KZ Leasing & Finance Ltd. (KZLFIN.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

-5429.5%

-₹853.25

vs ₹16.01 price

Levered DCF

-₹443.75

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

—

Rating

—

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	-29.79×	-34.55×	15.11×	14.18×	21.28×	19.18×	9.88×	59.35×
P/B	0.41×	0.34×	0.53×	0.24×	0.26×	0.17×	0.21×	0.25×
P/S	2.49×	9.39×	17.95×	5.98×	7.18×	4.43×	3.92×	6.61×
EV / EBITDA	43.61×	-4.52×	-7.36×	-10.44×	-8.55×	-18.79×	30.56×	-8.98×
Gross margin	-27.9%	-100.5%	-38.0%	30.7%	-1.9%	0.7%	22.4%	12.0%
Operating margin	69.2%	-273.6%	-408.0%	-127.6%	-155.1%	-73.3%	-38.5%	-77.2%
Net margin	-8.3%	-27.0%	118.8%	42.2%	33.7%	23.1%	39.4%	11.5%
Current ratio	0.16×	0.33×	0.08×	0.07×	0.33×	0.12×	0.04×	7,661.77×
Debt / equity	1.44×	0.11×	0.35×	0.29×	0.24×	0.36×	0.52×	0.01×
Interest coverage	2.08×	0×	0×	-50.06×	-2,064.4×	-314×	-123.88×	-88.83×
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	-1.4%	-1.0%	3.5%	1.7%	1.2%	0.9%	2.1%	0.4%
Return on invested capital	4.5%	-5.9%	-5.8%	-2.6%	-4.0%	-2.1%	-1.2%	-2.0%
Return on assets	-0.5%	-0.8%	2.2%	1.2%	0.9%	0.6%	1.3%	0.3%
Free cash flow yield	-73.3%	14.8%	-12.9%	0.6%	-9.7%	-18.3%	-10.4%	-11.6%
Earnings yield	-3.3%	-2.9%	6.6%	7.1%	4.7%	5.2%	10.1%	1.7%
Enterprise value	₹285.1M	₹84.9M	₹181.5M	₹89.5M	₹87.7M	₹87.4M	₹83.5M	₹31.8M
Net debt / EBITDA	33.91×	-1.05×	-2.94×	-5.7×	-3.89×	-12.67×	21.77×	-0.31×
Cash conversion cycle (days)	78	369	246	62	89	89	-1	-12