Loyal Equipments Limited (LOYAL.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

+144.5%

₹310.01

vs ₹126.80 price

Levered DCF

-₹36.84

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

5.46

Safe 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	24.55×	21.37×	22.99×	9.74×	-5.88×	32.39×	13.14×	8.03×
P/B	2.92×	5.43×	5.51×	2.58×	1.82×	1.34×	1.82×	2.02×
P/S	2.09×	3.65×	2.3×	1.18×	0.93×	1.07×	1.11×	0.87×
EV / EBITDA	13.78×	16.32×	13.15×	7.21×	-27.13×	10.38×	7.27×	5.35×
Gross margin	34.9%	45.7%	28.9%	30.6%	13.4%	33.1%	35.5%	30.0%
Operating margin	12.1%	36.4%	14.9%	14.8%	-11.9%	35.2%	14.7%	15.6%
Net margin	8.5%	14.1%	10.0%	12.1%	-15.9%	3.3%	8.5%	10.9%
Current ratio	1.85×	2.51×	1.93×	1.54×	1.26×	1.53×	1.75×	1.86×
Debt / equity	0.31×	0.21×	0.47×	0.62×	1.08×	0.82×	0.45×	0.43×
Interest coverage	5.33×	32.1×	7.91×	5.37×	-2.42×	7.29×	4.64×	9.91×
Dividend yield	0.7%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	16.0%	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	11.9%	21.0%	24.0%	26.5%	-31.0%	4.1%	13.8%	25.1%
Return on invested capital	9.3%	34.9%	18.0%	18.9%	-10.6%	15.4%	12.4%	18.1%
Return on assets	7.3%	14.1%	13.1%	11.6%	-11.2%	1.7%	7.7%	14.6%
Free cash flow yield	-11.5%	-0.7%	4.4%	10.6%	-4.0%	-15.1%	-1.7%	-9.6%
Earnings yield	4.1%	3.9%	4.3%	10.3%	-17.0%	3.1%	7.6%	12.4%
Enterprise value	₹1.8B	₹2.7B	₹1.7B	₹698.6M	₹476.5M	₹434.5M	₹448.7M	₹416.9M
Net debt / EBITDA	1.31×	-0.12×	0.43×	1.21×	-10×	3.44×	1.15×	0.7×
Cash conversion cycle (days)	224	223	164	210	206	313	280	179