Jyothy Labs Limited (JYOTHYLAB.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

+137.6%

₹447.10

vs ₹188.15 price

Levered DCF

₹409.33

After debt service

Piotroski score

5 / 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	21.75×	32.6×	44.13×	29.17×	33.44×	25.19×	19.87×	32.72×
P/B	4.56×	5.89×	9.02×	4.52×	3.75×	3.52×	2.76×	5.06×
P/S	2.46×	4.21×	5.9×	2.81×	2.46×	2.63×	1.98×	3.7×
EV / EBITDA	14×	22.58×	32.82×	21.08×	21.23×	15.55×	13.91×	23.05×
Gross margin	33.3%	50.2%	48.8%	41.9%	41.2%	46.7%	46.8%	46.0%
Operating margin	13.2%	30.2%	29.6%	24.2%	22.5%	27.9%	26.7%	27.2%
Net margin	11.3%	12.9%	13.4%	9.6%	7.4%	10.4%	10.0%	11.3%
Current ratio	2.68×	2.76×	2.37×	1.91×	1.39×	1.32×	0.82×	1.05×
Debt / equity	0.03×	0.03×	0.03×	0.03×	0.12×	0.12×	0.27×	0.21×
Interest coverage	77.88×	146.24×	172.63×	45.93×	42.06×	27.73×	13.93×	14.22×
Dividend yield	1.8%	1.1%	0.7%	1.3%	2.7%	0.0%	7.8%	0.3%
Payout ratio	38.6%	34.7%	29.8%	38.3%	90.7%	0.0%	155.9%	8.9%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	21.0%	18.1%	20.4%	15.5%	11.2%	14.0%	13.9%	15.5%
Return on invested capital	16.7%	29.8%	32.4%	28.8%	24.2%	26.7%	25.7%	24.5%
Return on assets	14.8%	13.8%	15.4%	11.6%	8.0%	10.2%	9.3%	10.6%
Free cash flow yield	4.9%	2.1%	2.6%	4.2%	3.3%	7.5%	3.8%	3.9%
Earnings yield	4.6%	3.1%	2.3%	3.4%	3.0%	4.0%	5.0%	3.1%
Enterprise value	₹72.5B	₹120B	₹162.7B	₹69.4B	₹55.1B	₹51.2B	₹37.1B	₹69.2B
Net debt / EBITDA	-0×	-0.15×	-0.07×	-0.18×	0.37×	0.29×	1.2×	0.68×
Cash conversion cycle (days)	39	45	2	43	42	50	83	41