Mangalam Worldwide Ltd. (MWL.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

-151.2%

-₹20.04

vs ₹39.14 price

Levered DCF

-₹6.88

After debt service

Piotroski score

—

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	FY2025	FY2024	FY2023	FY2022	FY2021
P/E	15.44×	15.49×	14.29×	14.15×	23.54×
P/B	2.59×	1.78×	1.73×	1.8×	6.42×
P/S	0.64×	0.43×	0.38×	0.38×	0.56×
EV / EBITDA	10.33×	10.67×	9.94×	13.38×	15.3×
Gross margin	22.6%	9.8%	8.9%	7.2%	7.9%
Operating margin	6.7%	4.4%	3.8%	2.1%	2.0%
Net margin	4.1%	2.8%	2.7%	2.7%	2.4%
Current ratio	1.51×	1.41×	1.44×	1.58×	0.92×
Debt / equity	0.79×	0.75×	0.57×	0.63×	1.05×
Interest coverage	2.19×	2.05×	2.24×	4.32×	5.07×
Dividend yield	0.1%	0.6%	0.8%	0.2%	0.0%
Payout ratio	1.2%	8.8%	11.2%	2.8%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021
Return on equity	16.7%	11.5%	12.1%	12.7%	27.3%
Return on invested capital	14.4%	10.0%	10.7%	6.0%	7.0%
Return on assets	5.4%	4.6%	5.3%	6.7%	10.0%
Free cash flow yield	-0.2%	-20.0%	-6.7%	-41.5%	-16.6%
Earnings yield	6.5%	6.5%	7.0%	7.1%	4.2%
Enterprise value	₹10.1B	₹6.5B	₹4.1B	₹3.2B	₹3.3B
Net debt / EBITDA	2.4×	3.15×	2.45×	3.33×	1.94×
Cash conversion cycle (days)	190	129	100	67	31