Emerald Leisures Limited (EMERALL.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

-97.1%

₹7.92

vs ₹275.00 price

Levered DCF

-₹285.14

After debt service

Piotroski score

1 / 9

Weak

Altman Z-score

—

Rating

C-

Overall 1 / 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	-30.48×	-24.54×	-6.18×	-3.85×	-4.28×	-1×	-2.15×	-0.66×
P/B	-3.1×	-3.51×	-0.78×	-0.21×	-0.33×	-0.24×	-0.12×	-0.17×
P/S	15.8×	17.4×	3.81×	0.95×	2.21×	2.29×	0.54×	0.65×
EV / EBITDA	56.58×	87.21×	28.19×	15.85×	41.18×	78.12×	38.87×	81.07×
Gross margin	64.0%	82.8%	37.7%	33.5%	6.4%	85.1%	79.4%	76.0%
Operating margin	32.7%	69.0%	19.8%	19.4%	-14.4%	58.6%	56.8%	53.0%
Net margin	-51.8%	-70.9%	-61.6%	-68.7%	-143.7%	-228.2%	-69.8%	-97.5%
Current ratio	0.33×	0.26×	0.03×	0.04×	0.04×	0.04×	0.04×	0.05×
Debt / equity	-1.76×	-1.8×	-1.57×	-1.23×	-1.24×	-1.44×	-1.86×	-2.17×
Interest coverage	0.38×	0.8×	0.23×	0.22×	-0.11×	0.36×	1.04×	0.88×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	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	10.2%	14.3%	12.6%	15.1%	21.5%	24.1%	15.9%	25.3%
Return on invested capital	6.8%	14.7%	5.7%	4.8%	-2.5%	5.4%	13.5%	10.9%
Return on assets	-8.6%	-12.2%	-14.4%	-14.4%	-16.7%	-13.9%	-11.5%	-14.4%
Free cash flow yield	-5.1%	-9.6%	9.2%	-26.5%	3.9%	31.6%	82.8%	33.0%
Earnings yield	-3.3%	-4.1%	-16.2%	-72.0%	-64.9%	-99.5%	-129.1%	-150.8%
Enterprise value	₹4.1B	₹4B	₹1.8B	₹963.7M	₹892.2M	₹750.3M	₹1.1B	₹1.1B
Net debt / EBITDA	20.44×	29.54×	18.79×	13.53×	32.42×	66.81×	36.45×	75.25×
Cash conversion cycle (days)	2,141	2,964	-8	-6	-7	7	102	121