Metal Coatings (India) Limited (METALCO.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

+114.8%

₹110.60

vs ₹51.50 price

Levered DCF

₹8.40

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

B-

Overall 3 / 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	13.34×	21.66×	24.12×	21.76×	10.97×	7.69×	6.67×	5.92×
P/B	0.73×	1.22×	1.52×	1.63×	0.91×	0.63×	0.66×	0.68×
P/S	0.22×	0.32×	0.37×	0.35×	0.22×	0.21×	0.16×	0.12×
EV / EBITDA	9.41×	8.71×	16.64×	14.34×	9.34×	6.02×	4.53×	4.97×
Gross margin	19.7%	19.1%	5.1%	14.1%	12.7%	12.1%	9.4%	7.0%
Operating margin	1.6%	13.3%	1.6%	9.8%	8.1%	11.5%	12.1%	2.7%
Net margin	1.6%	1.5%	1.5%	1.6%	2.0%	2.7%	2.4%	2.0%
Current ratio	4.49×	4.73×	5.78×	9.27×	3.36×	3.15×	4.74×	2.94×
Debt / equity	0.08×	0.04×	0.05×	0×	0.29×	0.3×	0.13×	0.29×
Interest coverage	167.56×	8.98×	290.17×	324.3×	98.1×	176.15×	213.42×	8.7×
Dividend yield	2.3%	0.0%	0.0%	0.0%	0.0%	0.0%	2.3%	4.0%
Payout ratio	30.5%	0.0%	0.0%	0.0%	0.0%	0.0%	15.5%	23.8%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	5.5%	5.6%	6.3%	7.5%	8.3%	8.2%	9.8%	11.5%
Return on invested capital	3.6%	36.6%	4.9%	32.4%	18.9%	18.9%	30.7%	8.4%
Return on assets	4.3%	4.5%	5.2%	6.4%	5.7%	5.5%	7.6%	7.7%
Free cash flow yield	-3.7%	9.8%	3.8%	16.3%	-18.1%	-25.9%	41.9%	13.9%
Earnings yield	7.5%	4.6%	4.1%	4.6%	9.1%	13.0%	15.0%	16.9%
Enterprise value	₹354.7M	₹527.9M	₹622.3M	₹595.5M	₹406.1M	₹239.7M	₹203.6M	₹257.4M
Net debt / EBITDA	0.91×	0.25×	0.52×	-0.13×	2.22×	1.07×	0.29×	1.46×
Cash conversion cycle (days)	100	82	78	76	104	133	84	79