Evonile Pharma Limited (NOVARTIND.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

-27.9%

₹1,241.24

vs ₹1,721.00 price

Levered DCF

₹1,274.75

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	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	26.5×	24.47×	19.49×	13.47×	-390.53×	65.25×	167.37×	32.56×
P/B	3.02×	3.15×	2.23×	1.79×	2.1×	1.92×	2.34×	2.22×
P/S	6.97×	6.2×	4.95×	3.67×	3.76×	3.73×	4.1×	3.74×
EV / EBITDA	19.18×	18.16×	24.85×	11.32×	123.98×	22.66×	34.78×	100.96×
Gross margin	37.5%	38.5%	39.3%	46.7%	53.2%	59.1%	54.9%	55.1%
Operating margin	26.0%	33.3%	32.8%	15.9%	6.1%	4.6%	0.2%	2.9%
Net margin	26.3%	25.3%	25.4%	27.3%	-1.0%	5.7%	2.5%	11.5%
Current ratio	5.3×	5.25×	4.45×	4.25×	3.27×	4.56×	3.49×	4.36×
Debt / equity	0×	0.01×	0.01×	0.03×	0.03×	0.09×	0.09×	0×
Interest coverage	73.13×	172.06×	73.77×	34.33×	4.92×	2.2×	0.13×	8.24×
Dividend yield	2.5%	2.5%	7.1%	1.8%	1.7%	1.8%	1.5%	1.5%
Payout ratio	66.2%	61.2%	137.7%	23.9%	-663.7%	118.1%	244.9%	47.8%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	11.4%	12.9%	11.4%	13.3%	-0.5%	2.9%	1.4%	6.8%
Return on invested capital	7.9%	12.7%	9.9%	6.5%	3.1%	1.0%	0.0%	1.0%
Return on assets	9.5%	10.6%	9.2%	10.5%	-0.4%	2.1%	0.9%	5.3%
Free cash flow yield	3.4%	3.0%	8.9%	3.2%	2.6%	-5.1%	-1.4%	-12.4%
Earnings yield	3.8%	4.1%	5.1%	7.4%	-0.3%	1.5%	0.6%	3.1%
Enterprise value	₹18B	₹24.2B	₹16.2B	₹13.9B	₹13.2B	₹13.6B	₹16.8B	₹16B
Net debt / EBITDA	-7.06×	-0.35×	-0.58×	0.02×	-12.6×	-0.1×	-0.22×	-5.54×
Cash conversion cycle (days)	36	18	25	39	21	67	51	8