Energy Development Company Limited (ENERGYDEV.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

+1077.5%

₹157.31

vs ₹13.36 price

Levered DCF

₹199.70

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

B-

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	-263×	-0.84×	-50.11×	17.7×	10.55×	-8.71×	-6.72×	-6.28×
P/B	16.32×	20.61×	1.07×	0.72×	1.02×	0.47×	0.22×	0.35×
P/S	1.38×	2.5×	3.62×	2×	2.34×	1.34×	0.68×	1×
EV / EBITDA	7.67×	-3.91×	14.49×	7.74×	7.72×	10.92×	14.21×	12.29×
Gross margin	68.7%	43.2%	94.4%	95.9%	96.2%	93.3%	87.6%	35.4%
Operating margin	39.9%	-83.2%	78.4%	39.1%	47.9%	20.9%	7.0%	14.7%
Net margin	-0.5%	-296.9%	-7.2%	11.3%	22.2%	-15.3%	-10.1%	-15.9%
Current ratio	0.36×	0.32×	0.77×	0.79×	0.78×	1.07×	1.05×	1.17×
Debt / equity	35.19×	36.94×	1.52×	1.53×	1.63×	1.82×	1.7×	1.66×
Interest coverage	1.78×	-2.83×	2.38×	1.06×	1.38×	0.35×	0.11×	0.26×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	5.3%	14.0%	6.8%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	-46.0%	-94.3%	-42.6%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-6.2%	-2451.1%	-2.1%	4.1%	9.7%	-5.3%	-3.2%	-5.6%
Return on invested capital	-0.9%	-18.9%	9.2%	4.6%	8.1%	1.6%	0.3%	1.2%
Return on assets	-0.1%	-50.8%	-0.6%	1.2%	2.7%	-1.4%	-0.9%	-1.6%
Free cash flow yield	24.9%	4.0%	9.5%	25.4%	27.8%	36.3%	88.8%	42.8%
Earnings yield	-0.4%	-118.9%	-2.0%	5.6%	9.5%	-11.4%	-14.9%	-16.0%
Enterprise value	₹1.8B	₹2.3B	₹2.6B	₹2.3B	₹2.6B	₹2B	₹1.8B	₹2B
Net debt / EBITDA	4.94×	-2.51×	8.44×	5.19×	4.69×	8.67×	12.59×	10.15×
Cash conversion cycle (days)	-258	-104	-1,922	-2,683	-2,601	-1,514	-291	120