Mishka Exim Limited (MISHKA.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

-89.4%

₹4.25

vs ₹40.00 price

Levered DCF

-₹12.32

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

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	28.83×	90.36×	189.17×	-234.55×	4,583.33×	143.89×	-62.8×	276.8×
P/B	2.35×	1.39×	2.2×	4.98×	1.83×	1.9×	2.3×	1.85×
P/S	2.55×	6.55×	11.68×	7.69×	2.19×	11.8×	12.72×	4.69×
EV / EBITDA	20.48×	51.37×	83.55×	-247.95×	-129.3×	91.37×	-79.14×	126.88×
Gross margin	14.1%	13.8%	13.9%	-1.2%	0.6%	17.8%	4.7%	6.8%
Operating margin	10.3%	2.3%	11.5%	-4.4%	-2.4%	6.4%	3.2%	5.5%
Net margin	8.8%	7.2%	6.2%	-3.3%	0.0%	8.2%	-20.4%	1.7%
Current ratio	11.72×	4.19×	45.39×	11.86×	18.48×	120.55×	116.8×	83.71×
Debt / equity	0×	0.01×	0×	0.02×	0.01×	0×	0×	0×
Interest coverage	79.72×	3.92×	18.3×	-23.16×	-21.17×	98.23×	27.73×	1,353.43×
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	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	8.2%	1.5%	1.2%	-2.1%	0.0%	1.3%	-3.7%	0.7%
Return on invested capital	6.4%	0.3%	1.3%	-2.0%	0.0%	0.9%	0.5%	1.9%
Return on assets	7.2%	1.3%	1.1%	-1.9%	0.0%	1.2%	-3.3%	0.6%
Free cash flow yield	-0.1%	-1.9%	0.1%	0.1%	-1.1%	-0.3%	-1.7%	0.3%
Earnings yield	3.5%	1.1%	0.5%	-0.4%	0.0%	0.7%	-1.6%	0.4%
Enterprise value	₹569.2M	₹308.3M	₹474.4M	₹1.1B	₹393.3M	₹372.4M	₹451.3M	₹379.7M
Net debt / EBITDA	-0.02×	0.37×	-0.17×	-0.28×	1.35×	-0.45×	0.42×	-2.76×
Cash conversion cycle (days)	143	490	464	114	99	512	316	168