Kanungo Financiers Ltd. (KANUNGO.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

+150.4%

₹25.52

vs ₹10.19 price

Levered DCF

-₹3.32

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

C+

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	7.65×	15.4×	9.63×	17.46×	-1.76×	-21.88×	110.25×	475.47×
P/B	0.7×	0.58×	0.42×	0.8×	1.13×	1.3×	1.37×	1.32×
P/S	2.71×	2.26×	2.27×	6.44×	-2.23×	12.73×	25.12×	43.28×
EV / EBITDA	7.69×	78.94×	15×	36.54×	-4.46×	-129.4×	84.18×	397.04×
Gross margin	57.0%	29.0%	48.4%	63.5%	105.1%	-3.5%	86.9%	72.5%
Operating margin	47.5%	20.1%	86.3%	43.0%	110.6%	-28.3%	31.8%	13.2%
Net margin	35.4%	14.6%	23.4%	36.6%	127.1%	-58.2%	22.9%	9.1%
Current ratio	39.63×	20.61×	40.26×	236.72×	1,121.15×	102.53×	126.49×	445.76×
Debt / equity	0.39×	3.6×	2.08×	1.17×	1.4×	2.86×	0.13×	0.32×
Interest coverage	1.11×	0.28×	1.67×	1.18×	-7.79×	-0.27×	777×	0×
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	9.1%	3.8%	4.3%	4.5%	-64.4%	-5.9%	1.2%	0.3%
Return on invested capital	6.5%	0.8%	3.3%	2.1%	-23.3%	-0.7%	1.1%	0.2%
Return on assets	6.5%	0.8%	1.4%	2.1%	-26.8%	-1.5%	1.1%	0.2%
Free cash flow yield	0.0%	0.0%	-249.7%	5.4%	-30.8%	-121.1%	9.4%	23.6%
Earnings yield	13.1%	6.4%	10.3%	5.7%	-57.0%	-4.6%	0.9%	0.2%
Enterprise value	₹65.1M	₹256.1M	₹144.9M	₹112.6M	₹134M	₹186.7M	₹65.4M	₹70.7M
Net debt / EBITDA	1.99×	67.68×	12.36×	21.58×	-2.44×	-84.44×	5.28×	69.01×
Cash conversion cycle (days)	1,757	6,364	5,852	6,312	-1,689	5,602	7,122	15,126