Ken Financial Services Limited (KENFIN.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

-349.2%

-₹37.55

vs ₹15.07 price

Levered DCF

-₹50.75

After debt service

Piotroski score

—

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	6.57×	50.86×	51.27×	2.31×	1.91×	3.28×	1.04×	6.6×
P/B	0.37×	0.58×	0.56×	0.2×	0.22×	0.25×	0.27×	0.37×
P/S	2.85×	7.02×	6.89×	0.18×	0.2×	0.16×	0.08×	0.76×
EV / EBITDA	-2.66×	56.85×	43.76×	2.34×	16.23×	28.83×	4.81×	40.67×
Gross margin	-24.3%	45.1%	44.3%	90.5%	83.2%	86.9%	97.8%	95.0%
Operating margin	-437.1%	19.0%	24.1%	19.1%	17.9%	6.8%	15.0%	4.0%
Net margin	43.4%	14.0%	13.2%	8.0%	10.3%	4.9%	7.7%	11.5%
Current ratio	10.25×	86.38×	161.06×	71.63×	18.01×	14.26×	3.87×	4.85×
Debt / equity	1.15×	0.32×	0.3×	0.31×	3.05×	2.9×	2.17×	0.84×
Interest coverage	0×	0×	0×	0×	0×	0×	9.74×	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	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	5.6%	1.2%	1.1%	8.8%	11.5%	7.7%	26.1%	5.6%
Return on invested capital	-18.0%	0.9%	1.0%	9.9%	3.7%	1.9%	11.6%	0.8%
Return on assets	2.3%	0.9%	0.8%	6.5%	2.7%	1.8%	6.1%	2.4%
Free cash flow yield	-227.2%	-3.9%	-1.7%	1232.5%	-241.5%	-340.1%	-678.2%	129.3%
Earnings yield	15.2%	2.0%	1.9%	43.3%	52.4%	30.5%	95.9%	15.2%
Enterprise value	₹115.9M	₹64.8M	₹61.2M	₹34.7M	₹210.5M	₹176.1M	₹127.7M	₹31.1M
Net debt / EBITDA	-2×	20×	15.14×	1.38×	15.13×	26.5×	4.27×	22.06×
Cash conversion cycle (days)	-490	4,823	-59	277	874	651	-4,907	-6,171