The Hi-Tech Gears Limited (HITECHGEAR.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

+39.2%

₹696.07

vs ₹500.00 price

Levered DCF

₹898.65

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

—

Rating

Overall 2 / 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	49.13×	28.32×	13.24×	20.5×	-364.15×	11.26×	17.87×	15.49×
P/B	1.97×	2.36×	3.25×	1.34×	1.22×	1.01×	0.54×	2.03×
P/S	1.13×	1.24×	1.37×	0.41×	0.42×	0.44×	0.21×	0.62×
EV / EBITDA	10.45×	9.04×	7.59×	6.39×	9.27×	7.29×	5.07×	7.52×
Gross margin	22.7%	12.4%	47.9%	38.8%	38.6%	41.2%	45.5%	42.5%
Operating margin	3.7%	7.9%	30.1%	5.2%	3.2%	6.6%	6.2%	8.6%
Net margin	2.3%	4.4%	10.3%	2.0%	-0.1%	3.9%	1.2%	4.0%
Current ratio	2.01×	1.86×	1.42×	1.16×	1.2×	1.35×	1.43×	1.35×
Debt / equity	0.35×	0.42×	0.64×	1.29×	1.42×	1.33×	1.28×	1.62×
Interest coverage	2.27×	3.39×	8.82×	1.82×	1.17×	2.1×	1.42×	2.93×
Dividend yield	0.9%	0.8%	0.3%	0.6%	0.9%	0.0%	5.4%	1.4%
Payout ratio	44.8%	23.3%	4.1%	12.2%	-340.7%	0.0%	95.7%	22.3%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	4.0%	8.3%	24.5%	6.5%	-0.3%	9.0%	3.0%	13.1%
Return on invested capital	3.0%	6.7%	35.8%	5.0%	-0.4%	5.5%	3.0%	6.4%
Return on assets	2.5%	5.0%	12.6%	2.3%	-0.1%	3.1%	1.0%	4.1%
Free cash flow yield	4.0%	10.9%	5.5%	5.2%	-1.1%	-6.6%	82.7%	-12.9%
Earnings yield	2.0%	3.5%	7.6%	4.9%	-0.3%	8.9%	5.6%	6.5%
Enterprise value	₹12.1B	₹13.3B	₹18B	₹9B	₹8.1B	₹7B	₹4.6B	₹9.4B
Net debt / EBITDA	1.53×	1.29×	1.2×	3.02×	4.67×	3.91×	3.44×	3.13×
Cash conversion cycle (days)	90	79	77	70	53	55	39	80