IOL Chemicals and Pharmaceuticals Limited (IOLCP.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

-108.0%

-₹14.14

vs ₹177.28 price

Levered DCF

-₹28.67

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	15.52×	18.53×	16.53×	11.93×	12.39×	7.23×	0.55×	0.95×
P/B	1.19×	5.55×	1.38×	1.1×	1.49×	2.55×	1.23×	2.37×
P/S	0.92×	4.53×	1.05×	0.75×	0.95×	1.65×	0.53×	0.67×
EV / EBITDA	8.2×	41.85×	8.62×	7.08×	7.83×	5.21×	1.76×	3.36×
Gross margin	21.7%	31.6%	12.7%	29.1%	26.2%	42.2%	31.9%	26.0%
Operating margin	8.1%	6.0%	7.5%	7.9%	9.9%	28.4%	28.4%	22.4%
Net margin	5.9%	4.9%	6.3%	6.3%	7.7%	22.8%	19.1%	14.0%
Current ratio	1.78×	1.89×	2×	2.02×	2.11×	3.52×	2.43×	1.89×
Debt / equity	0.08×	0.07×	0.02×	0.05×	0.03×	0×	0.07×	0.6×
Interest coverage	12.97×	8.37×	9.92×	10.54×	26.08×	94.87×	25.71×	7.34×
Dividend yield	1.4%	0.3%	1.3%	1.4%	1.7%	0.7%	2.1%	0.0%
Payout ratio	21.3%	23.2%	21.8%	16.9%	21.0%	5.3%	5.7%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	7.7%	6.0%	8.3%	9.2%	12.0%	35.3%	44.4%	49.9%
Return on invested capital	6.9%	4.8%	6.9%	7.8%	10.8%	32.6%	38.4%	34.1%
Return on assets	5.3%	4.2%	6.0%	6.9%	8.5%	27.6%	30.9%	25.1%
Free cash flow yield	1.8%	-0.4%	0.7%	-5.4%	-2.9%	8.5%	39.0%	18.9%
Earnings yield	6.4%	1.1%	6.0%	8.4%	8.1%	13.8%	36.1%	21.0%
Enterprise value	₹22.1B	₹94B	₹22.5B	₹17.4B	₹21.2B	₹31.8B	₹10.3B	₹14B
Net debt / EBITDA	0.26×	0.17×	0.1×	0.32×	0.15×	-0.05×	0.05×	0.65×
Cash conversion cycle (days)	76	77	72	90	101	81	58	64