Ganon Products Ltd (GANONPRO.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

+1013.3%

₹78.49

vs ₹7.05 price

Levered DCF

-₹57.79

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

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	28.18×	131.97×	65.07×	921.38×	927.22×	218.01×	66.59×	5.39×
P/B	1.29×	0.52×	0.77×	1.26×	1.26×	1.27×	1.28×	1.05×
P/S	2.21×	0.34×	0.3×	0.97×	13.66×	13.84×	24.22×	4.94×
EV / EBITDA	12.47×	5.95×	11.89×	26.36×	31.42×	28.02×	46.67×	5.37×
Gross margin	31.5%	-4.5%	-0.5%	6.4%	74.8%	75.2%	88.5%	100.0%
Operating margin	24.8%	-5.3%	-2.5%	5.0%	70.2%	72.1%	75.8%	91.9%
Net margin	7.8%	0.3%	0.5%	0.1%	1.5%	6.3%	37.1%	91.7%
Current ratio	2.41×	0.12×	0.09×	0.12×	0.18×	0.32×	1.39×	0.14×
Debt / equity	0.95×	0×	0×	0×	0×	0×	0×	0×
Interest coverage	1.23×	-1.01×	-1.34×	1.42×	1.76×	1.77×	0×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.1%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.7%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	4.5%	0.4%	1.2%	0.1%	0.1%	0.6%	2.0%	19.5%
Return on invested capital	5.5%	-5.3%	-3.0%	4.0%	1.8%	3.5%	2.4%	19.5%
Return on assets	1.4%	0.2%	0.4%	0.1%	0.1%	0.4%	1.3%	16.3%
Free cash flow yield	-55.9%	-47.4%	65.9%	42.7%	-1.7%	-3.8%	-4.6%	2.5%
Earnings yield	3.5%	0.8%	1.5%	0.1%	0.1%	0.5%	1.5%	18.6%
Enterprise value	₹257.8M	₹57.2M	₹83M	₹135.4M	₹136.6M	₹135.8M	₹125.3M	₹136.6M
Net debt / EBITDA	5.28×	-0.02×	-0.29×	-0.25×	-0.01×	-0.19×	-4.24×	-0×
Cash conversion cycle (days)	1,958	-178	-179	-212	-1,198	-1,188	-4,638	36