Jain Irrigation Systems Limited (JISLDVREQS.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

+35.8%

₹24.47

vs ₹18.02 price

Levered DCF

-₹25.27

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

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	-56.32×	57.94×	24.2×	1.34×	3.26×	-1.6×	-0.25×	8.61×
P/B	0.24×	0.35×	0.41×	0.21×	0.29×	0.21×	0.05×	0.47×
P/S	0.22×	0.34×	0.37×	0.2×	0.23×	0.11×	0.03×	0.24×
EV / EBITDA	6.28×	8.23×	7.88×	7.79×	8.85×	14.48×	117.93×	6.01×
Gross margin	26.8%	42.3%	41.3%	38.2%	38.8%	41.1%	40.8%	43.9%
Operating margin	9.5%	30.5%	8.0%	29.9%	2.8%	27.8%	-6.0%	8.8%
Net margin	-0.4%	0.6%	0.7%	14.6%	7.0%	-7.1%	-11.6%	2.8%
Current ratio	1.16×	1.31×	1.36×	1.27×	1.29×	0.94×	1.02×	1.38×
Debt / equity	0.74×	0.71×	0.74×	0.77×	1.84×	2.34×	2.06×	1.19×
Interest coverage	1.33×	4.07×	1.16×	3.66×	0.37×	2.09×	-0.54×	1.47×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.1%	2.5%
Payout ratio	0.0%	0.5%	0.3%	0.0%	0.0%	-0.0%	-0.0%	21.3%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-0.4%	0.6%	0.8%	16.0%	8.9%	-13.3%	-20.6%	5.4%
Return on invested capital	-11.9%	9.9%	3.6%	18.2%	1.2%	9.4%	-2.4%	4.9%
Return on assets	-0.2%	0.3%	0.4%	7.5%	2.6%	-3.1%	-5.4%	1.9%
Free cash flow yield	-6.6%	30.1%	13.6%	-10.4%	28.6%	26.2%	-544.6%	-11.4%
Earnings yield	-1.8%	1.7%	2.0%	74.7%	30.7%	-62.6%	-407.9%	11.6%
Enterprise value	₹55.9B	₹59B	₹62.1B	₹49.6B	₹74.9B	₹71.5B	₹71B	₹71.9B
Net debt / EBITDA	4.7×	5.47×	5.02×	6.05×	7.6×	13.2×	115.02×	4.29×
Cash conversion cycle (days)	237	293	239	272	452	449	339	216