Kwality Pharmaceuticals Limited (KPL.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

-80.9%

₹696.90

vs ₹3,647.65 price

Levered DCF

-₹37.92

After debt service

Piotroski score

4 / 9

Average

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	20.13×	22.27×	18.73×	16.47×	5.02×	3.84×	3.19×	5.09×
P/B	4.09×	3.36×	1.99×	1.59×	3.32×	0.95×	0.58×	1.03×
P/S	2.69×	2.4×	1.45×	1.27×	1.32×	0.22×	0.19×	0.23×
EV / EBITDA	12.56×	12×	8.87×	6.45×	3.69×	3.07×	3.36×	4.03×
Gross margin	33.9%	50.7%	46.8%	30.0%	44.6%	34.6%	35.1%	26.7%
Operating margin	19.6%	38.9%	15.2%	19.2%	35.7%	9.1%	9.3%	7.6%
Net margin	13.4%	10.8%	7.7%	7.7%	26.3%	5.8%	6.0%	4.5%
Current ratio	1.8×	1.67×	1.6×	1.65×	1.63×	1.35×	1.31×	1.24×
Debt / equity	0.39×	0.43×	0.44×	0.45×	0.3×	0.67×	0.76×	0.77×
Interest coverage	8.97×	14.57×	4.5×	7.28×	55.84×	8.96×	5.19×	5.56×
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	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	20.3%	15.1%	10.6%	9.7%	66.2%	24.8%	18.1%	20.2%
Return on invested capital	15.8%	28.2%	11.1%	12.5%	51.5%	15.1%	10.9%	13.4%
Return on assets	11.4%	8.9%	6.0%	5.5%	35.2%	9.1%	6.3%	7.2%
Free cash flow yield	-2.9%	3.3%	2.9%	-2.0%	0.9%	5.7%	-55.1%	4.6%
Earnings yield	5.0%	4.5%	5.3%	6.1%	19.9%	26.1%	31.4%	19.6%
Enterprise value	₹14.9B	₹9.9B	₹5.4B	₹4.1B	₹6.5B	₹935.3M	₹599.4M	₹657.7M
Net debt / EBITDA	1.1×	1.22×	1.57×	1.38×	0.26×	1.16×	1.87×	1.68×
Cash conversion cycle (days)	177	207	232	221	83	31	77	67