Nova Iron & Steel Limited (NOVIS.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

+243.9%

₹43.47

vs ₹12.64 price

Levered DCF

-₹230.74

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

Overall 2 / 5

Ratios by fiscal year

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

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-2.63×	0.33×	-0.96×	-40.62×	-4.97×	-6.15×	-1.42×	119.47×
P/B	-1.55×	-4.32×	-0.58×	-1.39×	-1.45×	-2.22×	-3.31×	2.43×
P/S	0.09×	0.12×	0.16×	0.11×	0.12×	0.21×	1.48×	20.35×
EV / EBITDA	24.55×	1.74×	-8.41×	13.2×	16.83×	26.57×	-11.88×	210.73×
Gross margin	6.6%	6.3%	-4.8%	2.8%	1.6%	1.3%	-84.7%	-64.5%
Operating margin	2.7%	-2.5%	-7.6%	2.3%	1.0%	-0.3%	-89.1%	-118.1%
Net margin	-3.4%	35.7%	-16.6%	-0.3%	-2.4%	-3.5%	-103.8%	17.2%
Current ratio	0.29×	0.39×	0.6×	0.61×	0.66×	0.23×	0.08×	0.18×
Debt / equity	-9.8×	-21.99×	-2.56×	-6.29×	-6.57×	-9.41×	-14.83×	11.22×
Interest coverage	0×	-0.93×	-1.73×	0.93×	0.24×	-1.71×	-226.22×	-11.39×
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	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	59.0%	-1316.8%	60.3%	3.4%	29.2%	36.0%	232.1%	2.1%
Return on invested capital	5.1%	-4.2%	-12.4%	-2.6%	1.8%	0.7%	-13.7%	-1.1%
Return on assets	-5.6%	48.6%	-31.2%	-0.4%	-2.7%	-2.4%	-12.3%	0.1%
Free cash flow yield	-68.6%	-28.9%	-52.3%	11.7%	4.6%	24.1%	-2.5%	-139.0%
Earnings yield	-38.0%	304.9%	-103.9%	-2.4%	-20.1%	-16.2%	-70.2%	0.8%
Enterprise value	₹3.1B	₹3B	₹4.9B	₹4B	₹4.1B	₹3.8B	₹4B	₹4.1B
Net debt / EBITDA	21.19×	1.45×	-6.85×	10.8×	13.78×	21.49×	-9.71×	173.13×
Cash conversion cycle (days)	-14	-16	25	14	13	-24	-225	2,812