Jaiprakash Power Ventures Limited (JPPOWER.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

+226.4%

₹44.16

vs ₹13.53 price

Levered DCF

₹56.17

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

1.82

Grey zone

Rating

A-

Overall 4 / 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	28.65×	16.45×	14.67×	112.8×	69.46×	13.17×	-0.2×	-2.91×
P/B	1.01×	1.09×	1.3×	0.57×	0.7×	0.34×	0.04×	0.15×
P/S	2.32×	2.44×	2.21×	1.02×	1.57×	1.05×	0.13×	0.29×
EV / EBITDA	8.96×	8.59×	8.57×	9.11×	10.95×	7.47×	7.32×	18.18×
Gross margin	22.9%	40.5%	37.3%	24.4%	28.5%	41.1%	33.4%	39.3%
Operating margin	16.1%	37.7%	35.3%	22.2%	26.1%	38.0%	30.0%	36.5%
Net margin	8.1%	14.9%	15.1%	1.0%	2.3%	8.1%	-65.8%	-9.8%
Current ratio	2.7×	2.41×	1.82×	1.19×	1.15×	1.02×	0.65×	0.24×
Debt / equity	0.27×	0.31×	0.37×	0.46×	0.49×	0.51×	0.62×	3.14×
Interest coverage	2.38×	4.97×	5.32×	2.29×	2.17×	2.17×	1.51×	0.96×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	1.2%	2.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	-0.2%	-5.7%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	3.5%	6.6%	8.9%	0.5%	1.0%	2.6%	-21.6%	-5.2%
Return on invested capital	3.2%	8.2%	12.1%	2.0%	2.6%	5.3%	5.9%	3.7%
Return on assets	2.5%	4.6%	5.9%	0.3%	0.6%	1.6%	-12.1%	-1.0%
Free cash flow yield	9.0%	11.0%	11.6%	10.9%	10.2%	22.0%	247.6%	92.3%
Earnings yield	3.5%	6.1%	6.8%	0.9%	1.5%	7.7%	-501.5%	-34.4%
Enterprise value	₹142.9B	₹162.3B	₹191.7B	₹106.2B	₹122.6B	₹86.5B	₹64.9B	₹242.3B
Net debt / EBITDA	0.87×	1.53×	1.88×	4.03×	4.48×	4.48×	6.83×	17.35×
Cash conversion cycle (days)	90	104	78	112	103	84	66	104