Markolines Pavement Technologies Ltd. (MARKOLINES.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

-323.7%

-₹400.94

vs ₹179.27 price

Levered DCF

-₹905.61

After debt service

Piotroski score

—

Altman Z-score

—

Rating

C-

Overall 1 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	11.92×	16.49×	18.49×	20.33×	27.56×	58.38×	32.6×	93.08×
P/B	1.54×	2.12×	3.15×	3.73×	3.92×	9.44×	11.67×	18.17×
P/S	0.9×	1.22×	0.92×	1.03×	1.88×	1.49×	1.37×	3.21×
EV / EBITDA	9.88×	11.1×	11.63×	12.83×	14.01×	20.12×	15.29×	29.6×
Gross margin	70.1%	63.4%	55.6%	71.6%	76.6%	32.2%	32.6%	34.7%
Operating margin	9.5%	10.1%	7.9%	8.0%	14.0%	6.9%	8.8%	9.2%
Net margin	7.5%	7.3%	5.0%	5.0%	6.8%	2.5%	4.2%	3.4%
Current ratio	1.68×	2.2×	1.69×	1.84×	2.55×	1.48×	1.58×	1.51×
Debt / equity	0.43×	0.36×	0.58×	0.36×	0.38×	1.43×	1.85×	2.91×
Interest coverage	5.17×	4.4×	5.42×	7.6×	4.75×	2.49×	3×	2.13×
Dividend yield	1.1%	0.5%	0.4%	0.3%	0.0%	0.0%	0.0%	0.0%
Payout ratio	12.6%	8.5%	7.6%	6.1%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	12.9%	12.8%	17.0%	18.3%	14.2%	16.2%	35.8%	19.5%
Return on invested capital	8.6%	9.7%	11.6%	14.9%	14.4%	11.1%	18.0%	9.2%
Return on assets	7.7%	7.1%	7.2%	8.4%	7.5%	3.7%	8.0%	3.4%
Free cash flow yield	-0.6%	-12.2%	-4.6%	1.5%	-7.6%	-2.1%	0.6%	-7.1%
Earnings yield	8.4%	6.0%	5.4%	4.9%	3.6%	1.7%	3.1%	1.1%
Enterprise value	₹4B	₹4.2B	₹3.8B	₹3.5B	₹3B	₹2.7B	₹2.7B	₹2.7B
Net debt / EBITDA	2.1×	1.27×	1.79×	1.11×	1.16×	2.63×	2.08×	4.05×
Cash conversion cycle (days)	125	97	57	44	191	102	87	155