Gokul Refoils & Solvent Limited (GOKUL.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

-154.1%

-₹19.18

vs ₹35.46 price

Levered DCF

-₹26.21

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

5.45

Safe zone

Rating

D+

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	18.53×	28.47×	201.39×	10.78×	11.87×	8.72×	5.6×	9×
P/B	0.94×	1.22×	1.09×	0.79×	1.04×	0.64×	0.36×	0.37×
P/S	0.08×	0.12×	0.12×	0.08×	0.1×	0.07×	0.05×	0.05×
EV / EBITDA	9.02×	9.9×	16.72×	9.48×	16.94×	8.8×	5.49×	6.83×
Gross margin	2.6%	2.9%	3.8%	5.3%	3.3%	4.2%	3.3%	3.9%
Operating margin	0.6%	0.7%	1.2%	1.4%	1.0%	1.7%	1.5%	1.3%
Net margin	0.4%	0.4%	0.1%	0.8%	0.9%	0.8%	0.9%	0.5%
Current ratio	1.37×	1.47×	1.47×	1.34×	1.27×	1.4×	1.73×	1.57×
Debt / equity	1.06×	0.81×	1.01×	1.29×	1.21×	1.02×	0.76×	0.92×
Interest coverage	0.77×	0.74×	1.08×	1.68×	1.64×	2.21×	1.18×	0.94×
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%	0.0%	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	5.1%	4.3%	0.5%	7.4%	8.7%	7.4%	6.5%	4.1%
Return on invested capital	2.5%	2.9%	3.6%	4.6%	3.3%	5.7%	4.7%	3.3%
Return on assets	2.0%	1.9%	0.2%	2.9%	3.2%	2.9%	3.3%	2.0%
Free cash flow yield	-1.2%	-4.4%	6.0%	24.1%	-26.7%	-1.3%	54.5%	65.5%
Earnings yield	5.4%	3.5%	0.5%	9.3%	8.4%	11.4%	17.9%	11.1%
Enterprise value	₹6.2B	₹6.4B	₹6.7B	₹6.2B	₹6.8B	₹4.4B	₹3.2B	₹3.7B
Net debt / EBITDA	4.04×	3.43×	7.8×	5.48×	9.04×	5.24×	3.6×	4.84×
Cash conversion cycle (days)	23	27	36	39	45	46	41	38