Haldyn Glass Limited (HALDYNGL.BO) 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

-306.6%

-₹267.64

vs ₹129.55 price

Levered DCF

-₹272.41

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

C+

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	15.61×	26.67×	33.64×	12.54×	19.36×	22.91×	12.19×	36.46×
P/B	1.65×	2.33×	4.14×	1.9×	1.49×	1.19×	0.72×	1.51×
P/S	0.83×	1.31×	2.85×	1.06×	1.07×	0.96×	0.44×	0.91×
EV / EBITDA	6.63×	10.21×	16.34×	10.73×	10.86×	5.51×	2.97×	7.36×
Gross margin	53.6%	58.2%	30.7%	26.6%	26.1%	16.5%	15.3%	16.3%
Operating margin	6.9%	6.3%	8.1%	8.1%	6.3%	6.7%	7.0%	7.0%
Net margin	5.3%	4.9%	8.5%	8.4%	5.5%	4.2%	3.6%	2.5%
Current ratio	1.01×	1.09×	0.96×	1.88×	2.89×	3.37×	3.77×	2.76×
Debt / equity	0.49×	0.6×	0.62×	0.26×	0.08×	0.04×	0.02×	0.06×
Interest coverage	2.4×	1.61×	2.48×	13.47×	17.8×	15.73×	16.14×	30.83×
Dividend yield	1.0%	0.8%	0.5%	1.0%	1.4%	1.9%	3.2%	0.8%
Payout ratio	15.2%	20.0%	15.3%	12.0%	27.3%	43.1%	39.1%	29.1%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	10.6%	8.7%	12.3%	15.2%	7.7%	5.2%	5.9%	4.1%
Return on invested capital	6.6%	5.1%	4.9%	9.4%	6.5%	4.9%	7.3%	8.0%
Return on assets	4.9%	3.8%	5.5%	9.9%	5.9%	4.0%	4.8%	3.2%
Free cash flow yield	5.9%	-0.7%	-10.3%	-9.5%	1.0%	10.2%	11.0%	1.1%
Earnings yield	6.4%	3.8%	3.0%	8.0%	5.2%	4.4%	8.2%	2.7%
Enterprise value	₹5B	₹6.3B	₹9.5B	₹3.8B	₹2.4B	₹1.4B	₹854.1M	₹2B
Net debt / EBITDA	1.51×	2.04×	2.07×	1.18×	0.47×	-1.25×	-0.52×	-0.17×
Cash conversion cycle (days)	75	123	90	58	119	122	95	104