Hester Biosciences Limited (HESTERBIO.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

-111.0%

-₹251.63

vs ₹2,280.30 price

Levered DCF

₹643.96

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	18.63×	46.08×	65.14×	48.65×	58.71×	47.35×	26.84×	31.25×
P/B	2.88×	3.84×	4.22×	4.63×	8.88×	7.14×	3.89×	7.32×
P/S	3.12×	3.88×	4.04×	4.87×	9.82×	7.61×	4.27×	7.3×
EV / EBITDA	14.18×	21.78×	25.1×	25.28×	34.32×	24.55×	14.31×	17.9×
Gross margin	50.8%	67.0%	31.9%	70.9%	70.7%	73.7%	73.7%	70.6%
Operating margin	20.4%	14.6%	12.0%	11.7%	53.3%	26.5%	25.6%	35.1%
Net margin	16.7%	8.8%	6.2%	10.0%	16.7%	16.1%	15.9%	23.3%
Current ratio	1.37×	1.56×	2.03×	1.53×	2.01×	2.63×	1.94×	2.93×
Debt / equity	0.54×	0.68×	0.84×	0.98×	0.88×	0.48×	0.63×	0.51×
Interest coverage	6.2×	3.58×	3.87×	5.66×	35.45×	8.6×	6.36×	9.43×
Dividend yield	0.6%	0.4%	0.6%	0.7%	0.4%	0.3%	0.9%	0.8%
Payout ratio	10.8%	18.8%	36.0%	31.9%	21.6%	16.3%	24.6%	24.7%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	15.4%	8.7%	6.5%	9.5%	15.1%	15.1%	14.5%	23.4%
Return on invested capital	8.2%	5.5%	3.9%	4.4%	17.7%	10.6%	10.1%	15.9%
Return on assets	8.2%	4.2%	2.9%	4.0%	7.0%	8.4%	7.6%	13.9%
Free cash flow yield	4.0%	3.6%	1.9%	-4.2%	-3.8%	1.1%	-4.5%	2.0%
Earnings yield	5.4%	2.3%	1.5%	2.1%	1.7%	2.1%	3.7%	3.2%
Enterprise value	₹12.3B	₹14.1B	₹14.6B	₹15.7B	₹25.1B	₹17.2B	₹8.9B	₹13.5B
Net debt / EBITDA	2.21×	3.19×	3.98×	4.36×	2.79×	1.27×	1.67×	0.64×
Cash conversion cycle (days)	212	232	181	381	402	315	450	378