NGL Fine-Chem Limited (NGLFINE.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

-185.5%

-₹2,188.55

vs ₹2,560.00 price

Levered DCF

-₹2,999.74

After debt service

Piotroski score

4 / 9

Average

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	26.41×	33.02×	31.82×	36.22×	23.14×	20.36×	138.54×	57.36×
P/B	3.86×	2.47×	5.01×	3.34×	5.68×	7.48×	11.67×	12.53×
P/S	2.54×	1.89×	3.88×	2.67×	3.64×	4.48×	7.75×	7.66×
EV / EBITDA	15.75×	22.58×	19.86×	18.95×	15.01×	13.26×	51.84×	32.67×
Gross margin	35.2%	50.5%	50.1%	49.5%	52.2%	59.2%	56.8%	58.5%
Operating margin	10.6%	6.1%	12.4%	8.5%	18.2%	29.4%	9.1%	19.6%
Net margin	9.6%	5.7%	12.2%	7.4%	15.7%	22.0%	5.6%	13.3%
Current ratio	1.84×	1.98×	2.46×	2.79×	2.64×	2.98×	1.88×	1.87×
Debt / equity	0.33×	0.26×	0.13×	0.15×	0.15×	0.11×	0.29×	0.29×
Interest coverage	11.89×	9.61×	23.26×	12.9×	30.23×	34.47×	5.15×	12.9×
Dividend yield	0.1%	0.2%	0.1%	0.1%	0.1%	0.1%	0.1%	0.0%
Payout ratio	2.2%	5.1%	2.6%	5.3%	2.2%	1.9%	15.6%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	14.6%	7.5%	15.7%	9.2%	24.6%	36.7%	8.4%	21.8%
Return on invested capital	9.0%	4.7%	10.6%	6.8%	18.2%	31.5%	7.2%	17.6%
Return on assets	8.8%	4.9%	11.6%	7.1%	18.0%	27.3%	5.4%	14.2%
Free cash flow yield	-4.0%	-13.6%	-0.6%	0.5%	-3.7%	0.9%	0.5%	-0.5%
Earnings yield	3.8%	3.0%	3.1%	2.8%	4.3%	4.9%	0.7%	1.7%
Enterprise value	₹13.8B	₹7.6B	₹13.5B	₹7.7B	₹11.8B	₹11.7B	₹11.8B	₹11.8B
Net debt / EBITDA	1.21×	1.99×	0.5×	0.61×	0.37×	0.16×	1.22×	0.73×
Cash conversion cycle (days)	118	68	83	93	120	83	104	95