Garnet International Limited (GARNETINT.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

-81.6%

₹9.01

vs ₹49.00 price

Levered DCF

-₹1.79

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

D+

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	19.21×	156.04×	-19.22×	39.93×	-62.73×	-12.61×	-5.92×	-1.79×
P/B	2.15×	6.28×	4.21×	3.55×	3.72×	1.52×	1.88×	2.39×
P/S	18.73×	27.56×	7.08×	1.93×	2.6×	3.14×	3.76×	1.25×
EV / EBITDA	19.51×	1,283.48×	-323.01×	22.73×	432.34×	-39.99×	-6.67×	-1.79×
Gross margin	86.4%	28.7%	2.1%	14.2%	6.4%	1.7%	10.6%	-19.5%
Operating margin	69.4%	2.2%	-8.2%	7.8%	-2.1%	-14.0%	-1.4%	-32.8%
Net margin	97.5%	17.7%	-36.8%	4.8%	-4.1%	-24.9%	-63.2%	-69.5%
Current ratio	22.31×	9.55×	4.1×	1.36×	3.98×	3.37×	3.96×	5.9×
Debt / equity	0.03×	0.17×	0.36×	0.68×	0.38×	0.19×	0.07×	0.06×
Interest coverage	1,878.61×	29.59×	-142.44×	3.89×	-2.64×	-8.81×	-1.51×	-295.93×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	1.1%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	-2.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	11.2%	4.0%	-21.9%	8.9%	-5.9%	-12.1%	-31.5%	-133.3%
Return on invested capital	7.4%	0.4%	-4.1%	9.0%	-1.8%	-5.2%	-0.6%	-52.2%
Return on assets	10.5%	3.6%	-17.6%	4.4%	-3.3%	-7.6%	-22.9%	-102.0%
Free cash flow yield	-3.4%	-1.2%	5.6%	-8.5%	-3.7%	-11.0%	-19.0%	15.8%
Earnings yield	5.2%	0.6%	-5.2%	2.5%	-1.6%	-7.9%	-16.8%	-55.8%
Enterprise value	₹924.5M	₹2.4B	₹1.2B	₹1.3B	₹1.2B	₹529.5M	₹667.2M	₹1.1B
Net debt / EBITDA	0.25×	32.51×	-25.18×	3.58×	39.64×	-4.47×	-0.18×	-0.04×
Cash conversion cycle (days)	927	187	140	142	11	-22	-11	-5