Haria Apparels Limited (HARIAAPL.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

+32.0%

₹6.47

vs ₹4.90 price

Levered DCF

₹3.34

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

B-

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	109.4×	9.83×	9.9×	6.01×	17.81×	-2.77×	-13.62×	9.85×
P/B	11.43×	1.35×	1.66×	1.61×	2.19×	2.51×	1.32×	1.2×
P/S	8.07×	0×	0×	0×	7.03×	0×	9.06×	0.4×
EV / EBITDA	65.17×	6.88×	7.38×	5.53×	5.24×	-20.48×	-12.77×	6.49×
Gross margin	-2.8%	0.0%	0.0%	0.0%	-149.9%	0.0%	2.8%	2.0%
Operating margin	-13.5%	0.0%	0.0%	0.0%	-28.1%	0.0%	-144.2%	-6.4%
Net margin	7.4%	0.0%	0.0%	0.0%	40.1%	0.0%	-66.5%	4.0%
Current ratio	0.29×	0.06×	0.04×	0.06×	0.05×	0.41×	0.6×	0.92×
Debt / equity	0.04×	0.06×	0.25×	0.33×	0.54×	1.73×	0.73×	0.93×
Interest coverage	-3.56×	-8.36×	-4.46×	-5.45×	-1.34×	-2.66×	-2.11×	-1.23×
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	10.4%	13.7%	16.9%	26.7%	12.5%	-90.7%	-9.7%	12.2%
Return on invested capital	-16.9%	-19.7%	-17.5%	-15.6%	-2.0%	-14.5%	-12.0%	-9.7%
Return on assets	4.2%	5.6%	5.9%	8.1%	3.0%	-23.2%	-4.0%	3.4%
Free cash flow yield	0.1%	16.6%	0.1%	7.3%	151.7%	-5.1%	7.4%	-8.1%
Earnings yield	0.9%	10.1%	10.2%	16.6%	5.7%	-36.1%	-7.3%	10.2%
Enterprise value	₹783.3M	₹83.2M	₹99.7M	₹83.6M	₹85.1M	₹118.3M	₹109.3M	₹124.6M
Net debt / EBITDA	0.1×	0.05×	0.88×	0.85×	0.88×	-8.22×	-4.5×	2.8×
Cash conversion cycle (days)	80	-105	-138	-244	-2	-3,220	-493	10