Elixir Capital Ltd (ELIXIR.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

+353.7%

₹434.21

vs ₹95.70 price

Levered DCF

₹236.04

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	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	15.68×	8.24×	3.3×	-8.14×	2.29×	1.84×	-5.56×	-81.85×
P/B	0.81×	1.35×	1.06×	0.59×	0.59×	0.59×	1.04×	0.85×
P/S	1.41×	2.21×	1.49×	6.26×	0.96×	0.9×	-51.99×	6.18×
EV / EBITDA	8.39×	4.73×	2.37×	-12.41×	1.26×	1.4×	-4.4×	60.98×
Gross margin	36.9%	65.0%	90.0%	100.0%	95.4%	95.1%	133.5%	100.0%
Operating margin	17.4%	56.1%	78.3%	-19.4%	83.8%	83.1%	718.4%	50.0%
Net margin	9.0%	26.8%	45.2%	-76.9%	41.8%	49.0%	934.7%	-7.5%
Current ratio	2.01×	2.37×	2.52×	2.81×	2.31×	1.91×	2.87×	71.33×
Debt / equity	0.69×	0.55×	0.49×	0.22×	0.47×	0.61×	0.06×	0.05×
Interest coverage	2.41×	9.61×	21.61×	-0.6×	12.08×	18.29×	-19.25×	9.22×
Dividend yield	2.1%	1.3%	1.9%	5.0%	4.5%	6.0%	4.7%	4.5%
Payout ratio	32.6%	10.6%	6.3%	-40.5%	10.3%	11.1%	-26.3%	-371.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	5.1%	16.4%	32.2%	-7.2%	25.8%	31.9%	-18.7%	-1.0%
Return on invested capital	3.6%	12.3%	14.2%	-1.1%	20.9%	23.8%	-9.6%	4.0%
Return on assets	2.3%	8.1%	16.2%	-3.6%	11.6%	12.5%	-10.0%	-0.7%
Free cash flow yield	5.7%	1.5%	-33.1%	29.1%	20.2%	-12.9%	59.8%	10.1%
Earnings yield	6.4%	12.1%	30.3%	-12.3%	43.6%	54.2%	-18.0%	-1.2%
Enterprise value	₹692.2M	₹972.4M	₹655.1M	₹161.1M	₹238.1M	₹209.6M	₹181.3M	₹209.3M
Net debt / EBITDA	2.63×	0.99×	0.51×	2.87×	0.09×	0.28×	0.78×	-2.67×
Cash conversion cycle (days)	1,090	1,884	5,689	4,314	5,945	6,340	21,051	0