Maestros Electronics & Telecommunications Systems Limited (METSL.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

-547.5%

-₹340.13

vs ₹76.00 price

Levered DCF

-₹751.68

After debt service

Piotroski score

5 / 9

Average

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	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	10.38×	18.27×	13.31×	8.23×	23.57×	6×	96.06×	59.09×
P/B	1.79×	2.29×	2.15×	0.96×	1.31×	1.58×	2.16×	1.42×
P/S	1.91×	2.76×	1.97×	1×	2.63×	0.72×	2.45×	2.14×
EV / EBITDA	7.75×	12.72×	8.91×	7.76×	27.67×	4.01×	25.03×	30.18×
Gross margin	43.1%	46.5%	45.4%	45.4%	59.1%	27.7%	52.0%	55.3%
Operating margin	18.1%	12.8%	31.5%	28.7%	26.2%	20.8%	8.5%	20.0%
Net margin	18.4%	15.1%	14.8%	12.1%	11.2%	11.9%	2.6%	3.6%
Current ratio	3.33×	2.77×	1.78×	2.2×	1.53×	1.42×	1.61×	2.01×
Debt / equity	0.04×	0.1×	0.18×	0.19×	0.09×	0.1×	0.54×	0.18×
Interest coverage	18.13×	7.78×	17.06×	21.73×	2.76×	9.3×	1.71×	29.02×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.9%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	22.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	17.2%	12.5%	16.2%	11.7%	5.6%	26.1%	2.3%	2.4%
Return on invested capital	11.1%	6.1%	20.1%	16.5%	8.4%	29.0%	3.1%	7.8%
Return on assets	11.2%	7.4%	8.6%	7.0%	2.3%	9.7%	0.9%	1.6%
Free cash flow yield	-0.5%	3.3%	5.1%	-27.8%	-30.4%	80.7%	-11.4%	-7.1%
Earnings yield	9.6%	5.5%	7.5%	12.1%	4.3%	16.6%	1.0%	1.7%
Enterprise value	₹766.3M	₹833.4M	₹710.4M	₹293M	₹310M	₹359.1M	₹412M	₹228.8M
Net debt / EBITDA	0.13×	0.53×	0.67×	1.26×	1.36×	0.21×	4.84×	3.21×
Cash conversion cycle (days)	99	102	210	166	679	64	846	107