Horizon Industrial Parks Limited (HORIZONIND.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

+365.7%

₹203.23

vs ₹43.64 price

Levered DCF

₹160.53

After debt service

Piotroski score

—

Altman Z-score

—

Rating

—

Ratios by fiscal year

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

Metric	FY2025	FY2024	FY2023	FY2022
P/E	-44.12×	-35.71×	-29.41×	-29.13×
P/B	1.48×	3.94×	4.29×	0×
P/S	12.11×	14.5×	17.81×	22.05×
EV / EBITDA	24.05×	37.52×	61.84×	0×
Gross margin	100.0%	100.2%	100.1%	100.0%
Operating margin	41.0%	40.7%	14.7%	12.6%
Net margin	-27.5%	-40.5%	-60.7%	-75.7%
Current ratio	4.28×	0.6×	1.06×	0×
Debt / equity	1.26×	3.26×	2.95×	0×
Interest coverage	0.53×	0.49×	0.17×	0.16×
Dividend yield	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022
Return on equity	-3.4%	-11.0%	-14.6%	0.0%
Return on invested capital	2.1%	2.5%	0.8%	0.0%
Return on assets	-1.4%	-2.3%	-3.2%	0.0%
Free cash flow yield	5.7%	2.9%	1.5%	0.0%
Earnings yield	-2.3%	-2.8%	-3.4%	-3.4%
Enterprise value	₹144.7B	₹145.7B	₹132.5B	₹0
Net debt / EBITDA	10.54×	16.59×	24.66×	0×
Cash conversion cycle (days)	45	857	7,239	0