Kanoria Chemicals & Industries Limited (KANORICHEM.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

-267.6%

-₹277.43

vs ₹165.50 price

Levered DCF

-₹594.98

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

B-

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	2.03×	-4.08×	-12.86×	-53.01×	87.63×	27.42×	-3.99×	-18.85×
P/B	0.08×	0.66×	0.82×	0.77×	1×	0.68×	0.18×	0.47×
P/S	0.05×	0.22×	0.33×	0.29×	0.44×	0.36×	0.1×	0.26×
EV / EBITDA	4.59×	87.43×	15.43×	11.57×	11.03×	8.66×	13.57×	11.67×
Gross margin	18.4%	30.7%	31.7%	29.3%	28.2%	31.4%	29.4%	29.2%
Operating margin	3.7%	-2.1%	-0.1%	0.9%	0.8%	3.3%	-2.8%	1.3%
Net margin	2.4%	-5.4%	-2.6%	-0.6%	0.5%	1.3%	-2.6%	-1.4%
Current ratio	0.92×	0.99×	1.11×	1.12×	1.24×	1.22×	1.07×	1.11×
Debt / equity	0.51×	1.14×	0.85×	0.84×	0.79×	0.84×	0.96×	0.86×
Interest coverage	1.13×	-0.71×	-0.02×	0.39×	0.44×	1.13×	-0.8×	0.42×
Dividend yield	0.0%	0.0%	0.0%	0.9%	0.0%	1.0%	3.8%	2.8%
Payout ratio	0.0%	0.0%	0.0%	-49.8%	0.0%	27.2%	-15.3%	-52.9%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	4.0%	-16.1%	-6.4%	-1.4%	1.1%	2.5%	-4.5%	-2.5%
Return on invested capital	3.9%	-2.8%	-0.1%	1.2%	0.2%	3.2%	-1.7%	1.2%
Return on assets	2.1%	-5.6%	-2.6%	-0.6%	0.5%	1.1%	-1.9%	-1.1%
Free cash flow yield	-25.2%	-23.4%	-8.8%	-6.8%	6.7%	13.8%	-15.6%	2.4%
Earnings yield	49.2%	-24.5%	-7.8%	-1.9%	1.1%	3.7%	-25.1%	-5.3%
Enterprise value	₹3.3B	₹9.3B	₹9.9B	₹9.6B	₹10.5B	₹8.6B	₹6.1B	₹7.8B
Net debt / EBITDA	3.94×	55.24×	7.75×	5.94×	4.77×	4.65×	11.28×	7.44×
Cash conversion cycle (days)	37	63	64	61	63	75	65	71