Eveready Industries India Limited (EVEREADY.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

+18.0%

₹369.45

vs ₹313.05 price

Levered DCF

₹265.16

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

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	11.13×	27.02×	36.89×	76.88×	52.43×	-6.3×	2.06×	29.37×
P/B	3.06×	4.83×	6.37×	6.65×	8.39×	8.01×	0.66×	3.74×
P/S	1.31×	1.66×	1.89×	1.61×	2.04×	1.59×	0.3×	0.94×
EV / EBITDA	9.73×	16.47×	19.29×	22.38×	22.23×	-5.84×	2.36×	14.42×
Gross margin	28.7%	45.4%	42.4%	38.0%	39.3%	44.2%	38.5%	34.4%
Operating margin	9.2%	8.3%	8.6%	6.3%	7.4%	-29.3%	8.2%	7.1%
Net margin	11.8%	6.1%	5.1%	2.1%	3.9%	-25.2%	14.8%	3.2%
Current ratio	1.32×	1.16×	1.15×	1.08×	0.94×	0.92×	1.58×	1.23×
Debt / equity	0.32×	0.68×	0.79×	1.25×	1.36×	1.8×	0.71×	1.09×
Interest coverage	7.04×	4.34×	3.46×	1.47×	1.85×	-7.1×	1.43×	1.94×
Dividend yield	0.6%	0.3%	0.0%	0.0%	0.0%	0.0%	0.0%	0.8%
Payout ratio	6.4%	8.8%	0.0%	0.0%	0.0%	0.0%	0.0%	22.8%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	27.5%	17.9%	17.3%	8.6%	16.0%	-127.2%	32.1%	12.7%
Return on invested capital	15.8%	11.9%	13.1%	9.2%	12.3%	-33.7%	8.4%	10.6%
Return on assets	14.1%	7.6%	6.9%	2.8%	4.9%	-30.6%	14.2%	4.0%
Free cash flow yield	-1.4%	1.5%	4.9%	0.6%	5.0%	8.2%	31.6%	-1.0%
Earnings yield	9.0%	3.7%	2.7%	1.3%	1.9%	-15.9%	48.6%	3.4%
Enterprise value	₹21B	₹25.3B	₹27.6B	₹25.2B	₹27.9B	₹23.4B	₹7.5B	₹18.1B
Net debt / EBITDA	0.89×	1.99×	2.09×	3.51×	2.8×	-0.93×	1.2×	3.2×
Cash conversion cycle (days)	61	69	80	74	58	57	177	101