Mangalam Organics Limited (MANORG.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

-400.5%

-₹1,351.38

vs ₹449.75 price

Levered DCF

-₹2,276.77

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

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	12.38×	25.16×	57.13×	-10.46×	14.33×	9.17×	16.21×	10.76×
P/B	1×	1.08×	0.9×	1.03×	2.53×	3.09×	4.63×	6.44×
P/S	0.51×	0.6×	0.51×	0.58×	1.57×	2.3×	2.08×	1.84×
EV / EBITDA	7.6×	9.99×	10.84×	-195.4×	10.62×	6.23×	10.33×	7.49×
Gross margin	34.9%	48.4%	22.9%	14.2%	30.0%	50.7%	25.5%	27.9%
Operating margin	9.7%	7.1%	3.8%	-3.9%	33.3%	34.0%	20.7%	24.4%
Net margin	4.1%	2.4%	0.9%	-5.5%	11.0%	25.1%	12.8%	17.1%
Current ratio	1.14×	1.09×	1.24×	1.42×	1.76×	3.55×	3.29×	2.25×
Debt / equity	1.13×	0.93×	0.62×	0.69×	0.7×	0.1×	0.12×	0.41×
Interest coverage	2.14×	1.76×	1.21×	-1.39×	38.96×	114.74×	14.85×	28.52×
Dividend yield	0.0%	0.0%	0.0%	0.5%	0.2%	0.1%	0.1%	0.1%
Payout ratio	0.0%	0.0%	0.0%	-4.7%	2.4%	1.0%	2.1%	1.4%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	8.1%	4.3%	1.5%	-9.9%	17.7%	33.7%	28.6%	59.9%
Return on invested capital	6.8%	5.0%	4.1%	-3.3%	22.9%	30.2%	30.5%	42.1%
Return on assets	3.5%	2.0%	0.9%	-5.4%	9.6%	27.2%	22.3%	37.7%
Free cash flow yield	-28.4%	-23.7%	13.0%	12.7%	-23.9%	-0.4%	4.4%	0.2%
Earnings yield	8.1%	4.0%	1.7%	-9.6%	7.0%	10.9%	6.2%	9.3%
Enterprise value	₹6.8B	₹5.9B	₹4.2B	₹4.7B	₹9.8B	₹8B	₹8B	₹8.3B
Net debt / EBITDA	4.02×	4.61×	4.4×	-78.03×	2.29×	0.18×	0.25×	0.43×
Cash conversion cycle (days)	274	269	162	171	257	217	112	101