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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
-220.4%
-₹16.73
vs ₹13.89 price
Levered DCF
-₹11.22
After debt service
Piotroski score
2 / 9
Weak
Altman Z-score
—
Rating
D+
Overall 1 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-47.32×-13.86×-11.66×-7.01×-3.76×-2.47×-4.32×-7.3×
P/B-0.88×-1.15×-1.02×-0.98×-1.15×-1.65×-4.97×32.82×
P/S1.63×2.95×2.46×1.47×1.3×1×1.56×0.75×
EV / EBITDA48.99×-174.98×-198.01×36.27×-528.51×-17.58×-14.23×-44.15×
Gross margin47.1%39.7%52.1%57.9%39.3%27.3%39.4%35.9%
Operating margin26.5%15.4%19.8%30.4%-7.6%2.0%-36.3%-8.1%
Net margin-3.5%-21.3%-21.1%-20.9%-34.6%-40.5%-36.2%-10.3%
Current ratio0.61×0.62×0.67×0.64×0.63×0.7×0.93×0.84×
Debt / equity-1.42×-1.45×-1.58×-1.72×-1.97×-2.47×-7.26×38.16×
Interest coverage0×2.23×0×0×0×0×0×0×
Dividend yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Payout ratio0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity1.9%8.3%8.7%14.1%30.5%66.8%115.1%-449.8%
Return on invested capital33.8%13.4%14.1%28.3%-6.9%2.2%-14.2%-7.5%
Return on assets-2.2%-9.0%-8.4%-12.8%-23.0%-25.1%-13.8%-8.2%
Free cash flow yield4.3%2.9%1.2%9.5%-8.7%8.4%-24.2%-18.0%
Earnings yield-2.1%-7.2%-8.6%-14.3%-26.6%-40.5%-23.2%-13.7%
Enterprise value₹347.9M₹387M₹353.3M₹336.4M₹333.2M₹306.3M₹301.2M₹263.7M
Net debt / EBITDA30.29×-97.41×-120.43×23.05×-334.03×-10.54×-8.44×-23.67×
Cash conversion cycle (days)1682514152371125621563