Kinetic Trust Limited (KINETRU.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

+107.1%

₹108.39

vs ₹52.35 price

Levered DCF

₹55.04

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.76

Distress zone

Rating

C-

Overall 1 / 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	107.56×	40.76×	58.04×	-27.17×	84.17×	-60.24×	-123.09×	71.25×
P/B	3.85×	1.84×	1.39×	0.73×	0.88×	0.45×	0.75×	0.74×
P/S	9.16×	6.25×	11.04×	9.98×	21.45×	13.11×	21.54×	15.67×
EV / EBITDA	29.6×	23.53×	59.53×	-6.97×	82.37×	-65.11×	-134.24×	52.2×
Gross margin	94.9%	94.2%	85.2%	71.0%	55.3%	39.3%	53.4%	72.2%
Operating margin	84.8%	81.6%	57.6%	27.8%	-42.4%	-21.3%	-17.4%	29.4%
Net margin	8.4%	15.4%	19.0%	-36.6%	26.0%	-21.8%	-17.5%	21.8%
Current ratio	105.03×	19.39×	94.3×	2.72×	10.18×	9.47×	7.05×	8.2×
Debt / equity	6.86×	3.8×	2.87×	0×	0.01×	0.01×	0.01×	0.01×
Interest coverage	1.16×	1.34×	2.52×	0×	-670×	0×	-213.88×	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	3.5%	4.5%	2.4%	-2.7%	1.1%	-0.7%	-0.6%	1.0%
Return on invested capital	2.9%	3.7%	1.3%	1.5%	-1.5%	-0.6%	-0.6%	1.0%
Return on assets	0.4%	0.9%	0.6%	-1.7%	0.8%	-0.6%	-0.5%	0.9%
Free cash flow yield	25.4%	3.6%	-47.6%	57.5%	-5.2%	-8.6%	-3.5%	-0.6%
Earnings yield	0.9%	2.5%	1.7%	-3.7%	1.2%	-1.7%	-0.8%	1.4%
Enterprise value	₹439.6M	₹226.9M	₹145.1M	₹9.3M	₹34.3M	₹17.3M	₹29M	₹29M
Net debt / EBITDA	18.8×	15.86×	37.64×	13.48×	0.79×	-0.68×	-1.47×	0.57×
Cash conversion cycle (days)	-518	5,297	9,067	4,704	7,067	8,866	9,157	6,817