India Finsec Limited (IFINSEC.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

-49.9%

₹124.97

vs ₹249.50 price

Levered DCF

-₹737.38

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

2.29

Grey zone

Rating

D+

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	23.63×	20.4×	28.09×	16.87×	15.49×	3.7×	14.49×	19.25×
P/B	2.81×	2.15×	3.13×	0.85×	1.08×	0.35×	0.53×	0.74×
P/S	4.22×	3.49×	3.43×	1.18×	2.76×	1.09×	1.45×	3.48×
EV / EBITDA	21.78×	15.6×	21.38×	23.73×	24.71×	9.45×	12.63×	27.31×
Gross margin	54.2%	48.7%	43.3%	34.4%	46.2%	53.5%	41.3%	64.4%
Operating margin	34.7%	34.2%	25.7%	13.0%	20.9%	33.6%	20.5%	25.0%
Net margin	17.9%	16.8%	12.2%	7.0%	22.7%	21.3%	10.0%	18.1%
Current ratio	3.97×	95.5×	77.98×	64.59×	100.02×	7.61×	174.45×	98.18×
Debt / equity	3.1×	1.74×	2.78×	2.93×	2.13×	0.99×	0.77×	1.05×
Interest coverage	0×	23.7×	25.23×	8.12×	11.61×	84.37×	38.35×	228.38×
Dividend yield	0.0%	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%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	11.9%	10.3%	11.2%	5.0%	8.9%	6.8%	3.6%	3.9%
Return on invested capital	3.7%	4.1%	3.3%	1.5%	1.7%	3.6%	2.6%	1.9%
Return on assets	2.6%	3.2%	2.5%	1.1%	2.9%	2.9%	1.8%	1.9%
Free cash flow yield	0.0%	-12.8%	-7.5%	-176.2%	-81.1%	-36.3%	-16.3%	-119.5%
Earnings yield	4.2%	4.8%	3.6%	5.9%	8.2%	19.6%	6.9%	5.2%
Enterprise value	₹7.1B	₹4.3B	₹4B	₹2.2B	₹1.8B	₹659.5M	₹599.1M	₹750.6M
Net debt / EBITDA	10.59×	6.73×	9.98×	18.26×	16.26×	6.82×	7.22×	14.59×
Cash conversion cycle (days)	1,949	1,711	1,615	2,072	2,404	2,093	1,701	2,933