GTPL Hathway Limited (GTPL.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

-402.1%

-₹163.76

vs ₹54.20 price

Levered DCF

₹364.53

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

0.8

Distress zone

Rating

Overall 3 / 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	40.14×	26.06×	18.37×	9.64×	9.76×	7.16×	6.04×	41.96×
P/B	0.55×	1.07×	1.69×	1×	1.89×	1.53×	0.64×	1.19×
P/S	0.17×	0.36×	0.61×	0.41×	0.81×	0.55×	0.2×	0.64×
EV / EBITDA	2.55×	-4.75×	4.28×	2.25×	3.62×	2.52×	1.48×	3.63×
Gross margin	25.8%	32.9%	14.0%	34.1%	21.8%	36.0%	35.6%	51.7%
Operating margin	0.8%	2.0%	4.8%	6.1%	12.2%	11.2%	11.4%	13.0%
Net margin	0.4%	1.4%	3.3%	4.3%	8.3%	7.6%	3.3%	1.5%
Current ratio	0.5×	0.52×	0.46×	0.48×	0.56×	0.56×	0.53×	0.62×
Debt / equity	0.44×	0.27×	0.25×	0.15×	0.13×	0.21×	0.34×	0.52×
Interest coverage	0.75×	2.37×	6.79×	16.47×	20.43×	12.04×	6.25×	4.79×
Dividend yield	3.6%	3.6%	2.3%	4.1%	2.3%	2.5%	2.9%	1.7%
Payout ratio	142.7%	93.9%	42.0%	39.5%	22.5%	17.9%	17.4%	71.7%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	1.4%	4.1%	9.2%	10.3%	19.3%	21.4%	10.7%	2.8%
Return on invested capital	1.1%	3.1%	6.9%	8.2%	16.5%	16.9%	13.4%	9.7%
Return on assets	0.5%	1.5%	3.5%	4.2%	8.5%	8.0%	3.6%	0.9%
Free cash flow yield	10.1%	5.4%	-0.9%	10.5%	4.4%	13.1%	30.5%	7.2%
Earnings yield	2.5%	3.8%	5.4%	10.4%	10.2%	14.0%	16.6%	2.4%
Enterprise value	₹11B	₹15.4B	₹21.9B	₹11.3B	₹20.2B	₹14.4B	₹6.4B	₹10.1B
Net debt / EBITDA	1.09×	-0.89×	0.44×	0.06×	0.13×	0.16×	0.39×	0.79×
Cash conversion cycle (days)	-48	-82	-42	-76	-39	-62	-76	-56