Mukand Limited (MUKANDLTD.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

+434.4%

₹783.43

vs ₹146.61 price

Levered DCF

-₹362.89

After debt service

Piotroski score

2 / 9

Weak

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	2.86×	18.09×	22.28×	11.86×	11.55×	-5.75×	-0.78×	-6.92×
P/B	1.14×	1.45×	2.51×	2.39×	3.05×	2.53×	0.28×	0.87×
P/S	0.35×	0.28×	0.45×	0.37×	0.44×	0.43×	0.07×	0.22×
EV / EBITDA	4.7×	10.24×	12.18×	8.58×	11.56×	10.72×	15.35×	16.2×
Gross margin	17.0%	24.8%	4.2%	16.5%	5.1%	1.6%	13.0%	12.3%
Operating margin	2.2%	20.2%	4.6%	25.3%	3.9%	-19.5%	1.8%	3.5%
Net margin	12.4%	1.6%	2.0%	3.1%	3.8%	-7.6%	-8.3%	-3.2%
Current ratio	1.38×	1.12×	3.72×	3.06×	1.38×	2.71×	1.37×	1.32×
Debt / equity	1.11×	1.64×	1.62×	1.76×	3.04×	4.48×	4.14×	2.81×
Interest coverage	0.72×	7.61×	1.79×	7.94×	1.13×	-1.58×	0.15×	0.39×
Dividend yield	1.7%	2.1%	1.2%	1.1%	0.7%	0.1%	0.0%	0.0%
Payout ratio	4.8%	38.0%	28.1%	12.6%	8.0%	-0.6%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	39.7%	8.0%	11.1%	20.1%	26.5%	-44.1%	-35.8%	-12.6%
Return on invested capital	3.3%	24.6%	7.7%	57.9%	7.0%	-20.2%	1.2%	2.6%
Return on assets	14.8%	2.1%	3.4%	5.4%	5.1%	-6.3%	-5.4%	-2.6%
Free cash flow yield	-40.2%	3.9%	0.5%	2.2%	-14.7%	-28.6%	67.7%	-8.4%
Earnings yield	34.9%	5.5%	4.4%	8.4%	8.7%	-17.4%	-127.5%	-14.4%
Enterprise value	₹34.1B	₹29.1B	₹37.5B	₹35B	₹40.2B	₹32.1B	₹29.6B	₹33.6B
Net debt / EBITDA	2.31×	5.41×	4.67×	3.59×	5.71×	6.81×	14.37×	12.35×
Cash conversion cycle (days)	199	172	126	119	139	210	211	161