Manipal Finance Corp. Ltd. (MNPLFIN.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

-118.1%

-₹3.53

vs ₹19.48 price

Levered DCF

-₹4.23

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

D+

Overall 1 / 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	66.5×	2.38×	-32.12×	-30.43×	12.43×	9.98×	1.24×	9.78×
P/B	-1.63×	-2.24×	-0.31×	-0.4×	-0.49×	-0.51×	-0.45×	-0.32×
P/S	64.42×	94.03×	21.88×	30.07×	27.81×	42.33×	30.67×	44.35×
EV / EBITDA	-73.96×	-68.37×	-49.22×	-41.18×	10.37×	14.93×	2.33×	-149.72×
Gross margin	13.4%	-23.7%	91.7%	79.2%	92.2%	48.6%	86.3%	13.2%
Operating margin	-100.5%	66.7%	52.1%	23.6%	51.2%	269.1%	36.0%	37.3%
Net margin	98.4%	3954.7%	-66.8%	-97.3%	224.4%	423.5%	2472.6%	451.4%
Current ratio	1.18×	1.09×	0.01×	0.01×	0.04×	0.02×	0.03×	0.01×
Debt / equity	-0.1×	-0.12×	-0.1×	-0.09×	-0.09×	-0.3×	-0.42×	-0.66×
Interest coverage	0×	0×	272.5×	32.93×	0.76×	375.93×	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	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-2.5%	-94.3%	0.9%	1.3%	-4.0%	-5.1%	-36.6%	-3.3%
Return on invested capital	-20.2%	13.6%	-1.7%	-0.7%	-2.1%	-9.6%	-1.7%	-3.8%
Return on assets	20.1%	777.6%	-8.5%	-11.5%	30.5%	20.1%	298.7%	36.5%
Free cash flow yield	1.7%	-43.2%	-6.9%	-3.7%	-2.7%	39.6%	30.7%	17.3%
Earnings yield	1.5%	42.1%	-3.1%	-3.2%	8.1%	10.0%	80.6%	10.2%
Enterprise value	₹129.1M	₹181.4M	₹61.1M	₹71.2M	₹82.6M	₹131.2M	₹155.9M	₹249.4M
Net debt / EBITDA	-4.19×	-3.53×	-12.37×	-7.25×	1.35×	5.51×	1.09×	-100.02×
Cash conversion cycle (days)	-66	-58	-875	-304	-859	-28	-52	-83