Credo Brands Marketing L (MUFTI.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

+159.8%

₹194.84

vs ₹75.00 price

Levered DCF

₹221.34

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

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
P/E	8.82×	11.81×	19.53×	25.91×	56.15×	578.15×
P/B	0.95×	1.97×	3.38×	7.14×	8.52×	10.44×
P/S	0.71×	1.3×	2.04×	4.03×	5.88×	8.2×
EV / EBITDA	3.63×	5.38×	8.64×	12.68×	19.65×	33.34×
Gross margin	39.8%	57.7%	57.3%	57.5%	56.9%	48.9%
Operating margin	13.5%	52.5%	45.0%	22.4%	14.7%	2.5%
Net margin	8.0%	11.0%	10.4%	15.6%	10.5%	1.4%
Current ratio	3.27×	3.61×	2.66×	3×	3×	2.87×
Debt / equity	0.52×	0.58×	0.74×	0.68×	0.65×	0.75×
Interest coverage	3.13×	12.87×	11.78×	7.56×	3.4×	0.37×
Dividend yield	4.7%	0.4%	0.0%	1.6%	0.0%	0.0%
Payout ratio	41.3%	4.8%	0.0%	41.5%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021
Return on equity	10.8%	16.7%	17.3%	27.6%	15.2%	1.8%
Return on invested capital	8.3%	35.3%	30.0%	16.2%	8.8%	1.4%
Return on assets	5.9%	8.9%	8.3%	13.5%	7.5%	0.8%
Free cash flow yield	27.0%	17.9%	1.8%	1.9%	3.1%	4.5%
Earnings yield	11.3%	8.5%	5.1%	3.9%	1.8%	0.2%
Enterprise value	₹5.9B	₹10B	₹14.1B	₹21.9B	₹21.1B	₹21.3B
Net debt / EBITDA	1.07×	1.03×	1.54×	1.06×	0.96×	1.86×
Cash conversion cycle (days)	231	245	286	228	219	265