Kiran Vyapar Limited (KIRANVYPAR.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

+122.5%

₹427.71

vs ₹192.20 price

Levered DCF

-₹223.83

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

1.01

Distress zone

Rating

D+

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	797×	8.73×	2.4×	9.46×	3.21×	2.52×	-16.69×	11.83×
P/B	0.36×	0.25×	0.25×	0.25×	0.27×	0.2×	0.14×	0.25×
P/S	7.61×	7.99×	3.85×	5.19×	4×	3.37×	1.82×	2.64×
EV / EBITDA	105.3×	7.53×	8.52×	11.99×	2.82×	2.61×	27.81×	9.05×
Gross margin	44.6%	59.9%	50.3%	74.3%	75.1%	62.6%	68.2%	59.6%
Operating margin	18.3%	100.6%	79.0%	52.9%	124.9%	135.4%	24.2%	27.0%
Net margin	1.0%	88.6%	160.8%	54.8%	124.8%	133.4%	-10.9%	22.3%
Current ratio	0.44×	412.95×	8.76×	3.66×	6.68×	5.6×	5.08×	66.09×
Debt / equity	0.22×	0.14×	0.1×	0.19×	0.05×	0.03×	0.03×	0.03×
Interest coverage	0.63×	4.49×	10.07×	6.01×	24.15×	32.66×	4.66×	10.17×
Dividend yield	0.3%	0.5%	0.6%	1.1%	1.1%	0.8%	4.9%	2.4%
Payout ratio	264.4%	4.5%	1.4%	10.5%	3.4%	2.0%	-82.4%	28.6%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	0.0%	2.8%	10.4%	2.7%	8.3%	8.0%	-0.9%	2.1%
Return on invested capital	0.0%	1.9%	4.5%	1.8%	6.3%	6.2%	1.7%	1.9%
Return on assets	0.0%	2.3%	9.9%	2.2%	7.4%	7.2%	-0.8%	1.9%
Free cash flow yield	-2.4%	-12.6%	1.2%	-12.3%	17.2%	-4.8%	-22.3%	7.4%
Earnings yield	0.1%	11.1%	41.7%	10.6%	31.2%	39.6%	-6.0%	8.5%
Enterprise value	₹11.3B	₹7B	₹6.3B	₹6.3B	₹4.1B	₹2.6B	₹1.5B	₹2.9B
Net debt / EBITDA	29.63×	1.69×	1.93×	5.02×	0.23×	0.19×	2.05×	0.75×
Cash conversion cycle (days)	-22	1,765	845	146	102	187	276	962