Kothari Sugars and Chemicals Limited (KOTARISUG.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

-29.1%

₹16.04

vs ₹22.62 price

Levered DCF

-₹7.84

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

Overall 2 / 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	28.69×	27.31×	15.41×	6.9×	8.65×	11.99×	3.65×	6.63×
P/B	0.64×	0.99×	1.63×	1.12×	1.34×	1.22×	0.43×	0.55×
P/S	0.77×	0.92×	0.91×	0.47×	0.7×	0.54×	0.2×	0.26×
EV / EBITDA	15.81×	9.58×	8.79×	4.51×	6.1×	6.22×	3.97×	4.52×
Gross margin	7.3%	14.1%	12.7%	29.9%	18.4%	9.3%	24.8%	26.1%
Operating margin	-12.3%	-0.8%	6.1%	8.0%	8.5%	4.6%	4.4%	5.2%
Net margin	2.7%	3.4%	5.9%	6.9%	8.1%	4.5%	5.6%	3.9%
Current ratio	2.13×	2.18×	1.76×	1.74×	1.61×	1.51×	1.16×	1.26×
Debt / equity	0.24×	0.17×	0.25×	0.15×	0.26×	0.19×	0.5×	0.76×
Interest coverage	-6.76×	-0.67×	8.75×	12.57×	8.77×	3.75×	2.18×	2.44×
Dividend yield	0.0%	0.0%	1.8%	1.4%	0.0%	0.0%	5.8%	0.0%
Payout ratio	0.0%	0.0%	28.1%	9.9%	0.0%	0.0%	21.3%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	2.2%	3.6%	10.6%	16.3%	15.5%	10.2%	11.7%	8.4%
Return on invested capital	19.4%	-0.4%	5.6%	11.7%	10.2%	6.2%	5.5%	3.2%
Return on assets	1.5%	2.3%	6.1%	9.7%	8.6%	5.6%	5.2%	3.2%
Free cash flow yield	-20.9%	16.2%	-0.4%	8.2%	-2.4%	34.0%	13.9%	25.1%
Earnings yield	3.5%	3.6%	6.5%	14.5%	11.5%	8.4%	27.4%	15.1%
Enterprise value	₹2.6B	₹3.4B	₹5.2B	₹3.3B	₹3.5B	₹2.6B	₹1.5B	₹1.9B
Net debt / EBITDA	4.26×	1.4×	1.17×	0.53×	0.98×	0.84×	2.14×	2.55×
Cash conversion cycle (days)	144	61	88	63	89	27	107	112