Hindustan Tin Works Limited (HINDTIN.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

-30.3%

₹73.81

vs ₹105.90 price

Levered DCF

₹141.30

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

—

Rating

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	10.36×	12.52×	10.31×	5.74×	5.55×	4.67×	4.11×	7.74×
P/B	0.39×	0.68×	0.86×	0.5×	0.47×	0.41×	0.21×	0.42×
P/S	0.2×	0.36×	0.42×	0.2×	0.21×	0.21×	0.11×	0.19×
EV / EBITDA	5.72×	7.15×	6.61×	5.24×	4.95×	4.62×	4.73×	6.12×
Gross margin	12.4%	12.6%	26.4%	21.4%	11.4%	26.4%	16.8%	16.7%
Operating margin	4.0%	4.4%	6.2%	5.1%	6.3%	7.7%	4.3%	16.4%
Net margin	2.0%	3.0%	4.0%	3.6%	3.7%	4.5%	2.7%	2.5%
Current ratio	2.09×	2.35×	2.58×	2.67×	1.97×	1.91×	1.96×	1.67×
Debt / equity	0.32×	0.36×	0.4×	0.39×	0.47×	0.54×	0.45×	0.71×
Interest coverage	1.7×	2.66×	3.48×	3×	3.2×	2.81×	1.26×	4.78×
Dividend yield	1.0%	0.8%	0.7%	1.3%	1.5%	0.9%	4.0%	2.1%
Payout ratio	10.0%	10.0%	7.2%	7.6%	8.2%	4.3%	16.3%	15.9%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	3.7%	5.7%	8.3%	8.7%	8.5%	8.8%	5.0%	5.5%
Return on invested capital	4.0%	4.6%	6.6%	6.4%	6.9%	7.2%	5.3%	12.6%
Return on assets	2.3%	3.6%	5.4%	5.7%	4.9%	4.9%	2.9%	2.8%
Free cash flow yield	8.6%	2.8%	-2.0%	14.4%	15.3%	-22.1%	137.8%	28.7%
Earnings yield	9.7%	8.3%	9.7%	17.4%	18.0%	21.4%	24.4%	12.9%
Enterprise value	₹1.5B	₹2.2B	₹2.6B	₹1.7B	₹1.7B	₹1.6B	₹978M	₹1.6B
Net debt / EBITDA	2.54×	2.44×	2.09×	2.26×	2.43×	2.6×	3.22×	3.77×
Cash conversion cycle (days)	120	131	162	136	166	194	168	164