N.B.I. Industrial Finance Company Limited (NBIFIN.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

+18.7%

₹2,096.85

vs ₹1,766.00 price

Levered DCF

₹1,607.33

After debt service

Piotroski score

5 / 9

Average

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	37.65×	84.78×	55.85×	67.67×	68.64×	298.1×	26.74×	61.42×
P/B	0.18×	0.18×	0.19×	0.15×	0.26×	0.19×	0.21×	0.15×
P/S	23.56×	45.54×	34.28×	35.1×	48.17×	326.9×	24.54×	43.03×
EV / EBITDA	27.97×	55.08×	41.03×	45.27×	49.6×	783.7×	27.25×	61.38×
Gross margin	100.0%	84.5%	87.9%	86.4%	92.7%	54.6%	96.3%	84.3%
Operating margin	84.1%	82.2%	83.4%	77.5%	96.0%	38.2%	89.9%	69.2%
Net margin	62.6%	64.6%	61.4%	51.9%	70.2%	109.6%	91.8%	70.1%
Current ratio	72.86×	6.9×	147.71×	8.81×	11.07×	74.38×	19,697.28×	55,856.08×
Debt / equity	0×	0×	0×	0×	0×	0×	0×	0×
Interest coverage	0×	11,999.78×	53,457×	0×	0×	0×	0×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	1.2%	1.4%	1.2%	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	0.5%	0.3%	0.3%	0.2%	0.4%	0.1%	0.8%	0.2%
Return on invested capital	0.5%	0.2%	0.3%	0.2%	0.4%	0.0%	0.8%	0.2%
Return on assets	0.5%	0.2%	0.3%	0.2%	0.4%	0.1%	0.8%	0.2%
Free cash flow yield	1.1%	0.8%	1.3%	1.6%	1.4%	0.0%	-0.4%	-0.6%
Earnings yield	2.7%	1.4%	1.8%	1.5%	1.5%	0.3%	3.7%	1.6%
Enterprise value	₹4.7B	₹6B	₹4.4B	₹3.6B	₹5.4B	₹4.4B	₹3.5B	₹2.6B
Net debt / EBITDA	-0.05×	-0.02×	-0×	-0×	-0.56×	-65.07×	-0.04×	-0.75×
Cash conversion cycle (days)	0	0	2	0	-5	93	9	8