IKIO Technologies Limited (IKIO.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

-145.8%

-₹76.52

vs ₹167.13 price

Levered DCF

-₹173.01

After debt service

Piotroski score

4 / 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
P/E	21.95×	58.73×	36.18×	52.45×	19.98×	35.06×	47.18×
P/B	1.38×	3.24×	3.96×	18.47×	9.45×	16.59×	28.12×
P/S	1.39×	3.74×	5×	7.32×	3.04×	4.73×	4.58×
EV / EBITDA	11.33×	24.72×	22.27×	36.13×	14.12×	22.53×	27.24×
Gross margin	20.4%	42.1%	40.1%	35.5%	41.6%	43.2%	23.4%
Operating margin	7.8%	7.3%	28.1%	20.3%	21.9%	21.4%	15.5%
Net margin	6.4%	6.4%	13.8%	13.9%	15.2%	13.5%	9.7%
Current ratio	3.15×	4.55×	5.74×	1.36×	1.76×	1.63×	1.08×
Debt / equity	0.12×	0.09×	0.13×	0.86×	1.09×	1.34×	1.63×
Interest coverage	5.69×	4.27×	10.9×	8.08×	14.51×	10.54×	7.28×
Dividend yield	0.0%	0.4%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	25.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Return on equity	6.3%	5.5%	11.0%	35.2%	47.3%	47.3%	59.6%
Return on invested capital	5.4%	4.4%	14.1%	20.8%	23.3%	23.0%	25.8%
Return on assets	4.9%	4.6%	9.2%	16.1%	19.1%	16.5%	14.8%
Free cash flow yield	-7.6%	-3.4%	-4.1%	1.4%	-2.4%	-1.5%	0.9%
Earnings yield	4.6%	1.7%	2.8%	1.9%	5.0%	2.9%	2.1%
Enterprise value	₹8.8B	₹18.6B	₹22.5B	₹27.5B	₹11.2B	₹10.9B	₹10.6B
Net debt / EBITDA	0.62×	0.54×	0.56×	1.58×	1.43×	1.62×	1.31×
Cash conversion cycle (days)	202	221	225	226	224	179	66