Lerthai Finance Ltd. (LERTHAI.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

-70.8%

₹119.36

vs ₹409.00 price

Levered DCF

₹104.62

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

41.95

Safe zone

Rating

—

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-82.54×	-2,156.11×	36.13×	26.71×	-39.03×	-29.72×	-32.16×	-35.17×
P/B	3.62×	4×	2.71×	1.96×	2.12×	2.01×	1.88×	1.78×
P/S	122.58×	0×	0×	15.46×	0×	0×	0×	0×
EV / EBITDA	-71.56×	-66.89×	56.96×	25.96×	-25.87×	-24.76×	-39.56×	-14.62×
Gross margin	98.8%	0.0%	0.0%	96.7%	0.0%	0.0%	0.0%	0.0%
Operating margin	-138.6%	0.0%	0.0%	42.0%	0.0%	0.0%	0.0%	0.0%
Net margin	-148.6%	0.0%	0.0%	57.9%	0.0%	0.0%	0.0%	0.0%
Current ratio	30.34×	38.24×	62.19×	73.22×	48.55×	50.59×	59.67×	33.85×
Debt / equity	0×	0×	0×	0×	0×	0×	0.01×	0×
Interest coverage	0×	0×	0×	0×	0×	0×	0×	0×
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	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-4.4%	-0.2%	7.5%	7.3%	-5.4%	-6.8%	-5.9%	-5.1%
Return on invested capital	-4.0%	-0.7%	3.5%	4.3%	-7.6%	-10.3%	-14.2%	-9.7%
Return on assets	-4.2%	-0.2%	7.2%	7.2%	-5.3%	-6.6%	-5.7%	-4.9%
Free cash flow yield	-1.8%	-1.1%	-2.4%	-5.2%	-2.9%	-5.7%	-3.1%	1.2%
Earnings yield	-1.2%	-0.0%	2.8%	3.7%	-2.6%	-3.4%	-3.1%	-2.8%
Enterprise value	₹281.2M	₹381.3M	₹269.9M	₹129.9M	₹171.1M	₹178.4M	₹175M	₹171.6M
Net debt / EBITDA	17.68×	4.21×	-0.96×	-10.83×	1.96×	0.8×	2.06×	1.07×
Cash conversion cycle (days)	-23,875	-1,735	-1,019	-1,092	-1,519	-1,657	-1,635	-4,330