KCD Industries India Ltd. (KCDGROUP.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

-58.0%

₹1.09

vs ₹2.60 price

Levered DCF

-₹0.56

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

—

Rating

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	73.88×	3.87×	8.3×	140.5×	-366.67×	252.9×	386.57×	1,691.25×
P/B	0.54×	0.62×	5.36×	7.91×	8.37×	8.19×	8.43×	8.86×
P/S	7.22×	1.35×	6.89×	-370.59×	257.45×	30.92×	171.81×	44.62×
EV / EBITDA	76.54×	19.66×	15.26×	65.01×	-391.52×	176.05×	313.46×	1,388.67×
Gross margin	15.3%	20.6%	42.3%	-902.2%	23.1%	4.2%	100.0%	7.9%
Operating margin	-8.5%	15.0%	24.1%	1329.3%	-83.1%	-16.8%	54.8%	3.2%
Net margin	6.9%	12.4%	41.5%	-263.7%	-70.2%	12.2%	44.4%	2.6%
Current ratio	4.84×	2.92×	2.78×	2.2×	2.8×	3.12×	39.35×	2.74×
Debt / equity	0.08×	0×	0×	0×	0×	0×	0.01×	0.01×
Interest coverage	-238.33×	11.11×	10.37×	-818.78×	-49.89×	0×	0×	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	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	0.5%	5.7%	32.2%	5.6%	-2.3%	3.2%	2.2%	0.5%
Return on invested capital	-0.4%	4.9%	18.2%	-13.0%	-2.6%	-3.3%	2.3%	0.6%
Return on assets	0.4%	4.0%	20.6%	3.1%	-1.5%	2.2%	2.1%	0.3%
Free cash flow yield	8.3%	-104.8%	0.1%	-0.5%	0.1%	0.1%	-0.3%	-0.1%
Earnings yield	1.0%	9.2%	6.0%	0.7%	-0.3%	0.4%	0.3%	0.1%
Enterprise value	₹251.7M	₹260.8M	₹270.2M	₹270.6M	₹269.4M	₹270.6M	₹269.7M	₹276.8M
Net debt / EBITDA	9.78×	-0.03×	-0.02×	-0.02×	1.77×	-0.01×	0.21×	-2.61×
Cash conversion cycle (days)	891	169	-9	-792	1,876	217	6,984	1,697