Himalaya Food International Ltd. (HFIL.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

+177.3%

₹21.88

vs ₹7.89 price

Levered DCF

-₹12.64

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

1.43

Distress zone

Rating

D+

Overall 1 / 5

Ratios by fiscal year

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

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	16.89×	14.68×	27.05×	-4.72×	1.31×	44.89×	11.55×	-1.64×
P/B	0.36×	0.4×	0.96×	0.86×	0.71×	1.84×	1.92×	2.18×
P/S	1.58×	1.43×	2.85×	1.67×	1.83×	2.03×	1.45×	1.25×
EV / EBITDA	8.71×	5.95×	15.67×	-9.72×	1.82×	24.79×	14.5×	-5.26×
Gross margin	36.0%	52.0%	54.5%	48.6%	35.7%	22.1%	20.5%	-34.5%
Operating margin	7.0%	7.4%	9.4%	21.7%	13.9%	-0.8%	5.6%	-54.3%
Net margin	9.4%	9.7%	10.5%	-35.4%	152.2%	4.5%	12.6%	-76.2%
Current ratio	1.7×	1.1×	0.82×	0.5×	0.57×	3.37×	0.44×	0.45×
Debt / equity	0.11×	0×	0.31×	0.45×	0.44×	2.92×	3.04×	3.5×
Interest coverage	19.79×	74.5×	6.52×	44.94×	37.78×	-1.87×	15.79×	-25.26×
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	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	2.1%	2.7%	3.5%	-18.2%	59.2%	4.1%	16.6%	-132.6%
Return on invested capital	1.4%	1.8%	2.2%	7.2%	3.6%	-0.2%	1.7%	-19.9%
Return on assets	1.8%	1.8%	2.3%	-10.8%	36.8%	0.9%	3.7%	-26.3%
Free cash flow yield	-49.0%	7.5%	-5.1%	3.0%	-0.3%	1.0%	5.0%	1.9%
Earnings yield	5.9%	6.8%	3.7%	-21.2%	83.3%	2.2%	8.7%	-60.8%
Enterprise value	₹814.1M	₹567.1M	₹1.8B	₹1.7B	₹1.9B	₹3B	₹2.9B	₹3B
Net debt / EBITDA	2.01×	-0.06×	3.85×	-3.33×	0.7×	15.2×	8.88×	-3.24×
Cash conversion cycle (days)	420	418	253	90	224	166	126	101