Minolta Finance Limited (MINOLTAF.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

-9092.6%

-₹110.61

vs ₹1.23 price

Levered DCF

-₹163.39

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

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	-11.25×	1,236.36×	369.57×	377.78×	395.35×	414.63×	99.42×	14.17×
P/B	1.66×	1.44×	1.78×	1.79×	1.8×	1.8×	1.81×	0.18×
P/S	1.29×	15.23×	25.06×	31.85×	50.67×	61.2×	29.3×	3.3×
EV / EBITDA	-94.51×	443.46×	286.95×	285.85×	299.6×	311.49×	66.64×	-74.17×
Gross margin	14.7%	47.2%	38.3%	27.6%	56.1%	56.8%	80.3%	36.2%
Operating margin	11.5%	13.9%	9.1%	11.6%	15.0%	18.5%	44.8%	-4.3%
Net margin	-11.9%	1.2%	6.8%	8.6%	12.9%	14.8%	29.5%	21.9%
Current ratio	0×	341.97×	734.49×	35.73×	15.99×	29.36×	94.17×	130.63×
Debt / equity	19.11×	4.43×	0.12×	0.09×	0.07×	0.05×	0.05×	0×
Interest coverage	0×	1.12×	696×	314.93×	0×	232.16×	5.95×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	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	-15.3%	0.1%	0.5%	0.5%	0.5%	0.4%	1.8%	1.2%
Return on invested capital	0.5%	0.2%	0.2%	0.4%	0.2%	0.4%	2.0%	1.2%
Return on assets	-0.8%	0.0%	0.4%	0.4%	0.4%	0.4%	1.7%	1.2%
Free cash flow yield	1.2%	0.0%	-0.1%	-18.8%	-1.0%	-0.1%	0.6%	-26.6%
Earnings yield	-9.2%	0.1%	0.3%	0.3%	0.3%	0.2%	1.0%	6.6%
Enterprise value	₹1.9B	₹629.3M	₹200.3M	₹198.7M	₹196.3M	₹194.5M	₹194.3M	₹18.4M
Net debt / EBITDA	-86.96×	334.13×	13.68×	11.4×	8.45×	6×	1.21×	2.7×
Cash conversion cycle (days)	0	41,535	10,985	273	-141	1,195	1,532	663