Himatsingka Seide Limited (HIMATSEIDE.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

+374.0%

₹265.13

vs ₹55.93 price

Levered DCF

-₹139.97

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	14.73×	21.98×	11.82×	-10.61×	10.52×	-26.73×	44.11×	11.27×
P/B	0.43×	0.94×	0.86×	0.47×	1.01×	1.08×	0.43×	1.56×
P/S	0.36×	0.69×	0.47×	0.25×	0.5×	0.67×	0.27×	0.9×
EV / EBITDA	9.52×	9×	7.38×	9.38×	7.62×	12.4×	8.77×	8.41×
Gross margin	27.9%	34.6%	56.6%	142.4%	40.1%	40.1%	46.9%	45.7%
Operating margin	8.0%	13.1%	7.9%	31.0%	4.0%	7.0%	13.3%	17.8%
Net margin	2.5%	2.7%	4.0%	-2.4%	4.8%	-2.5%	0.6%	8.0%
Current ratio	1.4×	1.39×	1.24×	1.07×	1.1×	0.86×	0.98×	1.14×
Debt / equity	1.23×	1.26×	1.86×	1.94×	1.99×	1.97×	2.18×	1.96×
Interest coverage	0.69×	1.15×	0.76×	3.24×	0.66×	0.84×	1.55×	2.77×
Dividend yield	0.3%	0.1%	0.0%	0.7%	0.3%	0.3%	10.1%	1.3%
Payout ratio	4.8%	3.2%	0.0%	-7.7%	3.5%	-9.2%	449.0%	15.1%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	2.9%	3.7%	7.2%	-4.4%	9.6%	-4.1%	1.0%	13.9%
Return on invested capital	2.1%	7.7%	3.2%	15.4%	1.6%	3.5%	1.0%	6.2%
Return on assets	1.1%	1.3%	1.9%	-1.2%	2.5%	-1.0%	0.3%	3.8%
Free cash flow yield	-17.3%	-7.1%	20.5%	50.6%	-5.4%	31.5%	32.9%	-10.2%
Earnings yield	6.8%	4.0%	8.5%	-9.4%	9.5%	-3.7%	2.3%	8.9%
Enterprise value	₹34.7B	₹43.6B	₹42B	₹34.3B	₹42.9B	₹39.5B	₹35B	₹48.4B
Net debt / EBITDA	7.02×	5.06×	5.03×	7.52×	4.98×	7.93×	7.3×	4.56×
Cash conversion cycle (days)	249	175	209	138	186	141	273	242