Indian Sucrose Limited (INDSUCR.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

+331.4%

₹313.62

vs ₹72.70 price

Levered DCF

₹156.01

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

—

Rating

A-

Overall 4 / 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	4×	4.15×	4.54×	3.28×	3.05×	1.57×	2×	5.82×
P/B	0.43×	0.62×	0.69×	0.54×	0.75×	0.32×	0.28×	0.3×
P/S	0.24×	0.29×	0.28×	0.22×	0.28×	0.08×	0.05×	0.07×
EV / EBITDA	3.11×	2.65×	4.2×	3.92×	4.35×	4.2×	3.3×	3.77×
Gross margin	23.5%	28.7%	26.0%	15.7%	18.2%	22.0%	18.4%	20.3%
Operating margin	13.0%	11.5%	11.1%	12.6%	13.0%	10.5%	13.2%	12.6%
Net margin	6.1%	7.0%	6.2%	6.6%	9.1%	5.2%	2.4%	1.2%
Current ratio	1.43×	1.28×	1.16×	1.07×	1.04×	1.02×	1.03×	0.99×
Debt / equity	0.66×	0.82×	0.97×	1.23×	1.19×	1.84×	1.72×	2.11×
Interest coverage	2.92×	2.51×	2.18×	2.29×	2.79×	2.51×	2.78×	2.09×
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	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	10.7%	14.9%	15.3%	16.5%	24.6%	20.2%	13.8%	5.1%
Return on invested capital	9.3%	9.2%	9.8%	9.7%	14.4%	9.9%	16.8%	8.5%
Return on assets	4.9%	5.9%	5.6%	5.2%	7.4%	4.6%	2.7%	0.9%
Free cash flow yield	-43.0%	37.4%	29.9%	25.6%	43.8%	-279.9%	564.4%	82.2%
Earnings yield	25.0%	24.1%	22.0%	30.5%	32.8%	63.9%	50.0%	17.2%
Enterprise value	₹2.4B	₹2.3B	₹3.5B	₹3B	₹2.8B	₹2.4B	₹1.7B	₹2B
Net debt / EBITDA	1.53×	0.84×	2.4×	2.61×	2.58×	3.58×	2.82×	3.29×
Cash conversion cycle (days)	171	117	188	172	149	134	71	151