Kemistar Corporation Limited (KEMISTAR.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

-384.4%

-₹126.83

vs ₹44.60 price

Levered DCF

-₹125.46

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

C-

Overall 1 / 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	134.42×	135.58×	88.96×	52.56×	48.53×	104.51×	96.62×	134×
P/B	3.98×	4.43×	2.63×	2.52×	2.43×	2.9×	2.69×	2.42×
P/S	2.79×	4.5×	4.27×	2.43×	1.95×	3.29×	2.94×	3.62×
EV / EBITDA	65.64×	68.13×	37.47×	26.24×	25.36×	48.4×	111.23×	59.26×
Gross margin	13.8%	17.5%	31.6%	28.9%	16.7%	16.8%	13.7%	19.3%
Operating margin	3.3%	0.8%	9.9%	6.2%	11.6%	9.3%	2.1%	3.6%
Net margin	2.1%	3.3%	4.8%	4.6%	4.0%	3.2%	3.0%	2.7%
Current ratio	1.16×	1.47×	1.51×	1.54×	1.67×	1.42×	1.62×	2.44×
Debt / equity	0.49×	0.44×	0.39×	0.16×	0.19×	0.14×	0.14×	0.14×
Interest coverage	4.63×	0.81×	3.45×	6.73×	16.93×	12.12×	0×	1.91×
Dividend yield	0.1%	0.2%	0.2%	0.2%	0.0%	0.0%	0.0%	0.0%
Payout ratio	14.2%	22.6%	20.3%	12.9%	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	3.0%	3.3%	3.0%	4.8%	5.0%	2.8%	2.8%	1.8%
Return on invested capital	2.3%	0.4%	3.2%	4.1%	9.5%	5.4%	1.3%	1.6%
Return on assets	1.5%	2.1%	1.9%	3.5%	3.4%	1.9%	1.9%	1.3%
Free cash flow yield	-0.4%	-2.6%	-7.7%	1.5%	-0.4%	-0.8%	0.5%	-2.9%
Earnings yield	0.7%	0.7%	1.1%	1.9%	2.1%	1.0%	1.0%	0.7%
Enterprise value	₹839.9M	₹894.7M	₹537.6M	₹465M	₹434.7M	₹480.8M	₹434.4M	₹382.4M
Net debt / EBITDA	6.86×	5.96×	4.54×	1.36×	1.6×	1.99×	4.75×	2.77×
Cash conversion cycle (days)	38	61	79	19	33	8	-113	27