Gillette India Limited (GILLETTE.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

+88.7%

₹13,735.89

vs ₹7,279.00 price

Levered DCF

₹7,539.47

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

18.83

Safe zone

Rating

A-

Overall 4 / 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	36.12×	46.77×	57.84×	46.5×	56.29×	59.56×	70.54×	96.46×
P/B	24.97×	25.46×	24.52×	16.72×	18.91×	23.43×	17.82×	31.34×
P/S	7.63×	8.74×	9.04×	6.68×	7.22×	9.2×	9.67×	13.11×
EV / EBITDA	24.78×	30.66×	35.71×	28.65×	32.63×	37.22×	43.2×	61.47×
Gross margin	53.8%	50.2%	56.3%	50.5%	52.0%	54.3%	72.1%	72.5%
Operating margin	27.9%	23.9%	21.4%	19.0%	19.3%	21.0%	18.9%	18.1%
Net margin	21.1%	18.7%	15.6%	14.4%	12.8%	15.4%	13.7%	13.6%
Current ratio	1.54×	1.64×	1.56×	1.53×	1.43×	1.46×	2.02×	1.69×
Debt / equity	0×	0×	0×	0×	0×	0×	0×	0×
Interest coverage	71.68×	167.61×	65.23×	60.73×	41.43×	80.33×	58.26×	42.88×
Dividend yield	3.1%	1.4%	1.8%	1.4%	1.4%	2.3%	0.6%	0.6%
Payout ratio	113.0%	64.4%	106.8%	65.0%	77.7%	138.6%	42.6%	54.1%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	69.1%	54.4%	42.4%	36.0%	33.6%	39.3%	25.3%	32.5%
Return on invested capital	60.9%	47.3%	38.5%	32.3%	32.5%	35.5%	23.9%	29.3%
Return on assets	35.0%	29.0%	22.5%	18.6%	17.9%	22.2%	17.0%	20.9%
Free cash flow yield	2.5%	1.2%	1.9%	2.3%	2.1%	1.9%	1.2%	0.2%
Earnings yield	2.8%	2.1%	1.7%	2.2%	1.8%	1.7%	1.4%	1.0%
Enterprise value	₹233.7B	₹256.3B	₹233.4B	₹160.8B	₹160B	₹183.2B	₹160.1B	₹242.6B
Net debt / EBITDA	-0.29×	-0.5×	-0.72×	-0.81×	-0.59×	-0.33×	-0.62×	-0.35×
Cash conversion cycle (days)	9	-2	-38	-31	-17	21	39	6