Murudeshwar Ceramics Ltd. (MURUDCERA.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

-460.1%

-₹94.59

vs ₹26.27 price

Levered DCF

-₹75.33

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

C+

Overall 2 / 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	13.9×	19.52×	56.69×	25.86×	64.74×	-7.83×	25.68×	21.53×
P/B	0.39×	0.51×	0.81×	0.48×	0.41×	0.28×	0.14×	0.31×
P/S	0.73×	0.94×	1.6×	0.99×	1.13×	1.16×	0.44×	0.82×
EV / EBITDA	9.1×	7.5×	12.66×	9.15×	8.33×	23.19×	4.56×	6.93×
Gross margin	19.4%	21.2%	70.0%	73.4%	69.5%	58.8%	53.3%	59.9%
Operating margin	8.0%	9.9%	9.9%	11.4%	12.8%	-1.3%	10.5%	16.3%
Net margin	5.3%	4.9%	2.8%	4.0%	1.7%	-14.8%	1.7%	3.8%
Current ratio	1.4×	1.34×	1.38×	1.33×	1.55×	1.45×	1.46×	1.67×
Debt / equity	0.37×	0.29×	0.34×	0.34×	0.27×	0.27×	0.25×	0.29×
Interest coverage	1.33×	1.54×	1.67×	1.48×	1.38×	-0.08×	0.72×	1.41×
Dividend yield	2.0%	1.6%	1.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	28.0%	30.8%	56.3%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	2.8%	2.6%	1.4%	1.9%	0.6%	-3.6%	0.5%	1.4%
Return on invested capital	2.5%	3.3%	1.6%	3.6%	2.0%	-0.2%	1.3%	4.2%
Return on assets	1.8%	1.7%	0.9%	1.3%	0.5%	-2.5%	0.4%	1.0%
Free cash flow yield	-19.5%	-5.3%	7.2%	-23.2%	9.9%	-8.5%	63.0%	12.4%
Earnings yield	7.2%	5.1%	1.7%	4.0%	1.5%	-12.7%	3.9%	4.6%
Enterprise value	₹2.9B	₹3B	₹4.2B	₹2.9B	₹2.2B	₹1.8B	₹1.3B	₹2B
Net debt / EBITDA	4.33×	2.66×	3.69×	3.78×	3.17×	11.25×	2.95×	3.32×
Cash conversion cycle (days)	272	259	635	766	1,054	1,171	735	828