Nupur Recyclers Limited (NRL.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

-77.6%

₹38.95

vs ₹173.70 price

Levered DCF

-₹52.97

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

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	22.69×	28.67×	98.29×	39.46×	30.19×	52.28×	14,087.5×	42,262.5×
P/B	2.41×	3.53×	8.28×	6.58×	9.03×	51.97×	9,359.74×	23,828.03×
P/S	1.49×	2.62×	2.95×	2.58×	3.58×	5.03×	38.65×	557.01×
EV / EBITDA	12.58×	15.84×	54.39×	24.82×	20.61×	35.82×	1,458.07×	31,934.76×
Gross margin	10.2%	14.3%	4.7%	9.0%	15.6%	14.2%	8.3%	15.8%
Operating margin	6.2%	8.8%	2.8%	6.8%	14.2%	13.4%	1.6%	1.7%
Net margin	6.6%	9.1%	3.0%	6.5%	11.9%	9.6%	0.3%	1.2%
Current ratio	5.28×	8.57×	5.26×	9.71×	5.39×	0.99×	1×	1×
Debt / equity	0.25×	0.11×	0.16×	0×	0.04×	0.78×	46.21×	128.3×
Interest coverage	5.39×	7.52×	18.57×	40.88×	24.95×	10.2×	0.69×	0×
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	10.6%	12.3%	8.4%	16.7%	29.9%	99.5%	60.7%	52.8%
Return on invested capital	5.6%	7.6%	4.4%	12.1%	25.1%	63.7%	-3.9%	0.4%
Return on assets	7.2%	10.0%	6.3%	13.6%	25.6%	39.7%	0.4%	0.4%
Free cash flow yield	-0.5%	-5.5%	-1.7%	-3.6%	2.3%	1.8%	0.1%	0.0%
Earnings yield	4.4%	3.5%	1.0%	2.5%	3.3%	1.9%	0.0%	0.0%
Enterprise value	₹3.5B	₹4B	₹7.1B	₹4.8B	₹5.5B	₹5.3B	₹5.1B	₹5.1B
Net debt / EBITDA	0.95×	-0.76×	0.46×	-0.15×	-0.79×	0.52×	6.94×	164.05×
Cash conversion cycle (days)	121	163	93	27	48	11	136	781