Kay Power And Paper Limited (KAYPOWR.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

-243.9%

-₹14.17

vs ₹9.85 price

Levered DCF

-₹33.60

After debt service

Piotroski score

2 / 9

Weak

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	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	26.79×	33.92×	31.63×	6.33×	63.95×	47.82×	668.29×	43.7×
P/B	0.34×	0.76×	13.71×	4.53×	10.54×	6.28×	7.24×	7.32×
P/S	1.11×	0.94×	1.38×	0.21×	0.18×	0.15×	0.11×	0.08×
EV / EBITDA	10.89×	288.42×	55.78×	17.24×	25.92×	22.57×	20.14×	5.61×
Gross margin	7.1%	8.9%	-1.3%	3.1%	1.9%	-10.2%	-0.0%	5.0%
Operating margin	1.9%	-3.2%	-3.2%	1.9%	0.2%	-12.8%	-2.4%	3.3%
Net margin	4.1%	2.8%	4.4%	3.4%	0.3%	0.3%	0.0%	0.2%
Current ratio	6.43×	1.58×	1.23×	0.57×	2.57×	2.35×	2.47×	1.41×
Debt / equity	0×	0.02×	7.86×	15.32×	35.41×	39.2×	45.29×	24.62×
Interest coverage	290.63×	0×	0×	45.42×	4.22×	-360.87×	-3.37×	0.93×
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	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	1.3%	2.3%	43.4%	71.7%	16.5%	13.1%	1.1%	16.7%
Return on invested capital	0.6%	-2.6%	-3.6%	2.4%	0.4%	-13.0%	-2.9%	5.1%
Return on assets	1.2%	1.8%	4.3%	3.1%	0.4%	0.3%	0.0%	0.2%
Free cash flow yield	-104.6%	-49.8%	6.2%	-128.1%	-19.5%	18.2%	25.9%	93.9%
Earnings yield	3.7%	3.0%	3.2%	15.8%	1.6%	2.1%	0.2%	2.3%
Enterprise value	₹269.5M	₹384.5M	₹745.9M	₹389M	₹244.5M	₹203.9M	₹210.1M	₹124.8M
Net debt / EBITDA	-0.05×	4.38×	20.23×	13.29×	19.72×	19.35×	17.35×	4.3×
Cash conversion cycle (days)	56	-40	5	-68	67	74	63	-41