Jindal Capital Limited (JINDCAP.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

+124.2%

₹82.93

vs ₹36.99 price

Levered DCF

₹97.51

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

2.64

Grey zone

Rating

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	18.25×	21.09×	23.57×	100.29×	47.74×	21.79×	-25.33×	112.5×
P/B	1.69×	2.65×	2.62×	1.71×	2.46×	1.11×	0.37×	0.63×
P/S	5.03×	7.76×	7.38×	3.06×	2.48×	1.44×	0.23×	0.43×
EV / EBITDA	13.59×	14.31×	17×	54.92×	24.34×	12.87×	-52.3×	25.6×
Gross margin	71.3%	78.8%	72.9%	10.4%	12.3%	13.5%	0.7%	2.7%
Operating margin	56.8%	66.7%	50.3%	4.7%	8.0%	10.6%	-0.8%	1.1%
Net margin	27.6%	36.8%	31.4%	3.0%	5.2%	6.6%	-0.9%	0.4%
Current ratio	554.3×	1,166.1×	26.2×	67.14×	167.97×	56.11×	540.52×	138.76×
Debt / equity	1.17×	0.7×	0.45×	0.13×	0×	0.02×	0.06×	0.01×
Interest coverage	2.25×	4.89×	6×	9.46×	71.37×	48.52×	-8.13×	4.63×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	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	9.2%	12.6%	11.1%	1.7%	5.1%	5.1%	-1.5%	0.6%
Return on invested capital	6.3%	9.3%	7.1%	1.7%	4.6%	5.1%	-1.2%	0.7%
Return on assets	4.1%	7.1%	7.4%	1.5%	5.0%	4.9%	-1.4%	0.6%
Free cash flow yield	9.0%	6.2%	6.8%	9.5%	2.8%	-3.4%	-33.1%	27.4%
Earnings yield	5.5%	4.7%	4.3%	1.0%	2.1%	4.6%	-4.0%	0.9%
Enterprise value	₹346.3M	₹343.5M	₹303.1M	₹146.7M	₹198.9M	₹88.7M	₹31.8M	₹43.2M
Net debt / EBITDA	5.5×	2.06×	2.33×	-1.91×	-1.77×	0.1×	-7.32×	-2.6×
Cash conversion cycle (days)	0	1,608	79	107	314	486	144	143