IFCI Limited (IFCI.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

-73.6%

₹15.27

vs ₹57.92 price

Levered DCF

₹8.79

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

C-

Overall 1 / 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	69.39×	68.03×	99.05×	-10.32×	-1.27×	-1.17×	-2.98×	-4.88×
P/B	1.4×	1.34×	2.26×	0.57×	0.83×	0.61×	0.13×	0.44×
P/S	5.88×	5.95×	5.09×	1.33×	1.3×	1.13×	0.27×	0.89×
EV / EBITDA	14.71×	11.81×	12.73×	42.87×	-4.78×	-5.29×	-796.2×	-26.8×
Gross margin	67.2%	72.6%	71.7%	60.3%	47.5%	43.2%	41.9%	32.8%
Operating margin	37.3%	38.3%	37.2%	1.6%	-84.8%	-103.2%	-3.8%	-25.9%
Net margin	8.5%	8.7%	5.1%	-12.9%	-101.9%	-96.1%	-9.2%	-18.2%
Current ratio	18.18×	13.37×	10.9×	13.66×	1.06×	6.09×	10.79×	0.55×
Debt / equity	0.39×	0.43×	1.18×	1.6×	2.54×	2.97×	2.41×	3.06×
Interest coverage	0×	1.4×	1.31×	0.04×	-1.62×	-1.82×	-0.06×	-0.39×
Dividend yield	1.2%	0.7%	0.7%	1.6%	1.1%	0.3%	0.6%	0.4%
Payout ratio	82.2%	49.5%	69.1%	-16.8%	-1.5%	-0.4%	-1.8%	-1.9%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	2.0%	2.0%	2.3%	-5.5%	-65.0%	-51.9%	-4.4%	-9.1%
Return on invested capital	2.5%	1.4%	0.8%	-0.4%	-7.0%	-5.4%	-0.3%	-1.5%
Return on assets	0.7%	0.7%	0.5%	-1.2%	-11.8%	-9.5%	-1.0%	-1.9%
Free cash flow yield	12.9%	-8.9%	-0.3%	-18.7%	-12.3%	-24.0%	86.8%	16.7%
Earnings yield	1.4%	1.5%	1.0%	-9.7%	-78.5%	-85.3%	-33.6%	-20.5%
Enterprise value	₹89.7B	₹98.3B	₹105.9B	₹42.9B	₹69.7B	₹106.4B	₹102.7B	₹169.4B
Net debt / EBITDA	-5.87×	-2.16×	0.39×	21.43×	-3.18×	-4.16×	-743×	-23.03×
Cash conversion cycle (days)	-199	-253	-70	49	-256	-450	-175	-165