Mawana Sugars Limited (MAWANASUG.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

+157.9%

₹394.64

vs ₹153.00 price

Levered DCF

-₹448.57

After debt service

Piotroski score

6 / 9

Average

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	9.97×	3.26×	9.26×	26.82×	19.84×	1.91×	-1.07×	4.41×
P/B	0.7×	0.72×	0.85×	0.92×	1.35×	0.38×	0.3×	0.47×
P/S	0.24×	0.25×	0.26×	0.24×	0.36×	0.1×	0.08×	0.15×
EV / EBITDA	7.18×	5.74×	7.69×	9.02×	8.74×	1.55×	7.53×	3.05×
Gross margin	12.6%	22.9%	17.5%	14.8%	15.2%	11.8%	10.1%	11.4%
Operating margin	4.7%	6.1%	4.1%	2.8%	13.5%	-0.9%	-0.0%	7.3%
Net margin	2.4%	7.6%	2.8%	0.9%	1.8%	5.2%	-7.6%	3.5%
Current ratio	1.56×	1.5×	1.26×	1.23×	1.3×	1.17×	1.11×	1.09×
Debt / equity	0.8×	0.85×	1.38×	1×	1.08×	0.75×	1.65×	0.63×
Interest coverage	3.33×	3×	1.87×	1.5×	7.64×	-0.37×	-0.02×	3.5×
Dividend yield	1.1%	7.7%	3.4%	3.3%	2.3%	0.0%	0.0%	0.0%
Payout ratio	10.5%	25.0%	31.2%	89.3%	44.9%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	7.1%	22.2%	9.2%	3.4%	6.8%	19.8%	-28.0%	10.6%
Return on invested capital	5.7%	8.1%	4.0%	4.6%	16.7%	-1.5%	-0.1%	7.7%
Return on assets	3.3%	10.0%	3.2%	1.3%	2.5%	5.3%	-5.6%	2.9%
Free cash flow yield	5.7%	26.0%	-55.8%	20.7%	-31.2%	96.7%	-205.1%	-70.9%
Earnings yield	10.0%	30.7%	10.8%	3.7%	5.0%	52.5%	-93.4%	22.7%
Enterprise value	₹7.5B	₹7.5B	₹9.1B	₹7.1B	₹9B	₹3.3B	₹5.3B	₹3.8B
Net debt / EBITDA	3.65×	3.03×	4.73×	4.54×	3.72×	0.89×	6.27×	1.64×
Cash conversion cycle (days)	195	231	250	150	157	57	144	55