Fineotex Chemical Limited (FCL.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

-26.3%

₹36.50

vs ₹49.50 price

Levered DCF

₹17.57

After debt service

Piotroski score

4 / 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	17.65×	2.49×	3.44×	2.92×	3.63×	1.71×	1.26×	2.05×
P/B	2.18×	0.37×	0.92×	0.74×	0.76×	0.35×	0.1×	0.29×
P/S	2.49×	0.5×	0.72×	0.5×	0.55×	0.34×	0.08×	0.26×
EV / EBITDA	11.21×	1.58×	2.39×	2.01×	2.23×	0.92×	0.09×	0.98×
Gross margin	26.0%	38.6%	38.2%	34.4%	35.5%	34.9%	36.4%	34.6%
Operating margin	15.7%	22.1%	33.6%	21.1%	18.7%	18.1%	17.3%	18.5%
Net margin	14.1%	20.3%	21.1%	17.1%	15.0%	19.6%	6.7%	12.4%
Current ratio	2.8×	3.89×	3.2×	3.52×	3.41×	3.33×	3.68×	3.67×
Debt / equity	0.01×	0×	0.01×	0.02×	0.01×	0.02×	0.02×	0.01×
Interest coverage	89.08×	110.4×	143.64×	132.65×	74.15×	54.17×	53.34×	40.15×
Dividend yield	0.7%	3.4%	5.5%	2.3%	2.5%	1.8%	19.5%	5.5%
Payout ratio	12.9%	8.5%	18.9%	6.7%	9.0%	3.1%	24.4%	11.4%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	12.3%	14.8%	26.8%	25.3%	21.0%	20.3%	7.7%	14.2%
Return on invested capital	10.3%	12.2%	31.7%	23.3%	19.4%	14.1%	12.1%	14.4%
Return on assets	9.4%	13.3%	21.9%	20.9%	16.3%	15.9%	6.3%	11.6%
Free cash flow yield	-2.5%	-2.7%	12.0%	34.4%	-4.6%	-20.5%	135.0%	9.0%
Earnings yield	5.7%	40.2%	29.1%	34.2%	27.6%	58.3%	79.9%	48.8%
Enterprise value	₹18.8B	₹2.4B	₹3.9B	₹2.3B	₹1.7B	₹533.4M	₹20.2M	₹341.7M
Net debt / EBITDA	-0.23×	-0.19×	-0.11×	-0.27×	-0.38×	-0.34×	-0.62×	-0.34×
Cash conversion cycle (days)	142	96	65	72	112	128	103	122