Meghna Infracon Infrastructure Limited (MIIL.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

-47.1%

₹352.32

vs ₹666.00 price

Levered DCF

-₹181.93

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

29.32

Safe zone

Rating

D+

Overall 1 / 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	219.54×	48.06×	82.36×	-30.39×	12.89×	11.61×	19.58×	-6.24×
P/B	43.39×	20.22×	9.9×	5.96×	1.45×	1.57×	2.06×	2.01×
P/S	25.61×	11.12×	2.39×	4.56×	0.47×	2.69×	0.24×	0.05×
EV / EBITDA	116.06×	2,445.97×	39.83×	6.5×	0.51×	4.6×	0.48×	0.07×
Gross margin	29.5%	100.0%	6.5%	-7.8%	7.9%	35.8%	-2.9%	-0.5%
Operating margin	21.0%	98.8%	4.7%	-15.4%	4.5%	54.2%	1.5%	-1.0%
Net margin	11.7%	23.1%	5.8%	-15.0%	3.7%	23.0%	1.2%	-0.7%
Current ratio	0.59×	222.57×	5.84×	2.11×	2.01×	1.11×	0.65×	0.71×
Debt / equity	0.82×	0.14×	0.18×	0.85×	0.48×	2.87×	2.75×	1.57×
Interest coverage	40.77×	0×	10.1×	-4.22×	2.8×	50.7×	1.38×	-2.65×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	2.0%	1.2%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	19.8%	42.1%	24.0%	-19.6%	11.3%	13.4%	10.5%	-32.1%
Return on invested capital	9.8%	50.4%	12.7%	-10.8%	8.0%	3.5%	2.8%	-18.2%
Return on assets	9.3%	26.3%	14.9%	-10.5%	6.6%	3.4%	2.8%	-12.4%
Free cash flow yield	-2.2%	3.9%	8.6%	-28.1%	76.3%	-59.8%	52.5%	29.5%
Earnings yield	0.5%	2.1%	2.4%	-3.3%	7.8%	8.5%	5.1%	-16.0%
Enterprise value	₹12B	₹4.5B	₹1.3B	₹678.6M	₹57.5M	₹107.1M	₹114.7M	₹69.9M
Net debt / EBITDA	1.66×	12.11×	0.52×	0.78×	0.05×	2.53×	0.25×	0.02×
Cash conversion cycle (days)	37	83	128	456	104	2,866	54	4