Frontier Springs Limited (FRONTSP.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

-80.1%

₹267.96

vs ₹1,348.00 price

Levered DCF

₹895.69

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	23.65×	22.43×	37.17×	19.38×	14.26×	13.43×	4.95×	11.73×
P/B	7.9×	6.15×	5.4×	1.88×	1.59×	1.76×	1.35×	2.61×
P/S	4.5×	3.28×	3.56×	1.31×	1.28×	1.36×	0.69×	1.18×
EV / EBITDA	16.67×	15.07×	22.64×	10.75×	8.22×	7.65×	3.72×	8.02×
Gross margin	50.3%	50.4%	25.9%	15.4%	18.9%	59.5%	37.8%	34.3%
Operating margin	25.3%	19.9%	13.0%	8.8%	11.2%	14.5%	18.1%	13.4%
Net margin	19.0%	14.9%	9.6%	6.8%	9.0%	10.1%	14.0%	10.1%
Current ratio	3.53×	2.15×	1.94×	1.63×	1.91×	1.97×	1.82×	1.34×
Debt / equity	0.06×	0.05×	0.04×	0.06×	0.05×	0.06×	0.17×	0.23×
Interest coverage	292.29×	205.46×	30.26×	28.33×	33.36×	22.51×	13.64×	9.58×
Dividend yield	0.1%	0.1%	0.1%	0.3%	0.4%	0.4%	0.6%	0.5%
Payout ratio	1.3%	2.0%	4.5%	5.4%	5.2%	5.6%	3.2%	5.5%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	33.4%	28.0%	14.5%	9.7%	11.1%	13.1%	27.3%	22.2%
Return on invested capital	30.5%	25.9%	13.6%	8.5%	9.5%	12.5%	23.1%	18.7%
Return on assets	28.1%	20.5%	10.5%	6.6%	8.1%	9.3%	18.0%	12.4%
Free cash flow yield	1.2%	1.0%	0.8%	0.8%	3.7%	8.1%	4.7%	5.5%
Earnings yield	4.2%	4.5%	2.7%	5.2%	7.0%	7.4%	20.2%	8.5%
Enterprise value	₹14.6B	₹7.6B	₹4.8B	₹1.4B	₹1.1B	₹1.1B	₹770.7M	₹1.1B
Net debt / EBITDA	0.08×	0.01×	0.07×	0.2×	0.11×	0.05×	0.37×	0.64×
Cash conversion cycle (days)	120	96	95	80	110	121	79	67