Nahar Spinning Mills Limited (NAHARSPING.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

+4.4%

₹266.21

vs ₹255.00 price

Levered DCF

-₹278.07

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

B-

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	28.9×	68.56×	-20.92×	7.45×	3.69×	9.18×	-1.76×	5.19×
P/B	0.42×	0.51×	0.71×	0.56×	1.16×	0.42×	0.11×	0.39×
P/S	0.2×	0.23×	0.35×	0.32×	0.53×	0.18×	0.05×	0.15×
EV / EBITDA	10.23×	9.6×	23.82×	6.4×	3.53×	7.38×	14.36×	4.94×
Gross margin	10.9%	10.2%	25.8%	6.9%	41.7%	34.7%	30.5%	34.8%
Operating margin	2.1%	2.0%	0.6%	3.1%	17.9%	5.5%	-1.0%	6.6%
Net margin	0.7%	0.4%	-1.7%	4.0%	14.4%	2.0%	-2.6%	2.9%
Current ratio	1.71×	1.64×	1.5×	1.89×	1.56×	1.24×	1.18×	1.14×
Debt / equity	0.65×	0.74×	0.78×	0.47×	0.63×	1.2×	1.13×	1.01×
Interest coverage	1.22×	0.89×	0.26×	2.52×	8.36×	1.65×	-0.3×	2.5×
Dividend yield	0.6%	0.5%	0.5%	0.8%	0.6%	0.0%	4.7%	0.5%
Payout ratio	16.5%	29.2%	-10.6%	6.5%	2.2%	0.0%	-8.2%	2.8%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	1.4%	0.8%	-3.4%	7.1%	31.4%	4.6%	-6.5%	7.4%
Return on invested capital	2.2%	1.5%	0.5%	2.7%	17.4%	4.4%	-0.8%	5.3%
Return on assets	0.8%	0.4%	-1.8%	4.4%	17.0%	1.9%	-2.8%	3.4%
Free cash flow yield	17.5%	4.8%	-58.3%	39.0%	8.4%	-42.0%	-31.9%	35.5%
Earnings yield	3.5%	1.6%	-4.9%	12.8%	27.1%	11.0%	-56.8%	19.3%
Enterprise value	₹16.1B	₹18.3B	₹21.9B	₹15.4B	₹28.6B	₹14.5B	₹10.1B	₹12.2B
Net debt / EBITDA	6.23×	5.6×	12.48×	2.81×	1.25×	5.46×	13.04×	3.58×
Cash conversion cycle (days)	160	172	235	178	240	246	210	199