Indo Farm Equipment Ltd. (INDOFARM.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

-59.2%

₹48.43

vs ₹118.79 price

Levered DCF

₹3.95

After debt service

Piotroski score

4 / 9

Average

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	FY2018
P/E	21.61×	28.92×	85.26×	85.53×	95.7×	121.1×	208.92×	93.73×
P/B	0.96×	1.28×	4.15×	4.53×	4.79×	3.94×	4.05×	5.41×
P/S	1.21×	1.76×	3.51×	3.55×	3.74×	3.84×	4.19×	3.21×
EV / EBITDA	9.44×	13.62×	25.9×	28.19×	31.42×	31.24×	35.85×	31.37×
Gross margin	25.6%	39.2%	39.0%	37.2%	41.0%	44.7%	44.6%	42.4%
Operating margin	10.4%	12.6%	14.1%	13.5%	12.8%	31.9%	28.9%	26.0%
Net margin	5.6%	6.1%	4.1%	4.2%	3.9%	3.2%	2.0%	3.4%
Current ratio	2.93×	2.79×	1.5×	1.43×	1.43×	1.47×	1.48×	1.49×
Debt / equity	0.27×	0.33×	0.86×	0.97×	1×	0.9×	0.78×	0.91×
Interest coverage	2.63×	2.28×	1.99×	1.97×	2.02×	0×	0×	0×
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	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	4.4%	4.4%	4.9%	5.3%	5.0%	3.3%	1.9%	5.8%
Return on invested capital	4.5%	6.2%	5.7%	6.0%	5.8%	12.2%	9.5%	18.9%
Return on assets	3.2%	3.1%	2.4%	2.5%	2.2%	1.5%	1.0%	2.7%
Free cash flow yield	-2.2%	0.0%	2.4%	1.6%	-1.3%	-1.4%	-2.4%	-6.7%
Earnings yield	4.6%	3.5%	1.2%	1.2%	1.0%	0.8%	0.5%	1.1%
Enterprise value	₹6.1B	₹7.9B	₹15.7B	₹15.9B	₹15.9B	₹12.6B	₹12.2B	₹11.8B
Net debt / EBITDA	1.18×	1.95×	4.25×	4.93×	5.4×	5.78×	5.73×	4.46×
Cash conversion cycle (days)	309	415	309	281	338	363	398	318