Gautam Exim Limited (GEL.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

-96.0%

₹0.67

vs ₹16.95 price

Levered DCF

₹1.19

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

62.71

Safe zone

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	456.05×	240.74×	139.33×	64.4×	11.22×	10.43×	11.49×	9.94×
P/B	7.47×	2.44×	1.58×	1.84×	0.89×	0.59×	0.7×	1.47×
P/S	3.51×	0.92×	0.12×	0.09×	0.03×	0.03×	0.02×	0.03×
EV / EBITDA	133.01×	52.81×	26.93×	770.41×	16.33×	27.27×	21.45×	11.04×
Gross margin	3.3%	1.6%	0.7%	0.4%	0.7%	0.9%	1.3%	1.4%
Operating margin	2.6%	1.6%	0.3%	0.0%	0.4%	0.3%	0.4%	0.7%
Net margin	0.8%	0.4%	0.1%	0.1%	0.3%	0.3%	0.2%	0.3%
Current ratio	49.15×	34.95×	5.68×	2.6×	1.92×	1.38×	1.33×	1.34×
Debt / equity	0.01×	0.03×	0.75×	1.11×	1.45×	1.94×	2.81×	2.87×
Interest coverage	1.65×	1.39×	0.61×	0×	0×	0×	0×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	4.0%	2.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	45.9%	19.5%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	1.6%	1.0%	1.1%	2.9%	7.9%	5.7%	6.1%	14.8%
Return on invested capital	4.1%	3.4%	1.6%	0.0%	3.4%	1.9%	2.3%	5.7%
Return on assets	1.6%	0.9%	0.6%	1.2%	2.6%	1.1%	1.1%	2.8%
Free cash flow yield	0.7%	25.9%	4.7%	12.2%	46.0%	41.4%	23.9%	-35.0%
Earnings yield	0.2%	0.4%	0.7%	1.6%	8.9%	9.6%	8.7%	10.1%
Enterprise value	₹1B	₹327.3M	₹296M	₹337.4M	₹242.1M	₹255.3M	₹293.5M	₹388.7M
Net debt / EBITDA	0.05×	0.51×	7.99×	224.51×	8.76×	19.93×	15.81×	6.59×
Cash conversion cycle (days)	2	140	48	22	21	34	29	23