59×
Debt / equity	0.03×	0.05×	0.02×	0.16×	0.34×	0.43×	0.31×	0.44×
Interest coverage	3.81×	3.66×	2.54×	11.01×	5.09×	5.68×	4.37×	3.84×
Dividend yield	0.0%	0.0%	0.7%	0.8%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	34.5%	15.2%	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	4.1%	5.5%	2.8%	5.4%	12.9%	13.3%	12.1%	14.6%
Return on invested capital	4.0%	3.7%	2.8%	18.5%	11.5%	10.5%	13.1%	13.2%
Return on assets	2.9%	4.0%	2.1%	3.7%	7.4%	6.9%	7.1%	7.3%
Free cash flow yield	-2.1%	-3.9%	1.4%	1.9%	1.6%	-5.8%	4.8%	-1.5%
Earnings yield	4.9%	4.8%	2.0%	5.2%	4.2%	3.7%	3.0%	3.1%
Enterprise value	₹4.7B	₹6.4B	₹7B	₹5.9B	₹10.3B	₹10.3B	₹9.9B	₹10.1B
Net debt / EBITDA	0.2×	0.34×	0.24×	1.16×	1.24×	1.39×	1.09×	1.47×
Cash conversion cycle (days)	66	69	72	66	69	85	50	58