FCS Software Solutions Limited (FCSSOFT.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

-34.8%

₹0.96

vs ₹1.47 price

Levered DCF

₹3.43

After debt service

Piotroski score

4 / 9

Average

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	76.47×	115.6×	-53.9×	235.29×	-13,166.67×	-9.02×	-1.07×	-0.26×
P/B	0.48×	0.99×	1.52×	0.95×	1.94×	0.37×	0.08×	0.12×
P/S	3.44×	11.79×	17.7×	9.79×	19.51×	3.26×	0.88×	1.17×
EV / EBITDA	12.21×	31.44×	-304.92×	44.11×	106.06×	-28.64×	-24.99×	10.45×
Gross margin	25.5%	35.1%	31.1%	21.1%	20.4%	39.6%	29.8%	25.0%
Operating margin	1.7%	5.8%	10.3%	4.0%	5.4%	3.0%	-70.4%	-456.2%
Net margin	4.5%	10.2%	-32.8%	4.2%	-0.2%	-36.2%	-82.0%	-455.1%
Current ratio	3.09×	1.99×	2.36×	1×	1.11×	2.2×	1.49×	2.38×
Debt / equity	0×	0×	0×	0.05×	0.06×	0.08×	0.09×	0.08×
Interest coverage	0.2×	0.4×	0.6×	0.8×	0.82×	0.44×	-7.11×	-157.48×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	0.6%	0.9%	-2.8%	0.4%	-0.0%	-4.1%	-7.8%	-48.4%
Return on invested capital	0.1%	0.4%	0.8%	0.2%	-0.1%	0.3%	-6.1%	-44.4%
Return on assets	0.6%	0.8%	-2.6%	0.4%	-0.0%	-3.7%	-7.0%	-43.1%
Free cash flow yield	14.6%	0.4%	2.1%	0.6%	0.3%	1.8%	-41.1%	-60.5%
Earnings yield	1.3%	0.9%	-1.9%	0.4%	-0.0%	-11.1%	-93.3%	-388.0%
Enterprise value	₹1.6B	₹4.2B	₹6.5B	₹3.6B	₹6.9B	₹1.3B	₹500.8M	₹562.6M
Net debt / EBITDA	-3.37×	-1.05×	0.73×	2×	2.88×	-4.67×	-12.26×	2.52×
Cash conversion cycle (days)	43	56	22	30	12	100	41	-55