Manomay Tex India Limited (MANOMAY.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

+49.1%

₹365.39

vs ₹245.12 price

Levered DCF

-₹810.79

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

C+

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	21.65×	15.48×	23.49×	13.74×	24.1×	67.31×	24.72×	39.8×
P/B	2.49×	2.01×	2.37×	1.53×	2.74×	3.03×	2.85×	3.58×
P/S	0.6×	0.43×	0.52×	0.27×	0.33×	0.59×	0.42×	0.43×
EV / EBITDA	9.16×	7.32×	12.19×	7.33×	10.99×	15.47×	10.11×	12.48×
Gross margin	31.2%	42.0%	4.7%	36.5%	6.1%	12.0%	10.8%	3.8%
Operating margin	7.8%	36.8%	31.5%	1.4%	0.1%	3.4%	2.2%	2.8%
Net margin	2.8%	2.8%	2.2%	2.0%	1.4%	0.9%	1.7%	1.1%
Current ratio	1.37×	1.4×	1.41×	1.52×	1.34×	1.55×	1.39×	1.3×
Debt / equity	2.03×	2.22×	2.32×	1.25×	2.09×	1.53×	1.49×	2.09×
Interest coverage	1.8×	8.06×	10.31×	0.63×	0.04×	1.63×	1.11×	1.38×
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	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	11.5%	13.0%	10.1%	11.2%	11.4%	4.5%	11.6%	9.0%
Return on invested capital	7.9%	39.5%	32.4%	2.7%	0.1%	4.6%	5.4%	3.9%
Return on assets	2.9%	3.1%	2.2%	3.3%	2.4%	1.3%	3.4%	1.9%
Free cash flow yield	-5.6%	-5.7%	-46.2%	-2.0%	-9.0%	-1.2%	9.8%	-12.2%
Earnings yield	4.6%	6.5%	4.3%	7.3%	4.1%	1.5%	4.0%	2.5%
Enterprise value	₹7.7B	₹6.3B	₹6B	₹3.1B	₹3.3B	₹2.7B	₹2.5B	₹2.5B
Net debt / EBITDA	4.12×	3.83×	6.03×	3.11×	4.74×	5.01×	3.34×	4.49×
Cash conversion cycle (days)	165	153	120	83	80	117	80	69