Nirav Commercials Limited (NIRAVCOM.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

-121.3%

-₹140.28

vs ₹659.30 price

Levered DCF

₹3,579.87

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

B-

Overall 3 / 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	59.59×	811.62×	79.18×	26.48×	12.33×	1.91×	481.91×	115.86×
P/B	0.8×	1.5×	0.85×	0.61×	0.62×	0.66×	1.02×	1.01×
P/S	1.86×	4.68×	2.41×	1.85×	1.6×	3.38×	4.77×	3.41×
EV / EBITDA	56.78×	106.84×	39.1×	16.86×	-420.36×	1.88×	-15.12×	-31.16×
Gross margin	27.3%	22.8%	35.3%	34.3%	22.4%	10.5%	23.6%	35.0%
Operating margin	2.2%	-5.6%	-2.6%	3.3%	-0.8%	-9.2%	-32.3%	-11.7%
Net margin	3.1%	0.4%	3.0%	7.0%	13.0%	176.6%	1.0%	2.9%
Current ratio	33.93×	3.5×	4.24×	9.67×	12.42×	35.09×	11.52×	9.84×
Debt / equity	0×	0.02×	0.01×	0×	0×	0×	0×	0×
Interest coverage	1.12×	-2.2×	-1.97×	9.16×	-5.66×	-134.64×	-150.12×	-56.3×
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	1.3%	0.1%	1.1%	2.3%	5.0%	34.7%	0.2%	0.9%
Return on invested capital	0.9%	-1.7%	-0.7%	0.8%	-0.3%	-1.8%	-6.5%	-3.5%
Return on assets	1.3%	0.1%	1.0%	2.2%	4.8%	33.7%	0.2%	0.8%
Free cash flow yield	-12.4%	-0.4%	13.7%	21.7%	76.3%	-64.6%	-54.9%	-0.4%
Earnings yield	1.7%	0.1%	1.3%	3.8%	8.1%	52.3%	0.2%	0.9%
Enterprise value	₹249.8M	₹459.4M	₹253.9M	₹160.2M	₹174.9M	₹175.8M	₹174.4M	₹173.8M
Net debt / EBITDA	-0.09×	0.89×	0×	-1.83×	6.5×	-0.02×	0.28×	0.68×
Cash conversion cycle (days)	0	172	225	290	207	1,153	629	440