Neo Infracon Limited (NEOINFRA.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

-219.6%

-₹53.62

vs ₹44.83 price

Levered DCF

₹83.98

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

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	23.97×	18.18×	-70.79×	-32.19×	11.8×	7.48×	4.19×	-7.27×
P/B	2.82×	2.12×	1.51×	0.87×	1.79×	1.51×	2.2×	6.39×
P/S	2.69×	1.4×	2.34×	0.82×	2.62×	0.54×	0.6×	62.5×
EV / EBITDA	25.7×	13.11×	34.24×	22.44×	12.4×	12.61×	9.1×	157.43×
Gross margin	25.9%	31.8%	12.3%	16.1%	16.1%	7.1%	26.4%	100.0%
Operating margin	15.0%	24.3%	-13.5%	-14.0%	-29.6%	-5.7%	14.3%	-359.0%
Net margin	11.2%	7.7%	-3.3%	-2.6%	22.2%	7.2%	14.3%	-860.0%
Current ratio	1.78×	1.91×	1.85×	1.15×	1.66×	1.34×	1.17×	1.19×
Debt / equity	2.08×	2.37×	2.78×	2.16×	2.31×	4.62×	7.24×	20.47×
Interest coverage	1.07×	2.11×	-0.91×	-1.24×	-1.37×	-0.88×	1.63×	-0.41×
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	11.8%	11.7%	-2.1%	-2.7%	15.1%	20.2%	52.5%	-88.0%
Return on invested capital	4.2%	9.0%	-2.1%	-4.3%	-5.0%	-2.1%	4.6%	-1.6%
Return on assets	2.8%	2.4%	-0.4%	-0.5%	2.6%	2.4%	4.7%	-3.5%
Free cash flow yield	1.1%	12.1%	-30.2%	37.6%	57.5%	98.4%	127.9%	1.6%
Earnings yield	4.2%	5.5%	-1.4%	-3.1%	8.5%	13.4%	23.9%	-13.8%
Enterprise value	₹370.3M	₹300.5M	₹252.6M	₹183.1M	₹254.2M	₹299.4M	₹397.5M	₹538.4M
Net debt / EBITDA	10.77×	6.87×	22.09×	15.95×	6.96×	9.23×	6.97×	119.9×
Cash conversion cycle (days)	1,175	1,032	2,403	1,439	2,508	897	1,220	32,422