Modison Limited (MODISONLTD.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

-158.1%

-₹202.24

vs ₹348.30 price

Levered DCF

-₹330.74

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

5.29

Safe zone

Rating

B+

Overall 3 / 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	5.18×	17.32×	18.37×	15.54×	14.7×	9.07×	13.44×	12.19×
P/B	1.37×	1.97×	1.93×	0.93×	1.22×	1.24×	1.38×	1.48×
P/S	0.53×	0.87×	0.97×	0.52×	0.63×	0.7×	0.93×	0.92×
EV / EBITDA	4.67×	10.53×	11.05×	7.74×	8.04×	5.64×	8.37×	6.78×
Gross margin	20.3%	14.5%	20.2%	21.0%	19.6%	25.6%	28.1%	14.3%
Operating margin	15.2%	7.6%	6.5%	5.6%	7.1%	11.7%	9.7%	10.6%
Net margin	10.2%	5.0%	5.3%	3.3%	4.3%	7.7%	6.9%	7.6%
Current ratio	1.81×	2.32×	2.74×	4.8×	4.13×	4×	3.11×	3.32×
Debt / equity	0.64×	0.34×	0.16×	0.03×	0.1×	0.07×	0.18×	0.15×
Interest coverage	12.43×	6.23×	9.06×	10.35×	11.15×	15.65×	9.77×	9.82×
Dividend yield	3.9%	2.7%	1.2%	0.0%	1.5%	2.4%	2.9%	2.9%
Payout ratio	20.1%	46.0%	22.8%	0.0%	22.1%	21.7%	38.7%	35.1%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	26.4%	11.4%	10.5%	6.0%	8.3%	13.6%	10.3%	12.1%
Return on invested capital	17.8%	9.2%	8.0%	6.9%	8.9%	14.1%	9.5%	14.0%
Return on assets	14.4%	7.7%	7.9%	5.0%	6.8%	11.1%	7.9%	9.3%
Free cash flow yield	-23.0%	-8.6%	-5.0%	5.8%	0.8%	8.9%	2.4%	-0.7%
Earnings yield	19.3%	5.8%	5.4%	6.4%	6.8%	11.0%	7.4%	8.2%
Enterprise value	₹5.5B	₹5B	₹4.2B	₹1.8B	₹2.3B	₹2.1B	₹2.3B	₹2.2B
Net debt / EBITDA	1.48×	1.51×	0.81×	0.2×	0.46×	0.3×	0.9×	0.64×
Cash conversion cycle (days)	219	168	162	155	141	166	204	192