MEP Infrastructure Developers Limited (MEP.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

-10929.4%

-₹69.31

vs ₹0.64 price

Levered DCF

-₹16.30

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

-1.88

Distress zone

Rating

—

Ratios by fiscal year

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

Metric	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
P/E	-0.25×	-1.01×	-1.6×	-3.79×	-2.96×	13.88×	17.64×	7.87×
P/B	-0.17×	-0.47×	-3.09×	2.78×	1.26×	2.94×	20.95×	-108.34×
P/S	2.97×	0.89×	0.37×	0.26×	0.11×	0.28×	0.54×	0.5×
EV / EBITDA	-0.92×	-47.43×	4.19×	4.34×	3.54×	3.37×	4.28×	2.24×
Gross margin	100.0%	98.9%	94.9%	54.4%	26.1%	41.1%	44.3%	81.0%
Operating margin	-919.5%	-76.9%	25.6%	46.7%	2.1%	18.6%	20.7%	25.2%
Net margin	-1168.9%	-88.4%	-22.8%	-6.8%	-3.8%	2.0%	3.1%	6.3%
Current ratio	0.59×	0.82×	0.49×	0.75×	0.81×	0.8×	0.6×	0.56×
Debt / equity	-0.25×	-0.89×	-18.37×	22.02×	13.49×	10.43×	50.69×	-343.15×
Interest coverage	-9.05×	-2.82×	0.86×	1.53×	0.11×	1.13×	1.03×	0.88×
Dividend yield	0.0%	0.0%	0.0%	0.4%	2.4%	0.7%	0.2%	0.4%
Payout ratio	0.0%	0.0%	0.0%	-1.5%	-7.1%	9.8%	3.4%	3.0%

Key metrics by fiscal year

Metric	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
Return on equity	65.1%	46.4%	193.2%	-73.3%	-42.6%	21.2%	118.6%	-1376.1%
Return on invested capital	66.8%	371.7%	12.1%	25.4%	1.6%	9.1%	8.8%	7.5%
Return on assets	-38.4%	-6.7%	-5.9%	-1.6%	-1.6%	1.1%	1.4%	2.2%
Free cash flow yield	230.8%	170.8%	80.1%	159.0%	325.8%	68.8%	25.4%	47.6%
Earnings yield	-394.0%	-99.4%	-62.5%	-26.4%	-33.8%	7.2%	5.7%	12.7%
Enterprise value	₹5.4B	₹6.3B	₹24.4B	₹25.8B	₹26.4B	₹35.1B	₹42.5B	₹34.3B
Net debt / EBITDA	-0.55×	-30.99×	3.58×	3.85×	3.24×	2.62×	3.02×	1.68×
Cash conversion cycle (days)	-10,101	-151,780	-7,514	-182	-19	-71	-108	-810