GKB Ophthalmics Limited (GKB.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

-1189.8%

-₹638.61

vs ₹58.60 price

Levered DCF

-₹238.68

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

1.86

Grey zone

Rating

C-

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	21.69×	-4.64×	-15.77×	-328.94×	36.36×	-45.56×	-11.78×	-40.82×
P/B	0.5×	0.63×	0.74×	0.87×	0.73×	0.66×	0.37×	0.82×
P/S	0.18×	0.3×	0.5×	0.73×	0.66×	0.73×	0.37×	0.79×
EV / EBITDA	3.88×	-34.83×	26.54×	14.91×	9.12×	14.08×	8.09×	15.99×
Gross margin	16.3%	13.9%	28.7%	32.0%	32.0%	28.9%	35.8%	31.3%
Operating margin	3.6%	-5.2%	-2.6%	1.2%	3.3%	20.3%	-2.5%	-4.2%
Net margin	0.8%	-6.5%	-3.2%	-0.2%	1.8%	-1.6%	-3.2%	-1.9%
Current ratio	1.52×	1.59×	1.89×	2.03×	1.95×	1.94×	1.76×	1.72×
Debt / equity	0.22×	0.28×	0.19×	0.18×	0.19×	0.19×	0.26×	0.26×
Interest coverage	2.01×	-2.38×	-1.22×	0.55×	1.58×	5.79×	-1.03×	-1.61×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	-0.8%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	2.3%	-13.5%	-4.7%	-0.3%	2.0%	-1.4%	-3.1%	-2.0%
Return on invested capital	7.4%	-7.6%	-2.9%	0.9%	2.9%	11.6%	-2.0%	-2.4%
Return on assets	0.9%	-5.6%	-2.5%	-0.1%	1.2%	-0.8%	-1.8%	-1.2%
Free cash flow yield	-23.4%	-17.1%	4.8%	-7.3%	0.7%	1.3%	-2.7%	-20.6%
Earnings yield	4.6%	-21.5%	-6.3%	-0.3%	2.7%	-2.2%	-8.5%	-2.4%
Enterprise value	₹349.4M	₹441.8M	₹525.7M	₹635.7M	₹522.3M	₹472.9M	₹236.7M	₹498.3M
Net debt / EBITDA	0.94×	-9.05×	4.17×	2.08×	1.02×	1.77×	0.68×	1.52×
Cash conversion cycle (days)	105	129	158	247	213	237	222	227