MITCON Consultancy & Engineering Services Limited (MITCON.NS) 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

-277.7%

-₹131.37

vs ₹73.92 price

Levered DCF

-₹106.56

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

1.31

Distress zone

Rating

C-

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	10.13×	18.58×	29.72×	21.11×	114.87×	-27.15×	26.93×	566.25×
P/B	0.52×	0.55×	1.38×	0.88×	1.31×	0.61×	0.55×	0.7×
P/S	0.65×	0.62×	1.23×	1.07×	1.14×	0.89×	0.85×	1.69×
EV / EBITDA	4.98×	5.52×	8.99×	11.68×	11.85×	12.62×	8.3×	117.86×
Gross margin	31.8%	31.9%	26.8%	65.3%	27.7%	31.3%	38.6%	57.9%
Operating margin	16.8%	17.9%	16.3%	12.0%	10.7%	6.8%	17.9%	-4.3%
Net margin	6.4%	4.9%	4.1%	5.1%	1.0%	-3.3%	3.1%	0.3%
Current ratio	1.54×	1.37×	1.54×	2.16×	2.1×	2.88×	2.71×	2.15×
Debt / equity	0.62×	0.89×	1.24×	1.13×	0.95×	0.92×	0.73×	0.52×
Interest coverage	2×	1.48×	1.49×	1.05×	1.38×	0.51×	1.34×	-3.85×
Dividend yield	0.0%	0.0%	0.4%	0.0%	0.2%	0.4%	2.8%	2.4%
Payout ratio	0.0%	0.0%	11.3%	0.0%	25.2%	-12.2%	76.3%	1364.5%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	5.1%	4.4%	4.6%	4.2%	1.1%	-2.2%	2.0%	0.1%
Return on invested capital	5.7%	6.4%	4.3%	4.3%	2.3%	2.3%	5.3%	-0.2%
Return on assets	2.5%	1.9%	1.7%	1.7%	0.5%	-1.0%	1.0%	0.1%
Free cash flow yield	1.3%	-11.8%	-12.4%	14.9%	-14.1%	27.9%	-33.9%	-135.9%
Earnings yield	9.9%	7.9%	3.4%	4.7%	0.9%	-3.7%	3.7%	0.2%
Enterprise value	₹1.6B	₹1.8B	₹2.9B	₹1.9B	₹2B	₹1.2B	₹1.2B	₹982M
Net debt / EBITDA	2.5×	3.32×	4.09×	6.13×	4.76×	6.89×	4.59×	45.25×
Cash conversion cycle (days)	153	177	131	135	60	132	88	7