GTL Limited (GTL.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

+3175.8%

₹208.67

vs ₹6.37 price

Levered DCF

₹137.41

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

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	0.14×	-15.65×	0.73×	1.32×	0.4×	1.23×	-0.6×	-0.18×
P/B	-0.01×	-0.02×	-0.03×	-0.01×	-0.03×	-0.01×	-0×	-0.01×
P/S	0.36×	0.52×	0.76×	0.41×	0.89×	0.37×	0.08×	0.34×
EV / EBITDA	8.38×	79.71×	24.19×	70.42×	13.64×	71.76×	-11.9×	-11×
Gross margin	52.4%	89.8%	49.1%	86.6%	75.3%	74.1%	67.0%	50.3%
Operating margin	36.3%	33.6%	39.1%	34.6%	18.6%	29.5%	-2.0%	-3.9%
Net margin	259.6%	-3.3%	104.4%	30.7%	223.3%	20.7%	-13.9%	-189.5%
Current ratio	0.02×	0.02×	0.03×	0.03×	0.02×	0.01×	0.02×	0.01×
Debt / equity	-0.9×	-0.94×	-0.96×	-0.97×	-0.97×	-0.88×	-0.33×	-0.32×
Interest coverage	2.26×	2.52×	2.73×	2.51×	1.58×	3.15×	-0.23×	-0.52×
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	-10.7%	0.1%	-3.5%	-0.9%	-6.9%	-0.6%	0.4%	5.6%
Return on invested capital	-14.8%	7.5%	-33.5%	-39.3%	-18.5%	-7.5%	0.1%	0.2%
Return on assets	440.1%	-8.0%	102.6%	22.2%	197.5%	23.2%	-11.3%	-133.9%
Free cash flow yield	205.2%	142.0%	111.9%	20.7%	15.8%	74.5%	450.8%	114.0%
Earnings yield	730.4%	-6.4%	136.7%	75.8%	249.6%	55.4%	-166.1%	-555.8%
Enterprise value	₹49.5B	₹57.7B	₹59.2B	₹61.4B	₹62.6B	₹66.4B	₹24.8B	₹24.6B
Net debt / EBITDA	8.25×	77.9×	23.56×	69.56×	13.27×	70.87×	-11.82×	-10.66×
Cash conversion cycle (days)	23	-131	63	113	-13	-24	-99	-187