NACL Industries Limited (NACLIND.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

-139.5%

-₹46.09

vs ₹116.59 price

Levered DCF

-₹31.08

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

C-

Overall 1 / 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	596.76×	-24.18×	-20.52×	17.09×	21.85×	14.32×	21.9×	-67.95×
P/B	3.99×	5.22×	2.36×	2.82×	3.28×	1.74×	1.03×	1.65×
P/S	1.72×	1.81×	0.68×	0.77×	0.98×	0.61×	0.37×	0.55×
EV / EBITDA	29.22×	-100.5×	169.72×	11.38×	13.38×	6.78×	7.26×	17.02×
Gross margin	19.9%	11.8%	7.6%	24.5%	24.0%	26.0%	26.2%	25.2%
Operating margin	4.5%	-7.4%	-0.3%	8.0%	7.2%	7.8%	5.0%	-0.0%
Net margin	0.3%	-7.5%	-3.3%	4.5%	4.5%	4.3%	1.7%	-0.8%
Current ratio	1.27×	0.97×	1.13×	1.27×	1.35×	1.53×	1.25×	1.29×
Debt / equity	0.46×	0.93×	1.54×	1.26×	1.09×	0.48×	0.75×	0.74×
Interest coverage	1.52×	-1.42×	-0.07×	3.56×	4.42×	3.32×	1.97×	-0×
Dividend yield	0.0%	0.0%	0.4%	0.7%	0.7%	0.7%	0.6%	0.5%
Payout ratio	0.0%	0.0%	-8.4%	12.6%	14.8%	9.6%	13.9%	-34.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	0.7%	-21.6%	-11.5%	16.5%	15.0%	12.2%	4.7%	-2.4%
Return on invested capital	3.3%	-8.4%	-0.3%	9.4%	8.4%	9.7%	5.4%	-0.0%
Return on assets	0.3%	-7.3%	-3.2%	5.0%	4.9%	5.2%	1.8%	-0.9%
Free cash flow yield	-6.6%	16.7%	0.9%	-10.2%	-16.3%	9.2%	9.0%	3.0%
Earnings yield	0.2%	-4.1%	-4.9%	5.9%	4.6%	7.0%	4.5%	-1.5%
Enterprise value	₹30B	₹25.7B	₹19.7B	₹23B	₹20.6B	₹8.6B	₹5.5B	₹6.7B
Net debt / EBITDA	2.7×	-13.35×	65.35×	3.37×	2.98×	1.05×	2.42×	5.16×
Cash conversion cycle (days)	105	83	161	135	133	88	84	128