Greaves Cotton Limited (GREAVESCOT.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

-191.4%

-₹185.32

vs ₹202.72 price

Levered DCF

-₹871.66

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

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	26.22×	84.89×	-22.32×	37.4×	-124.8×	-157.59×	12.88×	21.56×
P/B	1.96×	3.54×	2.1×	1.84×	5.89×	3.77×	2.08×	3.66×
P/S	0.82×	1.71×	1.15×	1.08×	2.58×	1.98×	0.87×	1.76×
EV / EBITDA	10.57×	36.27×	-16.45×	15.21×	97.01×	52.2×	6.54×	11.88×
Gross margin	18.9%	31.9%	31.0%	27.0%	9.4%	27.3%	30.6%	31.0%
Operating margin	3.8%	20.8%	0.1%	3.1%	-0.9%	2.1%	8.1%	10.1%
Net margin	3.1%	2.0%	-5.1%	2.9%	-2.1%	-1.3%	6.8%	8.2%
Current ratio	1.86×	1.69×	1.72×	2.3×	1.53×	1.56×	1.78×	1.78×
Debt / equity	0.28×	0.06×	0.06×	0.02×	0.34×	0.03×	0.04×	0.01×
Interest coverage	5×	37.2×	0.33×	7.14×	-2.77×	4.42×	30.64×	50.21×
Dividend yield	1.7%	0.9%	0.7%	0.2%	0.1%	0.0%	0.0%	4.6%
Payout ratio	43.5%	79.6%	-15.4%	5.9%	-13.1%	0.0%	0.0%	98.3%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	7.5%	4.2%	-9.4%	4.9%	-4.7%	-2.4%	16.2%	17.0%
Return on invested capital	2.0%	-3.0%	0.2%	2.6%	-1.4%	3.7%	13.6%	13.2%
Return on assets	3.7%	2.3%	-5.5%	2.9%	-2.1%	-1.5%	10.3%	11.3%
Free cash flow yield	1.0%	-1.3%	-10.3%	-7.3%	-2.9%	3.3%	1.6%	1.9%
Earnings yield	3.8%	1.2%	-4.5%	2.7%	-0.8%	-0.6%	7.8%	4.6%
Enterprise value	₹26.4B	₹49.2B	₹29.5B	₹28.6B	₹45.8B	₹28B	₹15.4B	₹35.2B
Net debt / EBITDA	-0.68×	-0.4×	0.37×	-0.31×	3.53×	-2.89×	-0.54×	-0.1×
Cash conversion cycle (days)	4	12	13	30	13	-9	21	12