Hemant Surgical Industries Ltd. (HSIL.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

-141.6%

-₹246.30

vs ₹592.00 price

Levered DCF

-₹551.47

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

5.57

Safe zone

Rating

Overall 3 / 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
P/E	14.13×	13.25×	14.8×	16.93×	64.73×	153×	350.63×
P/B	1.87×	1.69×	2.64×	5.53×	14.85×	18.27×	24.33×
P/S	1.11×	1×	1.37×	1.18×	1.7×	2.94×	3.12×
EV / EBITDA	11.32×	9.08×	10.12×	10.29×	21.99×	47.77×	63.35×
Gross margin	18.0%	29.0%	17.8%	18.1%	13.0%	12.2%	14.1%
Operating margin	9.4%	7.1%	8.9%	9.0%	4.6%	4.9%	5.3%
Net margin	7.8%	7.5%	9.3%	7.0%	2.6%	1.9%	0.9%
Current ratio	1.45×	1.45×	1.83×	1.24×	1.03×	1.13×	0.98×
Debt / equity	0.36×	0.49×	0.12×	0.3×	0.73×	1.5×	1.92×
Interest coverage	5.47×	3.43×	9.72×	4.93×	1.37×	1.61×	1.87×
Dividend yield	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%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	13.2%	12.7%	17.9%	32.7%	23.0%	11.9%	6.9%
Return on invested capital	8.9%	6.1%	11.7%	24.0%	18.2%	9.0%	8.3%
Return on assets	6.6%	5.4%	10.1%	11.8%	5.1%	2.7%	1.1%
Free cash flow yield	-14.2%	-27.0%	-8.3%	0.5%	6.6%	-2.5%	-1.4%
Earnings yield	7.1%	7.5%	6.8%	5.9%	1.5%	0.7%	0.3%
Enterprise value	₹2.6B	₹1.3B	₹1.5B	₹1.3B	₹1.8B	₹1.9B	₹1.9B
Net debt / EBITDA	0.25×	1.52×	0.31×	0.27×	0.54×	3.42×	3.83×
Cash conversion cycle (days)	83	116	81	25	29	125	36