GMM Pfaudler Limited (GMMPFAUDLR.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

+88.6%

₹2,318.33

vs ₹1,229.20 price

Levered DCF

₹3,302.98

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

2.54

Grey zone

Rating

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	61.66×	88.05×	33.17×	39.82×	78.31×	85.7×	51.64×	35.4×
P/B	2.96×	4.56×	6.01×	8.1×	12.63×	15.46×	10.71×	6.66×
P/S	1.01×	1.46×	1.69×	2.05×	2.62×	6.29×	6.21×	3.56×
EV / EBITDA	10.69×	13.98×	13.38×	16.7×	24.1×	51.92×	31.31×	20.35×
Gross margin	23.9%	57.5%	20.0%	59.7%	60.1%	55.0%	56.4%	53.2%
Operating margin	7.0%	29.6%	9.7%	9.3%	6.1%	27.7%	15.4%	13.1%
Net margin	1.6%	1.7%	5.2%	5.1%	3.3%	7.3%	12.0%	10.1%
Current ratio	1.6×	1.67×	1.61×	1.49×	1.58×	1.63×	2.37×	2.38×
Debt / equity	0.86×	0.83×	0.94×	1.21×	1.21×	1.55×	0.1×	0×
Interest coverage	2.19×	9.18×	3.51×	4.45×	6.26×	27.22×	26.09×	383.67×
Dividend yield	0.2%	0.2%	0.2%	0.1%	0.1%	0.1%	0.2%	0.5%
Payout ratio	15.0%	16.6%	5.0%	5.5%	8.5%	9.9%	11.2%	17.1%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	4.8%	5.2%	18.5%	20.3%	16.1%	18.0%	20.7%	18.8%
Return on invested capital	4.4%	21.7%	10.1%	10.7%	5.0%	15.5%	17.7%	15.7%
Return on assets	1.4%	1.7%	5.7%	4.9%	3.1%	3.0%	13.1%	11.6%
Free cash flow yield	6.5%	6.8%	3.8%	1.8%	1.6%	1.2%	-0.2%	0.6%
Earnings yield	1.6%	1.1%	3.1%	2.5%	1.3%	1.2%	1.9%	2.8%
Enterprise value	₹39.7B	₹50.5B	₹64.1B	₹71.7B	₹70B	₹66.8B	₹36.6B	₹17.1B
Net debt / EBITDA	1.09×	1.06×	1.22×	1.54×	1.19×	3.02×	-0.11×	-0.9×
Cash conversion cycle (days)	71	117	105	144	158	359	159	146