Krystal Integrated (KRYSTAL.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

-208.3%

-₹618.71

vs ₹571.15 price

Levered DCF

₹275.13

After debt service

Piotroski score

2 / 9

Weak

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
P/E	11.04×	14.27×	26.99×	21.39×	37.92×	83.37×
P/B	1.42×	1×	2.46×	6.1×	6.08×	7.32×
P/S	0.56×	0.36×	0.9×	1.41×	1.8×	2.11×
EV / EBITDA	9.23×	6.57×	11.94×	17.33×	25.92×	48.57×
Gross margin	9.6%	10.4%	9.4%	95.4%	95.4%	95.6%
Operating margin	5.6%	9.1%	6.0%	7.7%	6.7%	10.4%
Net margin	5.0%	3.6%	3.3%	3.8%	4.8%	3.6%
Current ratio	2.01×	1.86×	1.91×	1.3×	1.37×	1.41×
Debt / equity	0.24×	0.21×	0.23×	0.31×	0.45×	0.5×
Interest coverage	4.47×	10.94×	5.03×	5.47×	4.16×	5.31×
Dividend yield	0.3%	0.5%	0.0%	0.0%	0.0%	0.0%
Payout ratio	3.3%	4.8%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021
Return on equity	12.9%	10.0%	9.1%	16.5%	16.0%	12.4%
Return on invested capital	9.8%	17.1%	11.3%	22.1%	12.0%	23.9%
Return on assets	7.6%	5.7%	5.3%	7.8%	6.5%	5.0%
Free cash flow yield	-0.2%	-14.6%	-1.1%	6.8%	1.0%	0.8%
Earnings yield	9.0%	10.0%	3.7%	2.7%	2.6%	1.7%
Enterprise value	₹7.7B	₹5.1B	₹9.3B	₹10.4B	₹10.7B	₹10.6B
Net debt / EBITDA	0.72×	0.93×	-0.01×	0.69×	1.78×	3.05×
Cash conversion cycle (days)	141	125	87	-82	-497	-479