Mitshi India Limited (MITSHI.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

-91.3%

₹1.09

vs ₹12.55 price

Levered DCF

₹1.32

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

—

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	1,850.65×	397×	172.14×	19.74×	1,763.75×	55.58×	75.23×	31.39×
P/B	4.69×	5.19×	7.9×	3.88×	6.03×	6.19×	23.91×	22.63×
P/S	4.61×	3.09×	1.05×	1.29×	1.79×	1.89×	4.49×	5.04×
EV / EBITDA	1,698.01×	1,162.9×	137.21×	-14.39×	179.02×	35.91×	55.84×	23.03×
Gross margin	13.4%	5.8%	3.8%	-5.9%	4.4%	10.4%	16.6%	37.4%
Operating margin	4.6%	0.2%	3.6%	-6.1%	4.3%	4.6%	12.8%	19.5%
Net margin	0.2%	0.8%	0.6%	6.5%	0.1%	3.4%	6.1%	16.3%
Current ratio	21.06×	18.3×	10.9×	21.16×	3.74×	3.28×	0.36×	6.61×
Debt / equity	0.13×	0.07×	0.01×	0×	0.54×	0.51×	0.43×	0.44×
Interest coverage	0×	0×	3,660.5×	0×	142.25×	564.44×	0×	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	0.3%	1.3%	4.5%	19.7%	0.3%	11.0%	32.6%	73.3%
Return on invested capital	3.8%	0.3%	21.5%	-13.6%	6.5%	7.3%	-124.1%	23.4%
Return on assets	0.2%	1.2%	4.1%	18.9%	0.2%	5.4%	13.8%	22.0%
Free cash flow yield	-0.1%	-1.3%	0.3%	10.6%	-0.7%	-12.0%	-3.2%	-3.4%
Earnings yield	0.1%	0.3%	0.6%	5.1%	0.1%	1.8%	1.4%	3.2%
Enterprise value	₹127.4M	₹140.7M	₹209.7M	₹97.7M	₹132.8M	₹134.9M	₹440.1M	₹290.8M
Net debt / EBITDA	-7.24×	-5.13×	-1.59×	0.28×	11.69×	2.07×	0.4×	0.28×
Cash conversion cycle (days)	311	185	38	92	78	116	110	128