MMTC Limited (MMTC.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

-102.3%

-₹1.22

vs ₹52.53 price

Levered DCF

-₹0.02

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

C+

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	20.19×	114.81×	54.49×	2.68×	-25.64×	-8.05×	-6.31×	39.31×
P/B	3.69×	5.8×	6.44×	2.96×	-44.67×	63.69×	2.03×	3.35×
P/S	2,294.04×	3,670.88×	1,959.27×	1.19×	0.59×	0.21×	0.07×	0.15×
EV / EBITDA	-43.06×	68.75×	128.28×	2.9×	28.45×	-9.53×	-39.58×	26.65×
Gross margin	-2386.5%	-4244.2%	-2513.3%	3.4%	5.1%	4.6%	3.6%	2.4%
Operating margin	-5477.7%	-5325.7%	-3108.4%	-3.2%	4.0%	-0.2%	-0.3%	0.7%
Net margin	11360.1%	3220.4%	3598.9%	44.3%	-2.3%	-2.6%	-1.1%	0.4%
Current ratio	3.4×	1.67×	1.56×	1.48×	0.89×	0.89×	1.13×	1.33×
Debt / equity	0×	0×	0.1×	0.14×	-17.73×	24.28×	4.23×	0.76×
Interest coverage	-239.47×	-26.58×	-237.13×	-0.92×	2.02×	-0.28×	-0.48×	2.88×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.9%	2.9%	0.9%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	-6.9%	-18.6%	33.3%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	18.3%	5.1%	11.8%	110.7%	174.4%	-791.3%	-32.0%	8.6%
Return on invested capital	-5.3%	-6.3%	-8.8%	-6.0%	-46.2%	-1.6%	-1.4%	5.4%
Return on assets	13.9%	2.5%	5.2%	42.5%	-5.4%	-14.4%	-4.6%	2.5%
Free cash flow yield	-5.6%	-3.7%	-3.4%	18.0%	-0.0%	26.8%	-140.6%	-8.7%
Earnings yield	5.0%	0.9%	1.8%	37.3%	-3.9%	-12.4%	-15.8%	2.6%
Enterprise value	₹78.2B	₹85.4B	₹105B	₹40.7B	₹90.9B	₹86.2B	₹56.3B	₹51.7B
Net debt / EBITDA	0×	-10.76×	0.47×	-0.08×	7.74×	-2.51×	-26.6×	4.78×
Cash conversion cycle (days)	2,817	20,955	27,966	5	7	-2	22	-2