Elpro International Limited (ELPROINTL.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

+79.9%

₹297.75

vs ₹165.50 price

Levered DCF

-₹4,187.17

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

C+

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	16.72×	18.47×	17.24×	21.2×	0.96×	35.69×	40×	8.31×
P/B	0.72×	0.6×	0.92×	0.8×	0.83×	4.1×	4.12×	5.95×
P/S	2.77×	3.13×	5.14×	8.26×	14.04×	11.11×	5.06×	20.17×
EV / EBITDA	11.86×	14.69×	13.36×	15.14×	0.79×	26.89×	17.43×	7.77×
Gross margin	35.8%	26.4%	59.2%	50.1%	70.7%	71.7%	49.9%	79.7%
Operating margin	26.8%	18.1%	57.9%	36.2%	41.5%	42.7%	28.8%	36.6%
Net margin	16.5%	16.9%	29.8%	38.9%	1459.2%	31.3%	12.7%	242.7%
Current ratio	0.59×	0.52×	0.79×	1.18×	8.65×	0.52×	0.49×	0.42×
Debt / equity	0.6×	0.5×	0.23×	0.1×	0.05×	1.22×	1.64×	0.98×
Interest coverage	1.33×	1.05×	6.59×	9.7×	1.32×	1.1×	1.26×	0.62×
Dividend yield	0.8%	1.0%	1.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	13.6%	17.9%	16.5%	0.0%	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	4.3%	3.2%	5.3%	3.8%	85.8%	11.5%	10.4%	71.5%
Return on invested capital	3.5%	1.9%	6.4%	2.2%	1.9%	6.6%	6.9%	4.4%
Return on assets	2.4%	1.9%	4.0%	3.2%	76.6%	4.3%	3.2%	23.2%
Free cash flow yield	-8.8%	-4.3%	6.6%	-36.0%	-16.1%	2.0%	-0.2%	-14.2%
Earnings yield	6.0%	5.4%	5.8%	4.7%	103.9%	2.8%	2.5%	12.0%
Enterprise value	₹26.3B	₹22.3B	₹18.3B	₹11.4B	₹10.3B	₹9.1B	₹7.8B	₹9.7B
Net debt / EBITDA	5.27×	6.64×	2.63×	1.65×	0.01×	6.05×	4.94×	1.09×
Cash conversion cycle (days)	-9	-5	-43	48	-398	-145	6	1,460