KRBL Limited (KRBL.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

+85.2%

₹732.98

vs ₹395.70 price

Levered DCF

₹1,314.00

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

—

Rating

B+

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	9.97×	13.43×	12.05×	11.61×	10.33×	7.56×	5.69×	16×
P/B	1.11×	1.22×	1.48×	1.73×	1.17×	1.14×	1.01×	2.95×
P/S	1.06×	1.14×	1.34×	1.52×	1.13×	1.06×	0.71×	1.95×
EV / EBITDA	6.69×	9.03×	8.57×	8.11×	6.67×	5.25×	4.18×	11.06×
Gross margin	22.5%	24.7%	24.9%	28.5%	27.3%	30.4%	22.4%	24.3%
Operating margin	13.3%	10.6%	13.5%	16.3%	14.0%	18.9%	17.8%	19.6%
Net margin	10.6%	8.5%	11.1%	13.1%	10.9%	14.0%	12.4%	12.2%
Current ratio	8.06×	6.26×	5.4×	6.35×	7.38×	4.68×	3.02×	2.07×
Debt / equity	0.03×	0.08×	0.11×	0.05×	0.04×	0.1×	0.18×	0.52×
Interest coverage	97.81×	40.77×	31.47×	59.17×	43.87×	31.91×	12.8×	13.77×
Dividend yield	1.2%	1.4%	0.3%	1.0%	1.7%	0.2%	3.7%	0.7%
Payout ratio	12.4%	19.2%	4.0%	11.8%	17.9%	1.4%	21.0%	10.8%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	11.2%	9.1%	12.3%	14.9%	11.3%	15.1%	17.8%	18.4%
Return on invested capital	9.9%	7.6%	9.8%	12.8%	10.0%	13.3%	15.3%	12.9%
Return on assets	9.8%	7.6%	10.1%	12.5%	9.7%	12.1%	12.6%	10.8%
Free cash flow yield	13.9%	13.5%	2.0%	-5.2%	10.9%	8.1%	36.8%	-1.7%
Earnings yield	10.0%	7.4%	8.3%	8.6%	9.7%	13.2%	17.6%	6.2%
Enterprise value	₹65.1B	₹66.4B	₹77B	₹83.6B	₹47B	₹44.4B	₹37.3B	₹94.7B
Net debt / EBITDA	0.05×	0.34×	0.58×	0.21×	-0.06×	0.25×	0.62×	1.66×
Cash conversion cycle (days)	304	354	414	407	341	377	279	376