KIOCL Limited (KIOCL.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

-102.7%

-₹9.15

vs ₹333.00 price

Levered DCF

₹1.80

After debt service

Piotroski score

3 / 9

Weak

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	1,173.7×	-74.1×	-300.18×	-104.69×	40.45×	29.45×	84.57×	80.25×
P/B	11.09×	8.87×	13.03×	5.12×	5.92×	4.46×	1.92×	4.51×
P/S	31.4×	25.7×	13.48×	6.64×	4.22×	3.75×	1.91×	4.81×
EV / EBITDA	295.29×	-101.8×	-1,138.45×	-122.49×	27.65×	18.57×	33.38×	41.33×
Gross margin	-5.1%	18.5%	20.9%	16.8%	28.8%	32.6%	20.1%	30.2%
Operating margin	-11.1%	-40.3%	-5.2%	-11.7%	11.9%	13.9%	-2.4%	3.3%
Net margin	2.7%	-34.6%	-4.5%	-6.3%	10.4%	12.8%	2.3%	6.0%
Current ratio	3.38×	3.56×	4.42×	2.65×	6.57×	7.25×	7.9×	9.06×
Debt / equity	0.11×	0.11×	0.09×	0.27×	0.06×	0.06×	0.06×	0×
Interest coverage	-4.7×	-15.52×	-6.58×	-13.23×	29.24×	22.03×	-4.56×	75.83×
Dividend yield	0.0%	0.0%	0.0%	0.5%	1.3%	0.5%	2.7%	0.7%
Payout ratio	0.0%	0.0%	0.0%	-49.2%	50.8%	14.5%	229.4%	54.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	1.0%	-12.0%	-4.3%	-4.9%	14.6%	15.2%	2.3%	5.6%
Return on invested capital	-3.4%	-11.9%	-4.4%	-5.5%	11.5%	10.9%	-1.5%	1.8%
Return on assets	0.7%	-8.9%	-3.4%	-3.3%	11.8%	12.1%	1.8%	4.8%
Free cash flow yield	0.6%	2.3%	-0.0%	-7.2%	-1.7%	0.8%	-1.2%	-1.6%
Earnings yield	0.1%	-1.3%	-0.3%	-1.0%	2.5%	3.4%	1.2%	1.2%
Enterprise value	₹193.8B	₹153B	₹250.6B	₹102.7B	₹125.7B	₹84.1B	₹33.8B	₹84.4B
Net debt / EBITDA	1.79×	-0.83×	-3×	-0.34×	-0.26×	-1.01×	-3.03×	-2.73×
Cash conversion cycle (days)	-24	-44	89	139	75	79	62	78