Indo Tech Transformers Limited (INDOTECH.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

+40.5%

₹3,692.61

vs ₹2,628.10 price

Levered DCF

₹2,321.97

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

B-

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	FY2019
P/E	12.65×	37.94×	22.52×	7.11×	18.88×	14.59×	40.33×	-13.41×
P/B	3.14×	8.63×	4.86×	1.07×	1.59×	0.69×	0.61×	0.9×
P/S	1.5×	3.96×	2.09×	0.49×	0.82×	0.45×	0.38×	0.53×
EV / EBITDA	8.54×	25.87×	15.94×	5.6×	11.44×	7.28×	14.43×	-34.28×
Gross margin	23.6%	27.1%	29.1%	26.5%	26.8%	29.8%	23.5%	6.1%
Operating margin	14.8%	13.6%	13.8%	8.6%	6.3%	3.5%	-1.3%	-3.4%
Net margin	11.9%	10.4%	9.3%	6.9%	4.3%	3.1%	0.9%	-3.9%
Current ratio	2.58×	2.45×	2.03×	1.96×	2.06×	2.59×	1.95×	2.01×
Debt / equity	0.01×	0.03×	0.02×	0.07×	0×	0×	0×	0×
Interest coverage	52.02×	39.16×	18.76×	3.76×	2.59×	2.36×	-14.68×	-3.09×
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	24.8%	22.8%	21.6%	15.0%	8.4%	4.7%	1.5%	-6.7%
Return on invested capital	22.5%	21.1%	25.3%	17.5%	11.7%	5.2%	-2.1%	-5.8%
Return on assets	16.7%	14.7%	12.3%	8.5%	5.1%	3.4%	1.0%	-4.3%
Free cash flow yield	2.1%	1.6%	2.2%	-6.3%	8.0%	7.9%	-20.2%	14.6%
Earnings yield	7.9%	2.6%	4.4%	14.1%	5.3%	6.9%	2.5%	-7.5%
Enterprise value	₹11.2B	₹23.7B	₹10.4B	₹1.8B	₹2.1B	₹822.9M	₹732M	₹917.6M
Net debt / EBITDA	-0.44×	-0.61×	-0.31×	-0.05×	-1.19×	-0.83×	-0.85×	7.73×
Cash conversion cycle (days)	141	126	135	106	91	116	111	86