Monte Carlo Fashions Limited (MONTECARLO.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

+44.0%

₹744.41

vs ₹517.00 price

Levered DCF

₹1,328.13

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

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	8.64×	13.72×	21.84×	9.73×	8.81×	7.07×	4.41×	13.2×
P/B	1.07×	1.34×	1.65×	1.66×	1.46×	0.78×	0.51×	1.63×
P/S	0.76×	1.01×	1.23×	1.15×	1.11×	0.76×	0.38×	1.2×
EV / EBITDA	5.87×	7.19×	9.87×	6.79×	5.64×	4.32×	2.88×	6.87×
Gross margin	32.9%	31.3%	38.1%	47.0%	41.6%	40.1%	40.4%	40.8%
Operating margin	12.7%	11.5%	8.9%	32.9%	32.9%	13.4%	12.6%	12.8%
Net margin	8.8%	7.4%	5.7%	11.9%	12.6%	10.7%	8.7%	9.1%
Current ratio	1.68×	1.84×	1.88×	1.95×	2.52×	2.96×	2.37×	2.08×
Debt / equity	0.64×	0.62×	0.48×	0.43×	0.23×	0.2×	0.21×	0.1×
Interest coverage	3.19×	2.65×	2.48×	15.14×	18.8×	6.16×	5.39×	9.39×
Dividend yield	4.3%	3.7%	3.2%	3.2%	3.1%	2.2%	0.0%	4.0%
Payout ratio	37.0%	51.1%	69.2%	31.3%	27.3%	15.6%	0.0%	52.8%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	12.4%	9.7%	7.5%	17.1%	16.6%	11.0%	11.5%	12.3%
Return on invested capital	7.9%	6.3%	5.7%	24.2%	25.4%	8.4%	9.8%	10.5%
Return on assets	5.8%	4.7%	4.0%	8.9%	10.2%	7.1%	6.9%	7.6%
Free cash flow yield	6.5%	1.9%	3.6%	-4.5%	4.5%	20.2%	3.3%	14.5%
Earnings yield	11.6%	7.3%	4.6%	10.3%	11.4%	14.1%	22.7%	7.6%
Enterprise value	₹15.4B	₹15.9B	₹16.9B	₹16.2B	₹11.6B	₹5.9B	₹3.9B	₹8B
Net debt / EBITDA	2.19×	2.16×	2.22×	1.38×	0.76×	0.87×	0.85×	0.13×
Cash conversion cycle (days)	329	322	295	293	213	200	171	179