Heads UP Ventures Limited (HEADSUP.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

-5709.8%

-₹330.98

vs ₹5.90 price

Levered DCF

-₹132.56

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

—

Rating

C-

Overall 1 / 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	-605×	16.25×	-7.96×	-2.91×	-6.05×	-9.64×	-0.42×	-115.93×
P/B	1.29×	1.48×	2.47×	1.54×	1.17×	0.81×	0.36×	1.03×
P/S	1.14×	15.96×	54.72×	38.31×	33.36×	60.77×	0.09×	0.32×
EV / EBITDA	77.23×	26.25×	-7.74×	-2.79×	-4.47×	-13.45×	-12.91×	12.02×
Gross margin	-3.1%	100.0%	-421.8%	-6.6%	-23.5%	-886.3%	52.2%	55.9%
Operating margin	-8.9%	53.7%	-712.3%	-1269.2%	-656.0%	-1726.2%	-5.5%	1.7%
Net margin	-0.2%	98.2%	-687.6%	-1318.8%	-550.9%	-631.7%	-20.6%	-0.3%
Current ratio	1.22×	6.59×	6.58×	6.71×	4.84×	4.13×	2.64×	1.66×
Debt / equity	0×	0×	0×	0×	0.15×	0.22×	0.06×	0.13×
Interest coverage	0×	272.5×	-1,863.88×	-18.76×	-13.15×	-38.01×	-1.07×	1.19×
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	-0.2%	9.1%	-31.0%	-53.2%	-19.3%	-8.4%	-86.2%	-0.9%
Return on invested capital	1.4%	4.2%	-32.1%	-49.8%	-19.8%	-18.7%	-21.3%	-26.8%
Return on assets	-0.1%	7.6%	-26.5%	-44.9%	-15.3%	-6.3%	-54.0%	-0.5%
Free cash flow yield	0.0%	0.4%	-3.4%	-34.3%	2.5%	45.4%	139.8%	0.6%
Earnings yield	-0.2%	6.2%	-12.6%	-34.4%	-16.5%	-10.4%	-236.3%	-0.9%
Enterprise value	₹186.9M	₹203.7M	₹330.1M	₹257M	₹216.2M	₹341.5M	₹99.8M	₹771.7M
Net debt / EBITDA	-4.27×	-2.94×	0.32×	0.25×	2.24×	-2.88×	4.09×	1.25×
Cash conversion cycle (days)	32	2,126	521	2,286	4,139	1,481	-47	49