Nicco Parks & Resorts Limited (NICCOPAR.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

+65.8%

₹114.73

vs ₹69.20 price

Levered DCF

₹129.30

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-106.57×	24.44×	28.78×	24.17×	62.5×	-68.67×	21.42×	14.48×
P/B	2.78×	5.12×	7.62×	7.26×	5.34×	4.7×	2.93×	2.6×
P/S	4.38×	7.32×	8.98×	7.12×	9.71×	13.76×	2.89×	2.44×
EV / EBITDA	24.51×	17.27×	22.63×	16.9×	37.34×	-169.97×	13.63×	10.12×
Gross margin	53.6%	91.9%	39.0%	71.1%	73.2%	-12.7%	30.8%	29.2%
Operating margin	11.5%	25.7%	31.6%	36.0%	11.5%	-36.0%	15.1%	16.6%
Net margin	-4.1%	29.9%	31.2%	29.4%	15.5%	-20.1%	13.5%	16.9%
Current ratio	2.54×	3.19×	3.02×	2.27×	2.66×	2.13×	2.24×	2.15×
Debt / equity	0×	0.01×	0.01×	0.01×	0.05×	0.06×	0.09×	0.03×
Interest coverage	2,247.71×	609.04×	83,564×	92.69×	10.89×	-12.35×	17.11×	34.11×
Dividend yield	2.3%	1.1%	1.0%	1.0%	0.0%	0.0%	2.8%	2.1%
Payout ratio	-240.4%	27.1%	28.4%	23.9%	0.0%	0.0%	60.5%	30.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-2.6%	20.9%	26.5%	30.0%	8.6%	-6.9%	13.7%	18.0%
Return on invested capital	-85.9%	12.7%	17.8%	23.1%	4.4%	-8.6%	10.1%	12.3%
Return on assets	-2.0%	16.5%	20.3%	22.9%	6.5%	-5.2%	9.9%	13.4%
Free cash flow yield	-2.7%	1.4%	2.2%	4.0%	2.1%	-1.4%	1.5%	5.1%
Earnings yield	-0.9%	4.1%	3.5%	4.1%	1.6%	-1.5%	4.7%	6.9%
Enterprise value	₹2.6B	₹5.4B	₹7.1B	₹5.4B	₹3B	₹2.4B	₹1.6B	₹1.4B
Net debt / EBITDA	-3.34×	-0.17×	-0.09×	-0.2×	-0.3×	-1.48×	0.35×	0.05×
Cash conversion cycle (days)	-39	-216	-16	-81	-70	-22	-0	-29