JSL Industries Limited (JSLINDL.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

-66.9%

₹266.60

vs ₹805.00 price

Levered DCF

₹2,114.37

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

B-

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	35.17×	29.02×	16.77×	11.57×	9.15×	5.23×	29.64×	32.76×
P/B	2.48×	4.07×	2.61×	1.19×	0.84×	0.46×	0.37×	0.43×
P/S	2.05×	3.49×	2.01×	0.81×	0.46×	0.25×	0.19×	0.19×
EV / EBITDA	28.85×	20.5×	10.96×	5.9×	5.26×	3.2×	4.85×	4.48×
Gross margin	20.4%	14.3%	15.2%	42.1%	13.0%	40.0%	37.9%	32.4%
Operating margin	5.0%	5.0%	6.7%	8.3%	6.1%	7.3%	1.1%	2.5%
Net margin	5.8%	12.0%	12.0%	7.0%	5.0%	4.8%	0.6%	0.6%
Current ratio	2.84×	3.78×	3.25×	2.89×	2.75×	2.06×	1.65×	1.53×
Debt / equity	0.09×	0.1×	0.13×	0.08×	0.1×	0.13×	0.16×	0.11×
Interest coverage	7.16×	6×	8.68×	6.98×	5.78×	6.35×	0.67×	1.49×
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	7.0%	14.0%	15.6%	10.3%	9.2%	8.8%	1.3%	1.3%
Return on invested capital	3.9%	4.2%	5.2%	6.2%	7.0%	7.4%	0.7%	2.0%
Return on assets	5.2%	10.5%	11.1%	7.3%	6.2%	5.6%	0.7%	0.8%
Free cash flow yield	7.4%	-0.6%	-3.4%	-1.4%	-27.1%	4.8%	-28.5%	39.6%
Earnings yield	2.8%	3.4%	6.0%	8.6%	10.9%	19.1%	3.4%	3.1%
Enterprise value	₹1.2B	₹1.9B	₹1.1B	₹423.2M	₹281M	₹156.2M	₹132.2M	₹131.8M
Net debt / EBITDA	0.97×	0.49×	0.53×	0.35×	0.54×	0.63×	1.47×	0.89×
Cash conversion cycle (days)	106	105	80	86	57	44	-14	4