Insolation Energy Ltd. (INA.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

-2871.6%

-₹1,911.84

vs ₹68.98 price

Levered DCF

-₹2,340.90

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

C+

Overall 2 / 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	9.02×	43.43×	5.89×	2.1×	1.73×	1.74×	3.88×
P/B	2.24×	7.43×	3.02×	0.42×	0.54×	0.79×	1.44×
P/S	0.84×	3.44×	0.44×	0.08×	0.06×	0.07×	0.14×
EV / EBITDA	7.57×	25.73×	4.28×	3.5×	2.66×	2.57×	3.34×
Gross margin	16.0%	17.4%	16.9%	8.7%	8.9%	9.9%	11.3%
Operating margin	11.7%	11.4%	9.9%	5.9%	5.6%	6.8%	6.8%
Net margin	9.3%	9.5%	7.5%	3.8%	3.2%	4.2%	3.5%
Current ratio	1.86×	2.55×	1.64×	1.67×	1.48×	1.48×	1.55×
Debt / equity	1.1×	0.18×	0.89×	1.28×	1.41×	1.38×	1.49×
Interest coverage	10.68×	20.75×	7.63×	5.26×	4.89×	5.29×	3.85×
Dividend yield	0.1%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	1.1%	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	24.8%	20.5%	51.2%	20.2%	31.4%	45.4%	37.3%
Return on invested capital	11.6%	16.9%	28.8%	10.3%	16.4%	22.2%	19.2%
Return on assets	9.3%	14.9%	21.1%	6.7%	10.0%	13.7%	11.7%
Free cash flow yield	-29.2%	0.6%	3.9%	-194.9%	-22.5%	-77.6%	3.6%
Earnings yield	11.1%	2.8%	17.0%	47.7%	58.0%	57.5%	25.8%
Enterprise value	₹21.7B	₹43.8B	₹3.6B	₹675.2M	₹366.7M	₹328.5M	₹243.1M
Net debt / EBITDA	1.28×	-1.21×	0.44×	2.34×	1.79×	1.64×	1.69×
Cash conversion cycle (days)	67	37	55	81	52	69	56