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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
-35.4%
₹4.68
vs ₹7.25 price
Levered DCF
-₹10.08
After debt service
Piotroski score
2 / 9
Weak
Altman Z-score
—
Rating
D+
Overall 1 / 5
Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

MetricFY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
P/E114.2×64.48×-2,582.52×35×27.71×380×674.27×443.33×
P/B4.3×6.29×12.02×7.55×7.46×10.18×19.73×20.34×
P/S10.56×3.73×18.99×4.32×4.91×5.82×5.88×13.06×
EV / EBITDA37.3×26.31×434.65×20.2×22.56×255.08×387.55×316.42×
Gross margin49.5%18.8%16.2%22.9%25.7%-7.6%5.7%14.3%
Operating margin26.2%13.0%5.5%20.4%23.4%-10.1%2.8%6.8%
Net margin9.3%5.0%-0.7%12.3%17.8%1.6%0.9%3.0%
Current ratio2.99×3.05×4.7×6.87×2.17×3.62×1.21×1.68×
Debt / equity0.54×0.42×0.09×0.1×0.06×0.12×0.01×0.02×
Interest coverage4.06×6.68×7.99×35.69×65.42×-34.79×7.21×12.29×
Dividend yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Payout ratio0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Key metrics by fiscal year
MetricFY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Return on equity3.8%8.4%-0.5%21.5%27.0%2.7%2.9%4.7%
Return on invested capital5.1%10.3%2.3%23.4%28.0%-14.6%8.7%9.0%
Return on assets1.7%3.9%-0.3%12.6%20.6%2.1%0.8%2.3%
Free cash flow yield-5.5%-4.6%-1.1%-2.4%6.8%-0.8%0.4%-1.5%
Earnings yield0.9%1.3%-0.0%2.9%3.6%0.3%0.1%0.2%
Enterprise value₹7B₹9.4B₹14.1B₹8.4B₹6.2B₹6.2B₹6.2B₹6.2B
Net debt / EBITDA4.05×1.46×1.6×0.13×0.06×2.99×-0.05×0.09×
Cash conversion cycle (days)2,40035373926996115237271