EPL Limited (EPL.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

+76.7%

₹397.84

vs ₹225.19 price

Levered DCF

₹338.88

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

B-

Overall 3 / 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	16.89×	17.99×	27.23×	22.69×	28.51×	31.16×	23.61×	19.26×
P/B	2.3×	2.75×	2.78×	2.59×	3.35×	4.39×	3.19×	2.67×
P/S	1.38×	1.54×	1.48×	1.39×	1.79×	2.42×	1.78×	1.38×
EV / EBITDA	7.48×	8.06×	9.16×	9.39×	11.4×	12.9×	9.65×	8.11×
Gross margin	31.9%	58.8%	56.1%	54.7%	51.2%	53.7%	53.6%	52.2%
Operating margin	12.2%	11.7%	9.4%	8.5%	9.5%	12.4%	12.0%	12.0%
Net margin	8.2%	8.5%	5.4%	6.1%	6.3%	7.8%	7.5%	7.2%
Current ratio	1.56×	1.51×	1.52×	1.69×	1.71×	1.74×	1.7×	1.9×
Debt / equity	0.34×	0.34×	0.44×	0.45×	0.42×	0.38×	0.48×	0.46×
Interest coverage	5.06×	4.33×	3.22×	4.67×	8.3×	8.9×	6.05×	5.44×
Dividend yield	2.4%	2.4%	2.4%	2.6%	2.2%	1.7%	1.8%	1.2%
Payout ratio	41.1%	42.5%	64.2%	60.1%	61.8%	54.0%	41.9%	23.6%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	13.6%	15.2%	10.2%	11.4%	11.8%	14.1%	13.5%	13.9%
Return on invested capital	12.1%	13.1%	9.2%	9.1%	9.1%	11.4%	10.8%	10.4%
Return on assets	7.9%	9.0%	5.6%	6.2%	6.5%	7.9%	7.4%	7.6%
Free cash flow yield	2.2%	6.7%	3.6%	4.2%	0.6%	4.6%	7.3%	1.4%
Earnings yield	5.9%	5.5%	3.7%	4.4%	3.5%	3.2%	4.2%	5.2%
Enterprise value	₹73.3B	₹70.9B	₹65.2B	₹57.9B	₹66.9B	₹78.6B	₹53.2B	₹42.5B
Net debt / EBITDA	0.77×	0.69×	1×	1.05×	0.99×	0.67×	0.77×	1.03×
Cash conversion cycle (days)	85	87	20	88	100	69	73	102