Electronics Mart India Limited (EMIL.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

-46.2%

₹82.80

vs ₹153.87 price

Levered DCF

₹118.16

After debt service

Piotroski score

6 / 9

Average

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	31.69×	30.25×	40.39×	18.25×	24.42×	43.33×	31.07×	32.88×
P/B	2.09×	3.16×	5.42×	1.89×	4.25×	5.15×	5.85×	7.45×
P/S	0.47×	0.7×	1.18×	0.41×	0.58×	0.79×	0.85×	0.9×
EV / EBITDA	11.79×	15.06×	19.51×	10×	12.32×	16.56×	14.58×	14.68×
Gross margin	10.0%	14.3%	14.6%	13.6%	9.1%	8.7%	9.3%	10.9%
Operating margin	3.9%	12.4%	5.5%	4.6%	5.1%	4.6%	5.9%	6.2%
Net margin	1.5%	2.3%	2.9%	2.3%	2.4%	1.8%	2.7%	2.7%
Current ratio	1.82×	1.71×	1.97×	1.9×	1.45×	1.42×	1.4×	1.37×
Debt / equity	1.23×	1.29×	1.15×	1.21×	1.92×	1.97×	2.01×	2.02×
Interest coverage	1.84×	7.35×	3.22×	2.57×	2.63×	2.06×	2.79×	3.3×
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	6.6%	10.5%	13.4%	10.4%	17.4%	11.9%	18.8%	22.6%
Return on invested capital	5.8%	18.3%	8.8%	7.3%	9.5%	7.4%	9.8%	10.5%
Return on assets	2.8%	4.3%	6.0%	4.6%	5.7%	3.8%	6.1%	7.0%
Free cash flow yield	4.8%	-3.1%	-0.2%	-11.0%	2.1%	0.2%	-1.3%	-1.4%
Earnings yield	3.2%	3.3%	2.5%	5.5%	4.1%	2.3%	3.2%	3.0%
Enterprise value	₹53.4B	₹67.9B	₹89.1B	₹34.7B	₹36.4B	₹34.7B	₹33.2B	₹31.7B
Net debt / EBITDA	4.3×	4.32×	3.25×	3.54×	3.75×	4.46×	3.45×	2.95×
Cash conversion cycle (days)	69	74	74	68	64	70	64	58