Mac Charles (India) Limited (MCCHRLS-B.BO) 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

-559.9%

-₹2,989.63

vs ₹650.00 price

Levered DCF

-₹8,061.67

After debt service

Piotroski score

4 / 9

Average

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	-6.74×	-6.74×	-9.2×	12.35×	4.73×	1,002.75×	-30.55×	18.69×
P/B	-74.64×	6.96×	3.47×	2.18×	2.83×	6.78×	6.84×	4.79×
P/S	7.1×	72.52×	54.33×	48.53×	49.79×	64.78×	33×	31.03×
EV / EBITDA	26.97×	-228.07×	262.18×	12.62×	5.42×	40.2×	39.06×	15.57×
Gross margin	67.7%	-90.3%	72.4%	74.7%	75.5%	75.0%	72.2%	75.0%
Operating margin	53.1%	-286.8%	-132.1%	-42.2%	73.9%	105.9%	-13.0%	-64.0%
Net margin	-105.4%	-1076.0%	-590.3%	393.1%	1052.7%	6.5%	-108.1%	166.0%
Current ratio	3.5×	7.86×	21.72×	23.78×	1.29×	1.83×	0.48×	0.29×
Debt / equity	-143.59×	10.26×	4.72×	2.21×	0.66×	1.55×	1.56×	1.52×
Interest coverage	0.45×	-0.29×	-0.2×	-0.14×	1.31×	0.83×	-0.12×	-0.69×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	3.0%	3.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	-91.8%	56.2%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	1107.5%	-103.2%	-37.8%	17.7%	59.8%	0.7%	-22.4%	25.6%
Return on invested capital	3.8%	-2.4%	-1.4%	-0.5%	2.5%	3.7%	-0.7%	-2.3%
Return on assets	-7.4%	-9.0%	-6.5%	5.4%	26.1%	0.2%	-7.7%	5.5%
Free cash flow yield	-39.2%	-48.8%	-19.7%	-35.2%	-34.3%	-0.8%	6.5%	2.4%
Earnings yield	-14.8%	-14.8%	-10.9%	8.1%	21.1%	0.1%	-3.3%	5.4%
Enterprise value	₹21.3B	₹17.6B	₹14.4B	₹10.5B	₹5.5B	₹6.4B	₹6.4B	₹6.9B
Net debt / EBITDA	17.07×	-135.6×	150.96×	6.3×	0.27×	7.42×	7.2×	3.73×
Cash conversion cycle (days)	2,481	1,950	28	443	-495	-209	-107	626