Kothari Products Limited (KOTHARIPRO.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

-136.3%

-₹21.79

vs ₹60.00 price

Levered DCF

₹383.63

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

Overall 3 / 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	11.27×	-4.43×	11.01×	32.79×	25.99×	-1.68×	1.47×	1.05×
P/B	0.3×	0.39×	0.15×	0.15×	0.18×	0.09×	0.04×	0.11×
P/S	0.34×	0.44×	0.18×	0.12×	0.06×	0.03×	0.01×	0.02×
EV / EBITDA	8.16×	-7.38×	8.16×	18.17×	9.27×	212.6×	11.14×	5.57×
Gross margin	1.1%	1.1%	1.4%	1.5%	1.0%	0.9%	0.8%	6.1%
Operating margin	-5.0%	-9.2%	0.7%	-0.7%	0.2%	0.0%	1.1%	3.5%
Net margin	3.1%	-9.9%	3.3%	0.4%	0.4%	-1.8%	0.8%	2.2%
Current ratio	3.85×	3.98×	12.67×	6.06×	3.5×	2.13×	2.23×	1.76×
Debt / equity	0.09×	0.24×	0.07×	0.24×	0.32×	0.97×	0.94×	1.01×
Interest coverage	-5.06×	-15.52×	1.09×	-0.8×	0.27×	0.02×	0.89×	3.45×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	5.8%	3.5%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	8.6%	3.6%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	2.7%	-8.7%	2.7%	0.4%	1.4%	-5.3%	3.0%	10.9%
Return on invested capital	-3.4%	-6.2%	0.5%	-0.4%	0.5%	0.0%	1.2%	6.8%
Return on assets	2.3%	-6.4%	2.4%	0.4%	0.8%	-2.2%	1.2%	3.8%
Free cash flow yield	-20.2%	23.1%	89.0%	139.8%	350.1%	126.4%	-124.9%	-999.3%
Earnings yield	8.9%	-22.6%	18.1%	3.0%	7.7%	-59.6%	67.9%	95.7%
Enterprise value	₹4.2B	₹6B	₹2.3B	₹4.1B	₹4.9B	₹10.5B	₹11.4B	₹11.6B
Net debt / EBITDA	1.33×	-2.17×	1.8×	10.67×	5.68×	193.44×	10.64×	4.95×
Cash conversion cycle (days)	156	239	238	18	107	190	156	94