Innokaiz India Ltd. (INNOKAIZ.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

+84.6%

₹21.23

vs ₹11.50 price

Levered DCF

-₹19.91

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

0.65

Distress zone

Rating

—

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	-3.38×	26.47×	12.64×	14.16×	22.01×	30.94×
P/B	0.31×	1.16×	4.12×	6.08×	10.66×	20.67×
P/S	1.45×	0.72×	0.5×	0.39×	0.61×	0.81×
EV / EBITDA	-9.09×	16.08×	8.93×	9.56×	14.95×	20.98×
Gross margin	15.2%	8.7%	7.0%	4.4%	5.1%	4.8%
Operating margin	-41.2%	4.5%	5.3%	3.8%	3.8%	3.6%
Net margin	-42.9%	2.7%	4.0%	2.8%	2.8%	2.6%
Current ratio	2.18×	2.89×	1.82×	1.49×	1.29×	1.31×
Debt / equity	0.45×	0.39×	0.02×	0.07×	0.1×	0.2×
Interest coverage	-9.12×	2.7×	111.69×	67.47×	47.06×	5,506.78×
Dividend yield	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%

Key metrics by fiscal year

Metric	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-9.3%	4.4%	32.6%	43.0%	48.4%	66.7%
Return on invested capital	-6.1%	3.9%	31.1%	40.9%	45.2%	56.1%
Return on assets	-4.7%	2.5%	15.8%	15.9%	13.2%	14.1%
Free cash flow yield	-9.9%	-32.0%	-0.8%	1.9%	0.4%	6.1%
Earnings yield	-29.5%	3.8%	7.9%	7.1%	4.5%	3.2%
Enterprise value	₹309.4M	₹715.5M	₹1.1B	₹1.1B	₹1.1B	₹1B
Net debt / EBITDA	-5.04×	3.55×	-0.22×	-0.61×	-0.78×	-1.58×
Cash conversion cycle (days)	1,520	110	-1	3	4	-5