Gem Aromatics Ltd. (GEMAROMA.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

-158.4%

-₹80.66

vs ₹138.00 price

Levered DCF

-₹124.81

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

C-

Overall 1 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
P/E	492.68×	28.01×	33.27×	37.32×	53.44×	2.46×
P/B	1.56×	5.87×	7.23×	9.28×	12.06×	0.52×
P/S	1.92×	3.37×	3.73×	3.98×	5.36×	0.19×
EV / EBITDA	20.56×	229.73×	22.05×	26.49×	33.84×	3.36×
Gross margin	14.0%	18.3%	22.7%	23.1%	22.2%	18.0%
Operating margin	5.0%	15.5%	16.2%	16.0%	14.4%	15.6%
Net margin	0.4%	10.8%	11.2%	10.7%	10.0%	7.6%
Current ratio	2.16×	1.89×	2.47×	2.12×	2.01×	2.11×
Debt / equity	0.34×	0.8×	0.49×	0.5×	0.57×	0.5×
Interest coverage	1.43×	809.96×	11.88×	13.18×	16.83×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Return on equity	0.3%	18.8%	21.7%	24.9%	22.6%	21.0%
Return on invested capital	0.7%	10.8%	15.6%	19.7%	14.6%	22.1%
Return on assets	0.2%	10.0%	13.6%	15.1%	13.0%	12.5%
Free cash flow yield	-11.1%	-7.8%	0.1%	0.1%	-1.2%	-10.2%
Earnings yield	0.2%	3.2%	3.0%	2.7%	1.9%	40.7%
Enterprise value	₹8.4B	₹18.9B	₹17.6B	₹17.5B	₹17.4B	₹1B
Net debt / EBITDA	3.33×	27.39×	1.2×	1.21×	1.39×	1.52×
Cash conversion cycle (days)	325	263	203	207	223	159