Gravita India Limited (GRAVITA.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

+81.2%

₹2,565.66

vs ₹1,415.70 price

Levered DCF

₹1,383.54

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

7.51

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	25.34×	39.1×	28.7×	16.31×	15.42×	11.72×	6.94×	37.28×
P/B	3.92×	5.9×	8.2×	5.57×	5.56×	2.29×	1.02×	2.9×
P/S	2.25×	3.18×	2.18×	1.18×	0.97×	0.44×	0.17×	0.47×
EV / EBITDA	19.79×	28.36×	21.02×	12.88×	12.04×	7.56×	5.6×	13.38×
Gross margin	14.7%	16.7%	18.1%	17.8%	20.7%	19.4%	25.2%	20.4%
Operating margin	9.3%	7.9%	8.2%	7.1%	10.1%	7.0%	7.3%	4.8%
Net margin	8.9%	8.1%	7.6%	7.2%	6.3%	3.7%	2.5%	1.3%
Current ratio	2.91×	8.43×	2.4×	1.76×	1.59×	1.37×	1.24×	1.1×
Debt / equity	0.3×	0.14×	0.65×	0.59×	1.01×	0.97×	1.24×	1.26×
Interest coverage	15.98×	6.61×	5×	4.79×	6.93×	3.5×	3.38×	2.45×
Dividend yield	0.5%	0.3%	0.4%	0.1%	1.1%	1.2%	3.1%	1.7%
Payout ratio	12.2%	11.3%	12.3%	2.1%	17.1%	14.2%	21.4%	63.2%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	15.5%	15.1%	28.6%	34.1%	36.0%	19.5%	14.7%	7.8%
Return on invested capital	10.4%	11.0%	16.2%	18.2%	25.0%	14.5%	14.6%	8.4%
Return on assets	11.1%	12.4%	14.9%	16.7%	14.0%	7.2%	5.4%	2.7%
Free cash flow yield	-0.4%	1.4%	-0.8%	2.8%	-2.9%	9.0%	8.2%	3.7%
Earnings yield	3.9%	2.6%	3.5%	6.1%	6.5%	8.5%	14.4%	2.7%
Enterprise value	₹101.3B	₹120.9B	₹73.8B	₹36B	₹25.2B	₹8.7B	₹5B	₹8.2B
Net debt / EBITDA	1.04×	-0.28×	1.46×	1.14×	1.76×	2.18×	3.02×	3.9×
Cash conversion cycle (days)	133	93	120	101	122	87	71	61