Joindre Capital Services Limited (JOINDRE.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

+274.1%

₹179.36

vs ₹47.95 price

Levered DCF

₹33.86

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

Overall 3 / 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	4×	5.54×	126.37×	14.41×	6.14×	7.42×	12.82×	10.17×
P/B	0.62×	0.69×	0.85×	0.62×	0.55×	0.37×	0.25×	0.42×
P/S	1.39×	1.63×	1.99×	1.53×	1.01×	0.86×	0.72×	1.19×
EV / EBITDA	-2.51×	2.2×	14.27×	8.93×	4.83×	3.45×	0.91×	3.23×
Gross margin	57.2%	21.0%	19.7%	46.1%	46.5%	44.9%	2.5%	4.8%
Operating margin	24.0%	6.3%	34.6%	16.5%	22.7%	17.2%	8.6%	72.6%
Net margin	34.6%	29.6%	1.6%	10.6%	16.5%	11.6%	5.6%	11.7%
Current ratio	1.33×	1.92×	0.96×	1×	0.42×	0.66×	1.05×	1.14×
Debt / equity	0.01×	0.01×	0.39×	0.11×	0.15×	0.15×	0×	0×
Interest coverage	14.19×	2.18×	25.36×	6.84×	8.24×	18.93×	8.95×	67.52×
Dividend yield	4.9%	5.0%	2.8%	3.9%	3.6%	3.4%	8.3%	4.9%
Payout ratio	19.8%	27.8%	353.1%	56.2%	22.1%	25.4%	106.6%	50.3%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	15.4%	12.5%	0.7%	4.3%	9.0%	5.0%	1.9%	4.1%
Return on invested capital	8.7%	1.9%	1.9%	4.4%	9.0%	4.6%	2.2%	20.7%
Return on assets	8.0%	6.8%	0.3%	2.7%	4.7%	2.8%	1.3%	2.8%
Free cash flow yield	13.6%	-11.1%	20.5%	-60.5%	24.5%	88.8%	2.5%	-11.3%
Earnings yield	25.0%	18.2%	0.8%	6.9%	16.3%	13.5%	7.8%	9.8%
Enterprise value	-₹433.6M	₹330.6M	₹585.2M	₹469.7M	₹432.2M	₹172.7M	₹18.3M	₹124.6M
Net debt / EBITDA	-5.74×	-1.45×	-0.65×	0.51×	0.53×	-1.38×	-6.61×	-3.33×
Cash conversion cycle (days)	-1,657	-600	-955	-610	-971	-869	-608	-465