Krowniq Limited (KROWNIQ.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

-59.9%

₹18.22

vs ₹45.45 price

Levered DCF

-₹19.84

After debt service

Piotroski score

4 / 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	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	14.11×	20.83×	23.57×	7.79×	23.4×	-7.8×	-15.31×	-18×
P/B	2.24×	1.6×	2.9×	4.45×	4.8×	5.45×	1.8×	2.38×
P/S	0.23×	0.18×	0.23×	0.27×	0.18×	0.83×	0.34×	0.3×
EV / EBITDA	13.98×	8.41×	14.88×	9.66×	-154.91×	-43.33×	34.92×	13.54×
Gross margin	12.0%	14.3%	11.6%	13.9%	11.9%	-0.1%	12.1%	17.7%
Operating margin	2.1%	2.0%	2.1%	13.6%	11.5%	3.7%	3.7%	3.7%
Net margin	1.6%	0.9%	1.0%	3.5%	0.7%	-10.6%	-2.3%	-1.6%
Current ratio	1.04×	1.56×	1.26×	1.17×	1.06×	1.09×	1.04×	1.21×
Debt / equity	2.61×	1.25×	2.82×	5.21×	9.55×	5.34×	3.04×	2.34×
Interest coverage	2.06×	1.02×	1.08×	10.52×	13.88×	1.19×	1.18×	2.82×
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	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	15.9%	7.7%	12.3%	57.0%	20.5%	-69.9%	-11.8%	-13.2%
Return on invested capital	4.5%	5.9%	6.7%	29.0%	29.7%	1.8%	4.7%	8.9%
Return on assets	3.4%	2.9%	2.7%	8.5%	1.8%	-7.6%	-2.5%	-2.5%
Free cash flow yield	-35.3%	104.5%	71.5%	-19.5%	-114.1%	-42.7%	30.1%	81.0%
Earnings yield	7.1%	4.8%	4.2%	12.8%	4.3%	-12.8%	-6.6%	-5.6%
Enterprise value	₹1.9B	₹896M	₹1.7B	₹2.6B	₹1.6B	₹998M	₹743.2M	₹836.4M
Net debt / EBITDA	7.28×	3.31×	7.02×	5.14×	-100.8×	-20.58×	21.26×	6.49×
Cash conversion cycle (days)	92	50	88	106	75	138	22	18