Noida Toll Bridge Company Limited (NOIDATOLL.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

-271.2%

-₹5.91

vs ₹3.45 price

Levered DCF

₹75.68

After debt service

Piotroski score

5 / 9

Average

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	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	2×	-0.21×	-4.59×	-3.57×	-3.33×	-2.8×	-1.63×	-2.98×
P/B	-4.32×	-1.29×	0.71×	0.53×	0.51×	0.36×	0.14×	0.28×
P/S	1.27×	1.27×	6.99×	5.3×	8.54×	8.64×	2×	5.26×
EV / EBITDA	3.47×	-0.43×	30.71×	31.24×	-644.26×	142.05×	10.89×	-24.01×
Gross margin	40.4%	100.0%	-143.8%	-142.4%	-229.0%	-287.7%	99.2%	-195.2%
Operating margin	26.4%	-35.0%	-166.0%	-161.8%	-261.6%	-314.0%	-127.7%	-235.9%
Net margin	63.4%	-607.0%	-152.3%	-148.4%	-256.0%	-307.6%	-123.0%	-176.3%
Current ratio	1.01×	0.51×	0.47×	0.46×	0.3×	0.3×	0.35×	0.25×
Debt / equity	-3.41×	-1.08×	0.33×	0.28×	0.25×	0.21×	0.19×	0.18×
Interest coverage	6,651.12×	-4,697.57×	-4,378.08×	-1,626.97×	-1,636.3×	-3,981.41×	-1,308.02×	-5.98×
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	-215.8%	613.8%	-15.5%	-14.9%	-15.2%	-12.7%	-8.6%	-9.4%
Return on invested capital	22.7%	-63.7%	-11.9%	-11.9%	-12.2%	-10.5%	-6.9%	-6.4%
Return on assets	25.5%	-298.5%	-9.1%	-9.2%	-10.2%	-9.0%	-6.3%	-7.0%
Free cash flow yield	90.1%	29.3%	-2.9%	18.9%	1.0%	-1.0%	21.1%	0.7%
Earnings yield	50.0%	-476.8%	-21.8%	-28.0%	-30.0%	-35.6%	-61.5%	-33.5%
Enterprise value	₹971.2M	₹927.4M	₹2.1B	₹1.9B	₹2B	₹1.8B	₹1.1B	₹1.7B
Net debt / EBITDA	1.53×	-0.19×	9.58×	10.66×	-206.99×	52.79×	6.17×	-9.22×
Cash conversion cycle (days)	21	-41,088	38	128	176	273	-11,271	84