Jash Engineering Limited (JASH.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

-19.8%

₹391.57

vs ₹488.00 price

Levered DCF

₹357.06

After debt service

Piotroski score

3 / 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	28.71×	40.97×	31.03×	19.41×	18.83×	11.67×	5.75×	2.77×
P/B	4.21×	8.39×	5.9×	4.2×	3.25×	2.28×	0.92×	0.19×
P/S	2.97×	4.94×	4.02×	2.5×	1.66×	1.19×	0.44×	0.09×
EV / EBITDA	17.92×	26.29×	20.71×	14×	12.96×	7.79×	4.49×	3.36×
Gross margin	33.1%	35.8%	29.7%	48.8%	22.1%	47.0%	44.5%	46.1%
Operating margin	11.2%	15.0%	17.4%	13.7%	9.8%	14.7%	12.4%	7.4%
Net margin	10.3%	11.9%	12.9%	12.9%	8.8%	10.2%	7.6%	3.1%
Current ratio	2.04×	1.91×	1.9×	1.65×	1.56×	1.57×	1.29×	1.15×
Debt / equity	0.2×	0.23×	0.23×	0.34×	0.44×	0.46×	0.67×	0.68×
Interest coverage	6.45×	8.46×	8.15×	5.56×	4.14×	4.48×	3.22×	2.17×
Dividend yield	0.5%	0.4%	0.3%	0.4%	0.6%	0.3%	3.7%	6.7%
Payout ratio	14.9%	16.0%	10.8%	8.3%	11.8%	3.5%	21.3%	18.5%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	14.7%	20.3%	19.0%	21.7%	17.2%	19.5%	16.0%	7.0%
Return on invested capital	10.8%	16.5%	16.6%	15.6%	12.1%	15.8%	11.0%	5.4%
Return on assets	8.7%	11.7%	11.0%	11.5%	8.7%	9.6%	7.1%	2.9%
Free cash flow yield	0.5%	0.1%	1.6%	1.8%	0.3%	7.3%	12.3%	6.6%
Earnings yield	3.5%	2.4%	3.2%	5.2%	5.3%	8.6%	17.4%	36.1%
Enterprise value	₹22B	₹36.3B	₹21.2B	₹10.8B	₹6.8B	₹4.2B	₹2B	₹936.7M
Net debt / EBITDA	0.07×	-0.03×	0.48×	0.95×	1.48×	1.25×	1.85×	2.59×
Cash conversion cycle (days)	217	194	271	208	159	162	170	124