Madhya Bharat Agro Products Limited (MBAPL.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

-6001.5%

-₹10,808.63

vs ₹183.15 price

Levered DCF

-₹3,453.74

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	26.85×	43.82×	86.16×	20.05×	15.55×	10.69×	9.73×	14.06×
P/B	7.34×	6.24×	6.11×	7.58×	4.32×	1.45×	1.11×	1.46×
P/S	2.16×	2.38×	4.35×	4.9×	3.13×	1.65×	1.63×	1.46×
EV / EBITDA	21.48×	18.1×	-11.26×	-10.67×	-10.33×	-22.63×	5.25×	6.61×
Gross margin	22.6%	32.0%	-34.5%	-43.8%	-27.5%	1.8%	19.6%	46.9%
Operating margin	10.2%	10.5%	-51.5%	-56.2%	-42.0%	-16.8%	27.7%	16.6%
Net margin	8.0%	5.4%	5.0%	24.4%	20.1%	15.4%	16.8%	10.4%
Current ratio	1.44×	1.45×	1.38×	1.58×	1.51×	1.5×	2.62×	2×
Debt / equity	1.56×	0.79×	0.83×	0.98×	0.8×	0.47×	0.31×	0.23×
Interest coverage	5.86×	3.97×	-10.05×	-17.38×	-15.8×	-5.81×	7.98×	5.31×
Dividend yield	0.1%	0.2%	0.1%	0.0%	0.1%	0.5%	0.9%	0.6%
Payout ratio	2.9%	7.6%	8.8%	0.9%	1.9%	5.4%	8.9%	9.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	27.3%	14.2%	7.1%	37.8%	27.8%	13.6%	11.4%	10.4%
Return on invested capital	10.9%	8.2%	-16.9%	-28.5%	-21.8%	-7.0%	9.8%	9.9%
Return on assets	8.9%	6.1%	3.1%	16.7%	13.0%	7.7%	7.8%	7.4%
Free cash flow yield	-13.8%	-0.5%	2.0%	-5.6%	-9.6%	-12.2%	-5.7%	8.0%
Earnings yield	3.7%	2.3%	1.2%	5.0%	6.4%	9.4%	10.3%	7.1%
Enterprise value	₹48.7B	₹28.4B	₹24.3B	₹28.1B	₹10.5B	₹2.9B	₹1.8B	₹2B
Net debt / EBITDA	3.67×	2.03×	-1.34×	-1.2×	-1.61×	-5.52×	1.12×	0.89×
Cash conversion cycle (days)	141	133	242	281	218	168	255	163