Mafatlal Industries Limited (MAFATIND.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

+1792.6%

₹2,129.16

vs ₹112.50 price

Levered DCF

₹2,290.76

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

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	8.66×	9.07×	9.44×	7.77×	8.51×	-1.3×	-6.32×	-0.84×
P/B	1.01×	1.19×	1.14×	0.47×	0.36×	0.26×	0.32×	0.31×
P/S	0.2×	0.31×	0.45×	0.21×	0.25×	0.2×	0.09×	0.15×
EV / EBITDA	6.52×	8.98×	7.6×	4.76×	4.82×	-4.39×	6.6×	-3.07×
Gross margin	8.6%	13.8%	12.5%	18.8%	17.8%	9.3%	17.3%	20.6%
Operating margin	2.4%	2.0%	1.4%	0.9%	-0.5%	-10.8%	-2.7%	-9.9%
Net margin	2.3%	3.5%	4.8%	2.7%	2.9%	-15.6%	-1.4%	-17.7%
Current ratio	1.25×	1.27×	1.11×	1.03×	0.98×	0.86×	1.02×	1.03×
Debt / equity	0.08×	0.09×	0.1×	0.15×	0.16×	0.32×	0.56×	0.42×
Interest coverage	10.72×	5.25×	1.91×	0.87×	-0.32×	-2.94×	-0.85×	-3.33×
Dividend yield	2.1%	0.8%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	18.0%	7.3%	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	11.7%	13.2%	12.1%	6.1%	4.2%	-20.1%	-5.1%	-36.5%
Return on invested capital	10.3%	7.0%	3.2%	1.6%	-0.6%	-10.3%	-6.0%	-13.8%
Return on assets	5.1%	7.0%	5.5%	3.2%	2.4%	-10.0%	-1.7%	-17.9%
Free cash flow yield	15.5%	-11.6%	16.4%	-7.8%	2.1%	4.2%	26.3%	-2.4%
Earnings yield	11.5%	11.1%	10.6%	12.9%	11.8%	-76.8%	-15.8%	-118.8%
Enterprise value	₹7.2B	₹9B	₹8.3B	₹3.3B	₹3B	₹2.3B	₹2.1B	₹3.5B
Net debt / EBITDA	-0.55×	0.19×	-0.92×	0.65×	0.94×	-2.1×	3.88×	-1.74×
Cash conversion cycle (days)	4	10	40	-140	-29	-19	4	25