Handson Global Management (HGM) Limited (HGM.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

+514.3%

₹240.79

vs ₹39.20 price

Levered DCF

-₹120.76

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

1.54

Distress zone

Rating

C-

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	-19.66×	13.64×	18.58×	19.6×	12.09×	34.85×	11.23×	1,106.07×
P/B	2.95×	2.39×	3.43×	2.33×	1.85×	0.78×	0.85×	0.44×
P/S	1.01×	2.56×	3.49×	3.26×	4.58×	7.77×	2.63×	18.47×
EV / EBITDA	28.86×	8.62×	17.08×	7.75×	15.16×	19.73×	8.29×	100.96×
Gross margin	15.7%	11.9%	17.3%	19.6%	24.2%	45.9%	43.2%	33.9%
Operating margin	-6.1%	11.9%	11.1%	12.9%	15.9%	18.4%	22.2%	18.4%
Net margin	-5.1%	18.8%	18.8%	16.7%	37.9%	22.3%	23.4%	6.4%
Current ratio	1.16×	1.59×	1.93×	1.11×	0.78×	0.74×	0.84×	2.66×
Debt / equity	1.15×	0.06×	0.05×	0.06×	0.1×	0.03×	0.13×	0.01×
Interest coverage	-3.32×	15.61×	19.44×	11.85×	8.4×	4.39×	2.11×	3.52×
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	-15.0%	17.5%	18.5%	11.9%	15.3%	2.2%	7.6%	0.2%
Return on invested capital	-8.2%	9.3%	7.9%	6.2%	4.8%	3.8%	1.8%	0.2%
Return on assets	-4.2%	10.7%	10.7%	7.1%	10.1%	4.7%	2.2%	0.1%
Free cash flow yield	-9.5%	-1.2%	-0.9%	2.9%	3.4%	0.2%	5.8%	1.3%
Earnings yield	-5.1%	7.3%	5.4%	5.1%	8.3%	2.9%	8.9%	0.3%
Enterprise value	₹773.9M	₹514.3M	₹754.1M	₹496.1M	₹534.8M	₹766.7M	₹308.6M	₹2B
Net debt / EBITDA	6.42×	-1.03×	-0.68×	-0.46×	-0.51×	0.42×	0.54×	1.26×
Cash conversion cycle (days)	128	209	224	171	130	162	128	159