Fermenta Biotech Ltd. (FERMENTA.BO) 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

-76.5%

₹99.58

vs ₹424.25 price

Levered DCF

₹781.58

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	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	12.92×	10.78×	-20.39×	-6.04×	38.45×	15.87×	10.31×	6.52×
P/B	2.28×	2.28×	1.63×	0.98×	1.59×	2×	1.98×	3.06×
P/S	1.77×	1.76×	1.41×	0.88×	1.49×	1.94×	2.15×	1.95×
EV / EBITDA	10.27×	7.53×	20.62×	-292.45×	13×	10.7×	10.32×	6.74×
Gross margin	43.4%	68.6%	57.1%	17.6%	25.0%	30.6%	37.7%	49.3%
Operating margin	14.6%	18.2%	1.1%	-2.0%	9.3%	15.7%	15.5%	32.1%
Net margin	13.7%	16.4%	-6.9%	-14.6%	3.9%	12.2%	20.8%	29.9%
Current ratio	1.86×	1.58×	1.4×	1.21×	1.52×	1.48×	1.46×	1.89×
Debt / equity	0.28×	0.32×	0.48×	0.7×	0.64×	0.64×	0.72×	0.83×
Interest coverage	6.63×	6.03×	0.22×	-0.33×	2.05×	3.07×	1.98×	5.92×
Dividend yield	0.8%	0.4%	0.8%	1.4%	1.2%	0.0%	1.0%	0.2%
Payout ratio	10.2%	4.7%	-15.7%	-8.2%	46.7%	0.0%	10.0%	1.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	17.7%	21.2%	-8.0%	-16.2%	4.2%	12.6%	19.2%	46.9%
Return on invested capital	10.4%	15.8%	0.8%	-1.3%	3.3%	8.0%	8.0%	23.8%
Return on assets	11.1%	12.5%	-4.2%	-8.0%	2.2%	6.4%	9.5%	20.8%
Free cash flow yield	6.0%	2.3%	18.3%	24.5%	1.1%	1.0%	-8.1%	4.8%
Earnings yield	7.7%	9.3%	-4.9%	-16.5%	2.6%	6.3%	9.7%	15.3%
Enterprise value	₹10.1B	₹9.2B	₹5.9B	₹4.9B	₹8.1B	₹9.4B	₹8.1B	₹9.3B
Net debt / EBITDA	0.83×	0.71×	4.11×	-109.32×	3.5×	2.46×	2.51×	1.18×
Cash conversion cycle (days)	175	196	148	157	220	360	288	178