Kshitij Polyline Limited (KSHITIJPOL.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

-828.7%

-₹22.59

vs ₹3.10 price

Levered DCF

-₹42.67

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

C+

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	10.23×	-3.01×	13.72×	224.47×	76.37×	9,760×	40.73×	28.5×
P/B	0.57×	0.72×	1.09×	3.58×	1.72×	1.37×	1.26×	1.41×
P/S	0.8×	0.63×	0.37×	2.38×	0.81×	1.02×	0.71×	0.69×
EV / EBITDA	6.81×	-8.89×	11.55×	29.05×	12.86×	13.73×	11.34×	9.14×
Gross margin	32.3%	-11.7%	14.4%	32.8%	27.9%	26.8%	25.7%	23.6%
Operating margin	7.2%	-19.7%	4.6%	6.2%	6.8%	7.8%	7.9%	8.8%
Net margin	7.9%	-20.7%	2.7%	1.1%	1.1%	0.0%	1.7%	2.4%
Current ratio	2.79×	1.97×	1.2×	1.49×	1.59×	1.72×	1.76×	1.76×
Debt / equity	0.3×	0.42×	2.19×	0.94×	0.94×	0.91×	0.87×	0.81×
Interest coverage	2.25×	-3.27×	1.24×	1.3×	1.36×	1.08×	1.55×	1.86×
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	5.6%	-23.7%	7.9%	1.6%	2.3%	0.0%	3.0%	4.9%
Return on invested capital	3.5%	-15.3%	2.8%	2.9%	5.2%	0.1%	5.3%	5.4%
Return on assets	4.0%	-15.3%	2.2%	0.7%	1.0%	0.0%	1.5%	2.4%
Free cash flow yield	-28.5%	-51.1%	-74.7%	-3.4%	6.8%	5.5%	-3.2%	-27.1%
Earnings yield	9.9%	-33.1%	7.3%	0.5%	1.3%	0.0%	2.4%	3.5%
Enterprise value	₹545.1M	₹416.3M	₹658.5M	₹987.6M	₹487.7M	₹403.2M	₹379.6M	₹382.8M
Net debt / EBITDA	2.32×	-3.28×	7.68×	5.27×	4.48×	5.31×	4.56×	3.26×
Cash conversion cycle (days)	181	97	132	321	200	346	266	193