Neeraj Paper Marketing Limited (NEERAJ.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

-413.0%

-₹49.45

vs ₹15.80 price

Levered DCF

₹150.31

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

—

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	34.24×	96.45×	34.12×	37.23×	19.02×	27.57×	17.48×	43.55×
P/B	0.62×	0.86×	0.71×	0.71×	0.65×	0.44×	0.52×	0.61×
P/S	0.1×	0.12×	0.12×	0.09×	0.13×	0.1×	0.09×	0.06×
EV / EBITDA	13.81×	11.69×	12.79×	14.35×	14.17×	12.16×	11.39×	6.39×
Gross margin	2.5%	2.8%	3.6%	2.4%	3.5%	4.3%	3.9%	3.8%
Operating margin	0.7%	1.5%	2.8%	1.9%	1.8%	3.3%	2.0%	2.3%
Net margin	0.3%	0.1%	0.4%	0.2%	0.7%	0.4%	0.5%	0.1%
Current ratio	1.8×	1.8×	1.85×	1.89×	2.02×	2.27×	1.67×	1.52×
Debt / equity	0.27×	0.54×	0.97×	0.99×	0.86×	0.89×	0.96×	0.91×
Interest coverage	1.62×	1.15×	1.84×	2×	1.53×	2×	1.29×	1.29×
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	1.8%	0.9%	2.1%	1.9%	3.4%	1.6%	3.0%	1.4%
Return on invested capital	2.2%	3.8%	5.8%	5.3%	3.2%	5.3%	5.6%	4.8%
Return on assets	0.8%	0.4%	0.9%	0.8%	1.5%	0.7%	1.1%	0.4%
Free cash flow yield	48.2%	54.1%	18.4%	-10.0%	2.5%	17.8%	9.6%	320.4%
Earnings yield	2.9%	1.0%	2.9%	2.7%	5.2%	3.7%	5.8%	2.3%
Enterprise value	₹241.3M	₹386.5M	₹458.7M	₹456.7M	₹398M	₹338.9M	₹373.4M	₹366.2M
Net debt / EBITDA	3.8×	4.5×	7.37×	8.32×	8.06×	8.13×	7.35×	3.8×
Cash conversion cycle (days)	36	45	77	62	97	126	97	53