Fine Organic Industries Limited (FINEORG.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

+18.7%

₹6,078.27

vs ₹5,120.50 price

Levered DCF

₹4,959.92

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

32.33

Safe zone

Rating

C-

Overall 1 / 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	29.09×	30.82×	31.34×	21.36×	47.31×	58.2×	35.47×	29.08×
P/B	4.55×	5.51×	6.72×	8.57×	12.8×	9.57×	9.44×	7.92×
P/S	5.13×	5.58×	6.08×	4.37×	6.55×	6.18×	5.63×	3.74×
EV / EBITDA	17.82×	24.31×	22.86×	15.3×	33.12×	34.19×	23.93×	16.98×
Gross margin	30.8%	40.6%	41.8%	40.5%	36.0%	35.1%	40.3%	37.2%
Operating margin	18.0%	34.4%	35.8%	36.9%	31.1%	27.9%	33.1%	31.1%
Net margin	17.6%	18.1%	19.4%	20.4%	13.8%	10.6%	15.9%	12.8%
Current ratio	8.49×	8.46×	9.13×	5.37×	3.53×	4.01×	3.91×	4.12×
Debt / equity	0.03×	0×	0×	0.02×	0.06×	0.12×	0.2×	0.26×
Interest coverage	103.44×	355.51×	312.71×	243.79×	114.33×	51.59×	71.19×	179.15×
Dividend yield	0.3%	0.2%	0.2%	0.2%	0.3%	0.1%	0.7%	0.7%
Payout ratio	8.1%	7.5%	6.7%	4.5%	13.0%	7.6%	24.7%	19.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	15.7%	17.9%	21.4%	40.1%	27.1%	16.5%	26.6%	27.2%
Return on invested capital	12.0%	25.1%	29.9%	52.2%	43.4%	28.5%	35.2%	31.2%
Return on assets	13.9%	16.4%	19.5%	34.2%	21.0%	12.7%	19.3%	19.4%
Free cash flow yield	2.9%	0.6%	4.2%	3.1%	0.0%	1.2%	2.5%	0.4%
Earnings yield	3.4%	3.2%	3.2%	4.7%	2.1%	1.7%	2.8%	3.4%
Enterprise value	₹107.5B	₹124.6B	₹122.2B	₹127.2B	₹121.1B	₹68.3B	₹57.6B	₹39.8B
Net debt / EBITDA	-2.29×	-0.36×	-1.29×	-0.59×	-0.46×	-0.85×	-0.34×	0.09×
Cash conversion cycle (days)	106	109	91	97	84	66	74	20