Nettlinx Limited (NETTLINX.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

+12.1%

₹12.86

vs ₹11.47 price

Levered DCF

-₹12.53

After debt service

Piotroski score

1 / 9

Weak

Altman Z-score

—

Rating

C-

Overall 1 / 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	-6.45×	10.76×	35.01×	-9,015.32×	33.84×	-112.5×	10.04×	13.87×
P/B	0.55×	1.42×	5.66×	5.9×	2.59×	2.56×	0.54×	1.58×
P/S	1.59×	2.65×	8.71×	10.86×	2.73×	2.19×	0.37×	2.16×
EV / EBITDA	43.34×	7.79×	22.38×	105.6×	18.92×	24.45×	7.76×	7.05×
Gross margin	23.7%	51.1%	46.8%	78.6%	71.2%	78.0%	34.5%	87.1%
Operating margin	-0.4%	16.9%	37.1%	-0.2%	12.1%	6.1%	5.5%	22.3%
Net margin	-24.7%	24.6%	24.9%	-0.1%	8.1%	-1.9%	3.7%	15.5%
Current ratio	2.54×	1.4×	1.55×	2.63×	2.86×	3.09×	1.72×	1.72×
Debt / equity	0.1×	0.33×	0.29×	0.28×	0.4×	0.47×	0.62×	0.64×
Interest coverage	-0.07×	4.5×	21×	-0.04×	3.29×	1.59×	1.51×	1.64×
Dividend yield	0.0%	1.1%	0.0%	0.2%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	11.7%	0.0%	-1809.6%	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	-8.6%	13.2%	16.2%	-0.1%	7.7%	-2.3%	5.4%	11.4%
Return on invested capital	-0.1%	4.4%	11.9%	0.0%	5.6%	-4.5%	3.4%	6.3%
Return on assets	-7.0%	8.2%	10.1%	-0.0%	4.3%	-1.1%	2.1%	4.6%
Free cash flow yield	-11.6%	-8.3%	0.1%	-1.1%	5.1%	19.8%	45.1%	4.9%
Earnings yield	-15.5%	9.3%	2.9%	-0.0%	3.0%	-0.9%	10.0%	7.2%
Enterprise value	₹384.1M	₹1.1B	₹3B	₹2.4B	₹1B	₹834.4M	₹315.2M	₹584.5M
Net debt / EBITDA	5.73×	1.39×	0.96×	4.11×	1.58×	1.78×	3.51×	1.68×
Cash conversion cycle (days)	351	254	211	199	141	377	176	1,584