Hathway Cable and Datacom Limited (HATHWAY.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

+106.0%

₹18.79

vs ₹9.12 price

Levered DCF

-₹20.57

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

1.82

Grey 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	19.28×	25.87×	38.39×	35×	23.63×	17.97×	22.8×	-26.9×
P/B	0.36×	0.55×	0.89×	0.55×	0.74×	1.14×	0.64×	1.39×
P/S	0.74×	1.17×	1.92×	1.23×	1.71×	2.63×	1.32×	3.24×
EV / EBITDA	3.69×	6.37×	8.93×	6.31×	8.15×	9.1×	5.38×	-60.14×
Gross margin	12.7%	51.8%	7.2%	10.4%	11.1%	17.6%	64.7%	57.2%
Operating margin	0.6%	0.4%	2.5%	1.5%	5.4%	11.8%	10.0%	4.3%
Net margin	3.8%	4.5%	5.0%	3.5%	7.3%	14.6%	5.8%	-12.0%
Current ratio	4.01×	3.57×	3.47×	3×	2.33×	3.13×	1.37×	2.84×
Debt / equity	0×	0×	0×	0×	0×	0×	0.53×	0.54×
Interest coverage	13.79×	6.26×	42.84×	149.47×	208.61×	5.33×	0.78×	0.32×
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	1.8%	2.1%	2.3%	1.6%	3.2%	6.3%	2.8%	-5.2%
Return on invested capital	0.2%	0.1%	0.8%	0.5%	1.9%	4.6%	3.0%	0.4%
Return on assets	1.6%	1.8%	2.0%	1.4%	2.8%	5.6%	1.6%	-2.9%
Free cash flow yield	2.1%	3.9%	-16.6%	2.6%	-1.6%	0.6%	2.6%	-0.7%
Earnings yield	5.2%	3.9%	2.6%	2.8%	4.3%	5.6%	4.4%	-3.7%
Enterprise value	₹15.6B	₹22B	₹37.9B	₹21.2B	₹30.3B	₹44.7B	₹32.8B	₹69.5B
Net debt / EBITDA	-0.07×	-0.57×	-0.05×	-0.51×	-0.07×	-0.15×	1.47×	-16.37×
Cash conversion cycle (days)	-46	-124	-42	-46	-39	-49	-115	-101