NCC Bluewater Products Limited (NCCBLUE.BO) 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

-34.9%

₹13.93

vs ₹21.41 price

Levered DCF

₹13.93

After debt service

Piotroski score

3 / 9

Weak

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	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	6.66×	3.02×	19.91×	13.64×	12.66×	973.33×	6.56×	-13,116.67×
P/B	1.3×	0.9×	1.05×	0.59×	0.54×	0.32×	0.78×	1.03×
P/S	0×	20.36×	0×	0×	0×	0×	0×	0×
EV / EBITDA	2.39×	0.46×	2.11×	-5.02×	-5.68×	-9.38×	-0.49×	0×
Gross margin	0.0%	100.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Operating margin	0.0%	49.1%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Net margin	0.0%	673.8%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Current ratio	260.15×	75.47×	85.32×	89.87×	126.84×	168.9×	7.45×	7.26×
Debt / equity	0×	0×	0×	0×	0×	0×	0×	0×
Interest coverage	-102.44×	2,547×	-24.26×	0×	-54.48×	0×	0×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	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	19.5%	29.7%	5.3%	4.3%	4.3%	5.7%	12.0%	63.5%
Return on invested capital	-1.1%	1.6%	-0.4%	0.0%	-1.6%	0.0%	0.0%	0.0%
Return on assets	19.5%	29.3%	5.2%	4.3%	4.2%	5.7%	10.6%	56.2%
Free cash flow yield	13.1%	9.9%	5.4%	8.7%	10.6%	18.1%	15.3%	-0.2%
Earnings yield	15.0%	33.1%	5.1%	7.3%	7.9%	18.0%	15.3%	61.9%
Enterprise value	₹80.7M	₹21.3M	₹12.5M	-₹22.7M	-₹25M	-₹38.3M	-₹4M	₹12.2M
Net debt / EBITDA	-3.22×	-1.83×	-12.47×	-15.28×	-14.83×	-14.92×	-7.02×	0×
Cash conversion cycle (days)	0	0	0	0	0	0	0	0