NINtec Systems Limited (NINSYS.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

+218.4%

₹3,079.03

vs ₹967.00 price

Levered DCF

₹2,933.38

After debt service

Piotroski score

—

Altman Z-score

—

Rating

Overall 4 / 5

Ratios by fiscal year

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

Metric	FY2025	FY2024	FY2023	FY2022	FY2021
P/E	23.1×	32.57×	60.84×	48.41×	104.87×
P/B	8.07×	13.98×	26.99×	13.88×	20.88×
P/S	4.34×	6.13×	11.36×	8.32×	14.65×
EV / EBITDA	15.39×	22.32×	43.46×	32.5×	71.23×
Gross margin	33.4%	32.0%	36.9%	34.8%	27.7%
Operating margin	24.2%	22.1%	22.7%	16.3%	15.6%
Net margin	18.8%	18.8%	18.7%	17.2%	14.0%
Current ratio	2.86×	2.15×	2.53×	4.22×	5.91×
Debt / equity	0.02×	0.03×	0.07×	0×	0×
Interest coverage	126.83×	112.95×	927.62×	263,730×	3,873.38×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021
Return on equity	34.9%	42.9%	44.4%	28.7%	19.9%
Return on invested capital	31.9%	36.0%	37.5%	19.8%	16.1%
Return on assets	22.2%	23.2%	25.9%	21.7%	16.1%
Free cash flow yield	3.6%	2.1%	0.7%	2.3%	0.2%
Earnings yield	4.3%	3.1%	1.6%	2.1%	1.0%
Enterprise value	₹7B	₹8.3B	₹9.4B	₹2.6B	₹2.9B
Net debt / EBITDA	-0.81×	-0.65×	-0.31×	-1.43×	-1.09×
Cash conversion cycle (days)	11	-10	6	18	13