ITCONS E-Solutions Limited (ITCONS.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

-240.2%

-₹322.42

vs ₹229.95 price

Levered DCF

-₹1,067.33

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

7.25

Safe zone

Rating

Overall 3 / 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	30.99×	79.71×	13.85×	9.25×	19.27×	189.73×	133.32×	129.82×
P/B	2.7×	6.98×	1.9×	1.31×	6.85×	13.7×	14.56×	16.39×
P/S	1.86×	4.63×	0.93×	0.57×	0.84×	1.72×	1.69×	1.46×
EV / EBITDA	22.52×	49.59×	7.15×	4.07×	9.1×	72.56×	39.49×	54.25×
Gross margin	20.9%	35.9%	20.8%	18.9%	34.8%	12.7%	23.8%	20.4%
Operating margin	5.5%	6.7%	9.4%	8.3%	9.6%	10.6%	20.8%	20.3%
Net margin	6.0%	5.8%	6.7%	6.1%	7.1%	0.9%	1.3%	1.1%
Current ratio	2.25×	2×	2.86×	5.39×	1.61×	1.36×	1.31×	0.97×
Debt / equity	0.06×	0.1×	0.13×	0×	0.48×	1.31×	1.54×	1.3×
Interest coverage	7.94×	11.99×	22.01×	11.73×	15.11×	10.69×	0×	49.65×
Dividend yield	0.1%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	1.9%	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	8.7%	8.8%	13.7%	14.2%	57.8%	7.2%	10.9%	12.7%
Return on invested capital	6.4%	6.6%	11.6%	14.6%	40.7%	27.3%	32.3%	70.0%
Return on assets	7.0%	6.5%	9.9%	11.9%	27.7%	2.2%	3.0%	3.4%
Free cash flow yield	-11.5%	-9.1%	-11.8%	-7.9%	-0.1%	3.8%	-10.1%	5.9%
Earnings yield	3.2%	1.3%	7.2%	10.8%	8.4%	0.5%	0.8%	0.8%
Enterprise value	₹1.6B	₹2.6B	₹242.4M	₹107.7M	₹161.8M	₹150.7M	₹152.6M	₹151.5M
Net debt / EBITDA	0.18×	0.18×	-0.64×	-1.96×	0.51×	3.78×	3.01×	3.67×
Cash conversion cycle (days)	95	117	136	90	44	60	62	61