Kellton Tech Solutions Limited (KELLTONTEC.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

-162.1%

-₹6.90

vs ₹11.12 price

Levered DCF

-₹24.42

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

Overall 3 / 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	7.4×	13.37×	15.77×	-3.35×	11.51×	9.73×	0.97×	5.21×
P/B	0.85×	1.97×	2.27×	1.14×	1.69×	1.65×	0.16×	1.22×
P/S	0.56×	0.96×	1.02×	0.46×	0.96×	0.89×	0.09×	0.49×
EV / EBITDA	6.2×	9.19×	11.01×	-6.31×	8.6×	6.84×	1.61×	4.29×
Gross margin	52.1%	51.4%	18.3%	49.4%	99.7%	98.1%	97.0%	97.3%
Operating margin	9.9%	10.1%	9.2%	8.8%	11.2%	12.6%	12.9%	14.0%
Net margin	7.5%	7.3%	6.5%	-13.8%	8.4%	9.2%	9.2%	9.5%
Current ratio	3.24×	3.66×	3.36×	3.15×	2.96×	2.51×	1.98×	1.72×
Debt / equity	0.24×	0.3×	0.35×	0.43×	0.26×	0.26×	0.32×	0.37×
Interest coverage	5.67×	5.46×	4.94×	7.05×	8.19×	7.58×	6.04×	6.24×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.3%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	3.4%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	11.4%	14.9%	14.4%	-34.0%	14.7%	16.9%	16.9%	23.4%
Return on invested capital	10.0%	13.5%	13.3%	14.9%	13.0%	14.6%	13.5%	18.8%
Return on assets	8.1%	10.1%	9.7%	-21.3%	10.5%	11.3%	9.8%	12.8%
Free cash flow yield	-27.2%	-3.7%	1.6%	0.8%	-1.4%	10.6%	4.5%	11.9%
Earnings yield	13.5%	7.5%	6.4%	-29.8%	8.7%	10.2%	103.1%	19.2%
Enterprise value	₹8.4B	₹11.9B	₹11.4B	₹5.6B	₹9.1B	₹7.7B	₹1.8B	₹5.1B
Net debt / EBITDA	1.19×	1.04×	1.3×	-1.5×	0.95×	0.67×	1×	0.89×
Cash conversion cycle (days)	187	97	153	33	-2,088	-257	-481	-453