Inani Marbles and Industries Limited (INANI.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

-585.1%

-₹50.30

vs ₹10.37 price

Levered DCF

₹14.46

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

B-

Overall 3 / 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	88.4×	42.69×	25.58×	71.27×	12.97×	18.46×	-30.05×	43.4×
P/B	0.3×	0.56×	0.76×	0.77×	0.83×	0.58×	0.22×	0.86×
P/S	0.35×	0.7×	0.72×	0.55×	0.52×	0.46×	0.29×	1.02×
EV / EBITDA	8.17×	9.13×	8.49×	9.88×	7.28×	7.43×	15.43×	10.84×
Gross margin	15.0%	18.6%	47.7%	30.1%	28.9%	31.3%	28.0%	36.2%
Operating margin	2.3%	4.1%	36.8%	-2.4%	5.1%	52.5%	-9.3%	7.6%
Net margin	0.4%	1.7%	2.8%	0.8%	4.0%	2.5%	-1.0%	2.3%
Current ratio	1.87×	1.83×	1.89×	1.73×	1.5×	1.65×	1.51×	1.68×
Debt / equity	0.39×	0.41×	0.44×	0.55×	0.57×	0.61×	0.63×	0.4×
Interest coverage	0.63×	0.89×	8.39×	-0.64×	1.69×	12.54×	-1.38×	1.38×
Dividend yield	0.5%	0.2%	0.2%	0.2%	0.2%	0.2%	0.7%	0.2%
Payout ratio	40.7%	10.5%	4.7%	13.2%	2.3%	4.3%	-20.8%	7.6%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	0.3%	1.3%	3.0%	1.1%	6.4%	3.2%	-0.7%	2.0%
Return on invested capital	1.3%	1.5%	20.9%	-1.3%	3.9%	30.1%	-2.8%	3.9%
Return on assets	0.2%	0.8%	1.8%	0.6%	3.1%	1.6%	-0.4%	1.1%
Free cash flow yield	1.2%	4.3%	15.8%	6.5%	-0.0%	-8.5%	-83.7%	8.7%
Earnings yield	1.1%	2.3%	3.9%	1.4%	7.7%	5.4%	-3.4%	2.3%
Enterprise value	₹369.5M	₹519.4M	₹635.6M	₹682.5M	₹711.5M	₹565.2M	₹360.2M	₹538M
Net debt / EBITDA	4.6×	3.84×	3.09×	4.12×	2.96×	3.75×	11.45×	3.3×
Cash conversion cycle (days)	355	403	361	238	185	255	398	353