Lakshmi Electrical Control Systems Limited (LAKSELEC.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

-78.6%

₹172.05

vs ₹805.00 price

Levered DCF

-₹74.23

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

1.82

Grey zone

Rating

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	FY2020	FY2019
P/E	155.25×	66.36×	28.46×	9.2×	9.6×	24.28×	117.7×	12.91×
P/B	0.72×	0.81×	1.41×	0.79×	0.7×	0.42×	0.37×	0.77×
P/S	0.78×	1.09×	1.18×	0.51×	0.58×	0.56×	0.44×	0.69×
EV / EBITDA	33.22×	49.77×	17.9×	6.32×	6.65×	17.35×	15.92×	9.02×
Gross margin	8.8%	23.7%	18.5%	18.8%	19.8%	21.9%	21.1%	20.4%
Operating margin	-1.1%	10.5%	3.9%	6.9%	7.1%	1.5%	-1.9%	4.8%
Net margin	0.5%	1.6%	4.1%	5.5%	6.0%	2.3%	0.4%	5.3%
Current ratio	1.74×	2.17×	2.51×	1.84×	2×	1.93×	2.62×	2.8×
Debt / equity	0.06×	0.04×	0.02×	0.03×	0.03×	0.06×	0×	0.03×
Interest coverage	-3.07×	41.88×	24.78×	45.91×	42.42×	21.87×	-71.7×	672.48×
Dividend yield	0.6%	1.6%	1.4%	2.0%	0.6%	0.2%	5.3%	2.2%
Payout ratio	86.7%	105.7%	38.7%	18.4%	5.7%	4.5%	620.1%	29.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	0.5%	1.2%	5.0%	8.6%	7.3%	1.7%	0.3%	6.0%
Return on invested capital	-0.8%	4.3%	3.2%	7.3%	6.0%	1.0%	-0.7%	4.0%
Return on assets	0.3%	1.0%	4.1%	6.4%	5.6%	1.4%	0.3%	5.1%
Free cash flow yield	-0.7%	-1.3%	1.9%	-3.4%	1.9%	-14.0%	-5.3%	3.9%
Earnings yield	0.6%	1.5%	3.5%	10.9%	10.4%	4.1%	0.9%	7.7%
Enterprise value	₹2B	₹2.4B	₹4B	₹1.9B	₹1.5B	₹849.7M	₹506M	₹1.4B
Net debt / EBITDA	2.36×	2.1×	0.29×	0.25×	0.26×	2.19×	0.11×	0.34×
Cash conversion cycle (days)	82	104	71	63	76	124	112	86