Innova Captab Limited (INNOVACAP.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

-208.4%

-₹1,073.34

vs ₹990.40 price

Levered DCF

-₹856.76

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

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	28.01×	39.84×	24.13×	38.23×	48.43×	1.88×	93.18×	88.61×
P/B	3.62×	5.33×	2.74×	11.2×	14.85×	21.39×	0×	101.54×
P/S	2.46×	4.11×	2.11×	3.34×	3.87×	7.56×	6.96×	6.28×
EV / EBITDA	20.43×	29.18×	15.05×	27.04×	33.38×	56.19×	30.88×	48.74×
Gross margin	32.6%	34.5%	31.8%	25.3%	21.7%	14.9%	23.5%	23.3%
Operating margin	10.3%	25.2%	12.9%	11.2%	11.1%	11.8%	18.1%	10.9%
Net margin	8.8%	10.3%	8.8%	7.3%	8.0%	8.4%	7.5%	7.1%
Current ratio	1.87×	1.99×	2.18×	1.59×	1.29×	1.26×	0×	0.79×
Debt / equity	0.32×	0.35×	0.29×	0.86×	0.95×	0.31×	0×	2.81×
Interest coverage	9.74×	130.06×	6.46×	5.17×	15.99×	12.26×	10.77×	8.16×
Dividend yield	0.3%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	8.1%	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	12.9%	13.4%	11.4%	24.6%	30.7%	23.8%	0.0%	114.6%
Return on invested capital	8.4%	17.8%	9.3%	10.6%	16.1%	18.5%	92.1%	33.2%
Return on assets	7.7%	8.1%	7.1%	6.7%	11.1%	9.3%	0.0%	10.6%
Free cash flow yield	0.9%	-2.1%	-6.2%	-0.4%	-0.7%	0.7%	1.0%	0.3%
Earnings yield	3.6%	2.5%	4.1%	2.2%	2.1%	1.1%	1.1%	1.1%
Enterprise value	₹42.9B	₹54.3B	₹25.1B	₹33.2B	₹33B	₹31.4B	₹26B	₹31.8B
Net debt / EBITDA	1.62×	1.73×	1.4×	1.82×	2.01×	0.73×	0×	1.3×
Cash conversion cycle (days)	88	100	80	86	89	102	-52	77