Machhar Industries Limited (MACIND.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

-90.3%

₹38.81

vs ₹400.95 price

Levered DCF

₹195.10

After debt service

Piotroski score

—

Altman Z-score

—

Rating

B+

Overall 3 / 5

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	37.48×	115.98×	31.49×	10.68×	4.31×	1.59×	6.82×	7.23×
P/B	2.26×	1.92×	1.51×	0.34×	0.35×	0.37×	0.33×	0.35×
P/S	1.4×	1.12×	1.07×	0.22×	0.24×	0.27×	0.21×	0.21×
EV / EBITDA	14.92×	20.13×	11.54×	1.98×	0.25×	1.3×	2.38×	1.75×
Gross margin	81.4%	82.7%	28.9%	27.1%	32.8%	33.3%	29.7%	29.1%
Operating margin	4.8%	0.2%	3.5%	2.5%	4.9%	6.4%	1.1%	2.3%
Net margin	3.7%	1.0%	3.4%	2.1%	5.5%	16.8%	3.1%	2.9%
Current ratio	2.5×	2.56×	3.89×	2.9×	2.95×	1.72×	1.24×	1.32×
Debt / equity	0.25×	0.26×	0.09×	0.15×	0.01×	0.14×	0.22×	0.17×
Interest coverage	4.59×	0.16×	3.13×	2.01×	10.93×	5.65×	1.15×	2.67×
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	6.0%	1.7%	4.8%	3.2%	8.2%	23.0%	4.9%	4.8%
Return on invested capital	4.1%	0.3%	3.2%	2.6%	4.8%	7.3%	1.3%	2.5%
Return on assets	4.2%	1.2%	3.9%	2.4%	6.4%	16.3%	2.9%	2.8%
Free cash flow yield	2.7%	-0.0%	-2.9%	-52.9%	4.5%	24.6%	9.0%	-5.9%
Earnings yield	2.7%	0.9%	3.2%	9.4%	23.2%	62.9%	14.7%	13.8%
Enterprise value	₹207.6M	₹171.9M	₹167.4M	₹20.5M	₹4.6M	₹21.6M	₹27M	₹26.5M
Net debt / EBITDA	-0.78×	-0.5×	-1×	-1.74×	-1.89×	-1.02×	-1.01×	-0.79×
Cash conversion cycle (days)	105	97	34	-7	-11	-33	-45	-38