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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
-159.4%
-₹7.85
vs ₹13.22 price
Levered DCF
-₹28.31
After debt service
Piotroski score
3 / 9
Weak
Altman Z-score
—
Rating
C+
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-7.94×12.04×15.63×14.62×-1.81×-1.15×-0.29×-1.09×
P/B-0.66×-1.54×-1.68×-1.44×-0.19×-0.21×-0.26×-2.52×
P/S14.71×5.39×2.95×2.61×47.1×12.43×68.4×33.44×
EV / EBITDA-39.77×15.68×18.22×16.84×21.29×-59.88×-1.29×-23.67×
Gross margin-185.0%8.0%31.6%30.3%-3309.5%168.6%-21047.6%-2732.5%
Operating margin-185.0%-11.9%19.1%18.3%-4198.2%-1078.1%-21945.6%-3060.7%
Net margin-185.3%45.5%18.9%17.9%-2608.5%-1079.0%-23608.5%-3061.2%
Current ratio4.08×4.2×2.77×1.84×2.47×3.28×1.56×1.62×
Debt / equity-1.13×-1.16×-0.99×-0.85×-0.79×-0.75×-0.61×-4.5×
Interest coverage-692.9×-523.35×93×45.89×-402.71×-1,131.04×-98.12×-5,411.33×
Dividend yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Payout ratio0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity8.3%-13.0%-10.8%-9.8%10.5%18.4%89.7%230.9%
Return on invested capital-6.2%-2.3%8.7%11.1%-22.5%-13.6%-53.6%-10.7%
Return on assets-5.5%7.7%7.3%9.7%-12.7%-12.0%-45.2%-8.4%
Free cash flow yield-6.0%-19.4%-5.4%12.0%176.4%-124.4%-165.0%-4.4%
Earnings yield-12.6%8.4%6.4%6.8%-55.4%-86.8%-345.1%-91.6%
Enterprise value₹599.4M₹832M₹930.9M₹881.8M₹415.4M₹365M₹269.2M₹223.6M
Net debt / EBITDA-25.15×6.74×6.77×6.23×17.17×-46.69×-0.9×-15.16×
Cash conversion cycle (days)4,9991,2173399212,78613,26366,989588