Maithan Alloys Limited (MAITHANALL.NS) 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

+304.9%

₹3,191.22

vs ₹788.10 price

Levered DCF

₹198.61

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

3.11

Safe zone

Rating

Overall 2 / 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	5.59×	4.17×	8.52×	4.67×	4.72×	6.78×	4.61×	5.91×
P/B	0.58×	0.7×	0.95×	0.83×	1.66×	1.03×	0.79×	1.36×
P/S	1.12×	1.46×	1.72×	0.81×	1.32×	0.99×	0.59×	0.8×
EV / EBITDA	3.81×	3.52×	6.28×	3.42×	3.43×	5.01×	1.37×	4.27×
Gross margin	21.0%	21.2%	18.2%	32.2%	47.2%	25.1%	13.0%	20.1%
Operating margin	10.9%	8.5%	15.6%	19.8%	35.5%	17.3%	12.5%	14.6%
Net margin	20.0%	34.9%	20.2%	17.3%	28.0%	14.6%	12.8%	13.6%
Current ratio	6.24×	3.97×	12.06×	9.49×	6.07×	4.88×	6.72×	3.34×
Debt / equity	0.06×	0.16×	0.01×	0.01×	0×	0.03×	0.01×	0.01×
Interest coverage	5.35×	7.08×	165.09×	162.03×	300.93×	85.46×	36.83×	33.51×
Dividend yield	1.6%	1.0%	0.6%	0.8%	0.5%	0.0%	4.1%	0.7%
Payout ratio	8.8%	4.2%	5.0%	3.5%	2.1%	0.0%	19.0%	4.1%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	10.5%	16.8%	11.1%	17.8%	35.2%	15.2%	17.2%	22.9%
Return on invested capital	3.8%	2.5%	6.5%	15.7%	33.2%	13.0%	12.9%	18.7%
Return on assets	8.9%	13.0%	10.1%	15.9%	29.7%	12.2%	14.6%	16.8%
Free cash flow yield	-0.7%	0.7%	-16.2%	41.1%	3.1%	7.4%	-4.8%	20.4%
Earnings yield	17.9%	24.0%	11.7%	21.4%	21.2%	14.8%	21.7%	16.9%
Enterprise value	₹25.6B	₹31.6B	₹29.6B	₹22.6B	₹37.8B	₹15.9B	₹4.1B	₹15B
Net debt / EBITDA	0.19×	0.59×	-0.03×	-0.11×	-0.08×	0.09×	-2.06×	-0.03×
Cash conversion cycle (days)	269	274	156	96	208	161	115	56