Jagan Lamps Limited (JAGANLAM.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

+46.7%

₹75.44

vs ₹51.43 price

Levered DCF

-₹12.48

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

—

Rating

C+

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	15.01×	18.41×	27.55×	13.12×	17.94×	10.4×	6.73×	8.93×
P/B	0.82×	1.57×	2.67×	1.28×	1.69×	1.01×	0.59×	0.49×
P/S	0.68×	1.05×	1.58×	0.75×	0.96×	0.7×	0.49×	0.47×
EV / EBITDA	7.01×	10.1×	15.62×	7.45×	10.17×	5.41×	3.36×	3.72×
Gross margin	14.6%	26.7%	25.4%	26.1%	22.7%	29.3%	36.3%	35.2%
Operating margin	6.9%	8.2%	6.8%	7.0%	6.6%	9.1%	7.7%	6.2%
Net margin	4.6%	5.7%	5.7%	5.7%	5.3%	6.8%	7.3%	5.2%
Current ratio	2.54×	2×	2.44×	2×	1.8×	1.56×	1.21×	0.79×
Debt / equity	0.12×	0.28×	0.18×	0.21×	0.18×	0.07×	0.06×	0.07×
Interest coverage	4.29×	4.39×	15.91×	8.19×	29.3×	68.78×	47.46×	12.26×
Dividend yield	0.0%	0.0%	0.0%	2.0%	1.6%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	26.9%	28.9%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	5.4%	8.5%	9.7%	9.8%	9.4%	9.7%	8.7%	5.4%
Return on invested capital	5.2%	6.9%	6.9%	7.0%	6.6%	8.1%	6.1%	4.5%
Return on assets	3.8%	5.3%	6.9%	6.7%	6.4%	6.7%	6.1%	3.6%
Free cash flow yield	17.7%	-5.6%	-0.6%	2.7%	-11.8%	-1.5%	4.8%	24.1%
Earnings yield	6.7%	5.4%	3.6%	7.6%	5.6%	9.6%	14.9%	11.2%
Enterprise value	₹326M	₹613.7M	₹862.2M	₹395.6M	₹471.9M	₹223.3M	₹117.2M	₹94.7M
Net debt / EBITDA	0.83×	1.5×	0.96×	0.87×	0.93×	0.16×	0.09×	0.33×
Cash conversion cycle (days)	241	242	148	151	108	58	38	-36