Nava Limited (NAVA.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

+110.2%

₹1,073.62

vs ₹510.65 price

Levered DCF

₹2,250.61

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

3.49

Safe zone

Rating

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	19.12×	14.02×	7.66×	3.41×	3.95×	2.67×	0.71×	3.22×
P/B	1.72×	2.01×	1.05×	0.53×	0.41×	0.24×	0.13×	0.48×
P/S	3.5×	3.86×	1.9×	0.9×	0.62×	0.41×	0.2×	0.61×
EV / EBITDA	7.95×	7.67×	3.76×	2.98×	3.5×	3.11×	3.15×	3.6×
Gross margin	36.8%	57.3%	54.1%	59.6%	62.4%	68.3%	94.7%	97.2%
Operating margin	30.9%	37.4%	37.3%	36.0%	30.9%	30.4%	32.8%	37.7%
Net margin	18.3%	27.5%	24.8%	26.4%	15.6%	16.7%	14.4%	9.4%
Current ratio	7.62×	5.98×	5.04×	2.16×	1.12×	1.13×	1.93×	2.01×
Debt / equity	0.25×	0.12×	0.06×	0.51×	0.72×	0.77×	0.83×	0.93×
Interest coverage	111.16×	70.2×	5.22×	3.2×	3.05×	2.24×	2.84×	3.1×
Dividend yield	3.3%	0.7%	1.2%	2.7%	1.8%	0.0%	10.7%	1.7%
Payout ratio	62.9%	10.5%	9.2%	9.3%	7.0%	0.0%	15.2%	11.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	9.0%	14.3%	13.7%	15.4%	10.5%	9.6%	9.4%	7.5%
Return on invested capital	6.7%	12.4%	14.1%	11.4%	6.4%	7.0%	9.4%	6.2%
Return on assets	5.5%	9.7%	9.7%	8.3%	4.8%	4.4%	4.2%	3.3%
Free cash flow yield	3.6%	8.5%	41.6%	35.5%	26.7%	69.4%	70.6%	39.0%
Earnings yield	5.2%	7.1%	13.1%	29.3%	25.3%	40.5%	70.5%	15.5%
Enterprise value	₹151.5B	₹152.1B	₹73.8B	₹58.4B	₹53.1B	₹40.9B	₹37.7B	₹49.9B
Net debt / EBITDA	0.06×	-0.05×	0.08×	1.37×	2.15×	2.31×	2.68×	2.31×
Cash conversion cycle (days)	132	270	263	379	204	233	1,227	1,404