IRM Energy Limited (IRMENERGY.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

-169.3%

-₹156.05

vs ₹225.30 price

Levered DCF

-₹137.49

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

3.12

Safe zone

Rating

Overall 4 / 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	13.92×	26.84×	19.61×	95.59×	10.85×	36.28×	55.02×	95.39×
P/B	0.74×	1.28×	1.8×	17.44×	5.7×	10.76×	15.5×	28.64×
P/S	0.69×	1.24×	1.89×	6.16×	2.74×	6.7×	6.99×	12.97×
EV / EBITDA	5.09×	13.69×	9.95×	55.73×	8.33×	19.84×	26.11×	50.09×
Gross margin	19.2%	24.5%	25.7%	18.8%	48.2%	55.0%	45.0%	38.9%
Operating margin	6.4%	22.7%	14.0%	9.3%	33.9%	32.6%	37.1%	34.9%
Net margin	5.0%	4.6%	9.6%	6.4%	25.3%	18.5%	12.7%	15.3%
Current ratio	1.83×	2.32×	3.41×	2.4×	1.81×	1.75×	0.95×	0.84×
Debt / equity	0.07×	0.15×	0.25×	0.92×	0.8×	1.44×	2.02×	3.53×
Interest coverage	4.6×	10.01×	4.65×	3.99×	7.76×	3.88×	0×	5.34×
Dividend yield	0.8%	0.8%	0.3%	0.0%	0.3%	0.0%	0.4%	0.0%
Payout ratio	11.6%	21.4%	5.9%	2.3%	2.7%	0.0%	19.6%	0.6%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	5.3%	4.8%	9.2%	18.2%	52.5%	29.7%	28.2%	33.7%
Return on invested capital	4.3%	12.2%	7.6%	9.9%	26.7%	15.1%	17.1%	14.8%
Return on assets	4.1%	3.6%	6.6%	8.0%	23.1%	10.3%	7.9%	6.3%
Free cash flow yield	-4.3%	-3.0%	-3.4%	-1.9%	2.7%	0.8%	-2.7%	-5.8%
Earnings yield	7.2%	3.7%	5.1%	1.0%	9.2%	2.8%	1.8%	1.2%
Enterprise value	₹5.7B	₹13.2B	₹16.5B	₹63.1B	₹15.3B	₹14.1B	₹13B	₹10.7B
Net debt / EBITDA	-1.51×	1.09×	-0.17×	2.39×	0.75×	2.02×	2.8×	5.19×
Cash conversion cycle (days)	-0	9	8	2	-15	-18	-16	-20