Mehai Technology Limited (MEHAI.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

-15253.5%

-₹157.60

vs ₹1.04 price

Levered DCF

-₹99.03

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

—

Rating

B-

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	11.3×	57.41×	8.38×	3.83×	17.04×	24.92×	-47×	13.6×
P/B	0.4×	4.38×	0.09×	0.15×	0.35×	0.17×	0.25×	0.24×
P/S	0.7×	3.6×	0.26×	0.23×	0.76×	0.43×	0.13×	0.15×
EV / EBITDA	7.73×	34.99×	5.76×	2.63×	8.66×	7.55×	15.8×	5.76×
Gross margin	19.8%	23.2%	25.3%	22.0%	22.2%	18.7%	3.9%	5.7%
Operating margin	11.8%	10.6%	22.2%	10.7%	5.6%	1.7%	-0.9%	0.5%
Net margin	6.2%	6.3%	3.9%	5.9%	4.5%	1.7%	-0.3%	1.1%
Current ratio	2.44×	1.81×	1.04×	2.32×	5.88×	4.74×	3.12×	2.96×
Debt / equity	0.29×	0.39×	0.21×	0.11×	0.01×	0.01×	0×	0.04×
Interest coverage	3.23×	5.31×	3.81×	29.25×	30.86×	39.29×	-1.73×	1.18×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.1%	0.4%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	-3.2%	5.1%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	3.5%	7.6%	1.4%	3.8%	2.1%	0.7%	-0.6%	1.7%
Return on invested capital	3.6%	6.6%	3.7%	3.6%	1.9%	0.5%	-1.2%	0.4%
Return on assets	2.6%	5.2%	1.0%	2.9%	1.9%	0.6%	-0.4%	1.3%
Free cash flow yield	-25.2%	-13.1%	-897.4%	-37.3%	-0.8%	128.2%	-37.5%	-40.4%
Earnings yield	8.8%	1.7%	14.6%	26.1%	5.9%	4.0%	-2.2%	7.2%
Enterprise value	₹1.2B	₹4.7B	₹123.6M	₹27.1M	₹45.4M	₹21.9M	₹31.1M	₹33.6M
Net debt / EBITDA	2.05×	2.87×	3.92×	0.72×	-0.05×	0.04×	-0.27×	0.53×
Cash conversion cycle (days)	260	169	355	94	288	403	39	126