Manali Petrochemicals Limited (MANALIPETC.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

+49.3%

₹105.04

vs ₹70.33 price

Levered DCF

₹87.34

After debt service

Piotroski score

5 / 9

Average

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	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	5.21×	34.34×	54.2×	20.44×	4.89×	5.06×	3.73×	5.95×
P/B	0.53×	0.92×	0.98×	0.99×	1.81×	1.5×	0.36×	1×
P/S	0.66×	1.12×	1.01×	0.88×	1.12×	1×	0.22×	0.56×
EV / EBITDA	1.05×	17.04×	11.43×	7.3×	2.49×	2.68×	2.6×	4.28×
Gross margin	13.5%	24.2%	18.3%	29.1%	44.8%	45.2%	29.2%	33.8%
Operating margin	4.7%	3.9%	3.1%	5.0%	30.5%	27.6%	7.1%	11.2%
Net margin	12.7%	3.3%	1.9%	4.3%	22.9%	19.8%	5.8%	9.4%
Current ratio	4.51×	3.31×	4.31×	4.58×	4.92×	3.25×	2.46×	2.03×
Debt / equity	0.11×	0.12×	0.1×	0.08×	0.08×	0.07×	0.13×	0.07×
Interest coverage	3.56×	3.35×	3.38×	6.34×	66.66×	59.7×	9.06×	38.77×
Dividend yield	1.3%	1.3%	1.2%	4.1%	1.4%	1.3%	9.0%	1.9%
Payout ratio	6.6%	44.0%	67.2%	84.9%	6.8%	6.4%	33.3%	11.3%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	10.1%	2.7%	1.8%	4.9%	37.0%	29.6%	9.7%	16.8%
Return on invested capital	2.9%	2.0%	1.6%	3.7%	33.7%	28.7%	8.7%	11.7%
Return on assets	8.1%	2.1%	1.5%	4.0%	29.5%	22.7%	7.1%	11.7%
Free cash flow yield	8.1%	-11.9%	3.6%	4.6%	18.6%	19.0%	33.4%	-1.2%
Earnings yield	19.2%	2.9%	1.8%	4.9%	20.4%	19.7%	26.9%	16.8%
Enterprise value	₹2.1B	₹9.5B	₹7.8B	₹7.4B	₹13.4B	₹7.9B	₹1.8B	₹4.3B
Net debt / EBITDA	-2.37×	-1.09×	-3.82×	-2.91×	-0.98×	-0.79×	0.12×	-0.21×
Cash conversion cycle (days)	77	100	64	70	32	54	71	85