J.A. Finance Ltd (JAFINANCE.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

-78.5%

₹31.13

vs ₹145.00 price

Levered DCF

₹8.06

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

35.5

Safe zone

Rating

D+

Overall 1 / 5

Ratios by fiscal year

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

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	156.04×	-2,389.16×	30.53×	87.5×	20.91×	-6,045.45×	12×	17.32×
P/B	4.05×	5.34×	1.55×	1.87×	1.91×	0.75×	0.75×	0.77×
P/S	29.99×	49.62×	10.64×	14.7×	11.11×	7.52×	8.11×	7.31×
EV / EBITDA	108.61×	101.24×	28.03×	68.77×	20.85×	21.83×	12.58×	15.68×
Gross margin	42.7%	54.6%	48.0%	48.3%	67.1%	56.6%	54.2%	61.8%
Operating margin	28.4%	50.8%	44.1%	25.9%	60.3%	45.2%	79.3%	54.2%
Net margin	19.4%	-2.1%	34.9%	16.8%	53.2%	-0.1%	67.7%	42.1%
Current ratio	11.8×	567.67×	1.81×	1.66×	2.39×	1.62×	2.09×	1.19×
Debt / equity	0.12×	0.2×	0.36×	0.43×	0.25×	0.24×	0.17×	0.12×
Interest coverage	0×	0×	3,202.5×	2,076.33×	4,808×	319.68×	0×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.3%	0.3%	0.0%	0.4%
Payout ratio	0.0%	0.0%	0.0%	0.0%	6.3%	-1813.6%	0.0%	6.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	2.6%	-0.2%	5.1%	2.1%	9.1%	-0.0%	6.3%	4.4%
Return on invested capital	2.3%	-0.2%	3.7%	1.5%	7.2%	-0.0%	5.3%	3.9%
Return on assets	2.3%	-0.2%	3.7%	1.5%	7.2%	-0.0%	5.3%	3.8%
Free cash flow yield	3.1%	-1.0%	12.2%	-4.6%	0.4%	-5.5%	-4.7%	2.5%
Earnings yield	0.6%	-0.0%	3.3%	1.1%	4.8%	-0.0%	8.3%	5.8%
Enterprise value	₹859.9M	₹1.1B	₹359.4M	₹429.2M	₹401.1M	₹174.5M	₹163.2M	₹154.3M
Net debt / EBITDA	3.03×	3.6×	3.94×	12.04×	2.45×	5.22×	2.35×	2.18×
Cash conversion cycle (days)	2,854	3,867	655	-0	0	1,417	0	0