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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
-199.1%
-₹1.51
vs ₹1.52 price
Levered DCF
-₹0.92
After debt service
Piotroski score
5 / 9
Average
Altman Z-score
0.61
Distress zone
Rating
C+
Overall 2 / 5
Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E60×545.83×128.5×163×117.27×78.74×29.11×64.43×
P/B0.22×1.12×1.37×1.2×1.25×1.27×1.29×1.35×
P/S0.88×4.64×3.14×1.56×1.34×0.95×1.01×0.96×
EV / EBITDA34.17×212.05×303.95×330.09×42.44×49.44×19.88×-130.65×
Gross margin5.2%19.6%7.6%3.8%5.7%3.0%1.4%0.2%
Operating margin2.0%2.2%2.8%0.3%2.9%-68.0%-6.6%-1.1%
Net margin1.5%0.8%2.4%1.3%1.1%1.2%3.5%1.5%
Current ratio1.39×1.49×2.23×1.86×2.18×2.08×2.11×1.82×
Debt / equity0.01×0.84×5.3×7.79×0.07×0.09×0.09×0.07×
Interest coverage315.71×2.19×3.16×0.35×21.95×-6,093.48×-31.65×-65.07×
Dividend yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Payout ratio0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity0.4%0.2%1.1%1.0%1.1%1.6%4.4%2.1%
Return on invested capital0.2%0.2%0.1%0.0%0.9%-50.2%-2.8%-0.4%
Return on assets0.2%0.1%0.2%0.1%0.7%0.9%1.5%0.7%
Free cash flow yield-27.4%-6.7%9.8%-4.4%-8.1%1.5%-3.4%-0.3%
Earnings yield1.7%0.2%0.8%0.8%0.9%1.3%3.4%1.6%
Enterprise value₹980.1M₹8.9B₹8.6B₹8.1B₹1.1B₹1.1B₹1.1B₹1.1B
Net debt / EBITDA0.18×90.45×241.6×285.97×1.71×2.89×1.23×-5.79×
Cash conversion cycle (days)10488403270209258296143