Kaushalya Infrastructure Development Corporation Limited (KAUSHALYA.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

-34.4%

₹536.69

vs ₹817.95 price

Levered DCF

-₹35.83

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

6.99

Safe zone

Rating

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	79.83×	5.76×	1.45×	0.89×	28.74×	8.96×	-0.23×	0.1×
P/B	0.34×	0.4×	0.3×	0.24×	0.31×	0.15×	0.04×	0.05×
P/S	29.07×	234.37×	150.46×	109.96×	89.41×	2.51×	7.67×	10.02×
EV / EBITDA	69.5×	6.35×	-17.53×	-30.51×	31.38×	6.26×	-5.36×	1.97×
Gross margin	24.8%	80.8%	72.6%	9.0%	26.5%	45.7%	67.0%	74.9%
Operating margin	37.9%	-959.4%	-298.8%	-1353.7%	-1162.4%	-71.9%	-222.6%	-166.9%
Net margin	36.5%	4069.8%	10372.6%	12426.4%	311.1%	28.0%	-3407.6%	10011.0%
Current ratio	1.74×	2.11×	6.13×	0.16×	0.15×	0.27×	0.48×	0.52×
Debt / equity	0×	0×	0×	0.4×	0.6×	0.62×	0.77×	0.66×
Interest coverage	309.73×	0×	-1,437.33×	-358.3×	-51.56×	-99.71×	-11.96×	-117.19×
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	0.4%	6.9%	20.8%	27.6%	1.1%	1.6%	-15.8%	47.5%
Return on invested capital	0.3%	-1.6%	-0.5%	-2.1%	-1.1%	-0.4%	-0.6%	-0.5%
Return on assets	0.4%	6.6%	20.2%	19.1%	0.6%	0.9%	-7.3%	23.6%
Free cash flow yield	-0.1%	0.0%	11.0%	5.0%	-34.1%	83.3%	-78.3%	-55.8%
Earnings yield	1.3%	17.4%	68.9%	113.0%	3.5%	11.2%	-444.0%	999.3%
Enterprise value	₹254.6M	₹305.4M	₹215.5M	₹357.8M	₹360.4M	₹300.3M	₹311.2M	₹335.4M
Net debt / EBITDA	-1.84×	-0.03×	0.13×	-18.85×	20.68×	5.07×	-5.12×	1.84×
Cash conversion cycle (days)	777	2,654	2,680	8,236	5,688	754	-34,982	-47,613