Ksolves India Limited (KSOLVES.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

+637.6%

₹1,527.00

vs ₹207.01 price

Levered DCF

₹1,359.69

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

23.13

Safe zone

Rating

Overall 4 / 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	17.1×	30.28×	40.66×	21.2×	26.46×	10.75×	3.41×	0.21×
P/B	19.98×	50.07×	58.25×	23.43×	25.21×	7.19×	2.63×	0.74×
P/S	3.61×	7.56×	12.78×	6.7×	8.93×	3.4×	0.23×	0.03×
EV / EBITDA	11.91×	50.1×	29.52×	15.31×	19.36×	7.13×	2.04×	0.35×
Gross margin	50.6%	46.9%	57.7%	54.1%	60.7%	66.1%	55.0%	53.5%
Operating margin	27.7%	34.1%	55.2%	41.8%	42.4%	43.0%	9.5%	4.9%
Net margin	21.1%	25.0%	31.4%	31.6%	33.8%	31.7%	6.7%	2.9%
Current ratio	2.4×	1.69×	2.64×	3.1×	3.49×	4.33×	0.58×	0.65×
Debt / equity	0.19×	0.69×	0×	0×	0×	0.01×	0.22×	0×
Interest coverage	52.75×	164.72×	956.11×	2,681.25×	882.54×	706.44×	56.84×	15.46×
Dividend yield	4.4%	3.5%	2.3%	3.6%	2.9%	1.5%	10.4%	108.1%
Payout ratio	76.0%	107.1%	95.5%	76.1%	77.3%	16.6%	35.2%	98.4%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	116.8%	165.4%	143.3%	110.4%	95.3%	66.9%	77.4%	80.8%
Return on invested capital	79.1%	89.1%	172.5%	103.4%	87.7%	66.1%	67.6%	96.4%
Return on assets	55.3%	60.9%	86.3%	72.5%	67.3%	51.9%	32.4%	22.9%
Free cash flow yield	4.8%	2.6%	2.2%	3.8%	2.3%	5.0%	21.8%	87.2%
Earnings yield	5.8%	3.3%	2.5%	4.7%	3.8%	9.3%	29.4%	109.8%
Enterprise value	₹5.9B	₹10.4B	₹13.8B	₹5.2B	₹4.1B	₹880.4M	₹24.4M	₹1M
Net debt / EBITDA	-0.03×	0.18×	-0.16×	-0.25×	-0.32×	-0.65×	0.11×	-0.14×
Cash conversion cycle (days)	67	54	52	66	61	49	-32	0