Nureca Limited (NURECA.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

-54.1%

₹137.36

vs ₹299.15 price

Levered DCF

-₹53.04

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

5.79

Safe zone

Rating

B-

Overall 3 / 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	97.99×	257.56×	-155.34×	-36.31×	30.43×	9.69×	70.65×	73.97×
P/B	1.13×	1.13×	1.44×	1.54×	6.73×	2.75×	30.27×	53.88×
P/S	1.39×	2×	3.02×	2.69×	5.35×	2.1×	4.55×	7.44×
EV / EBITDA	19.3×	45.09×	1,105.85×	-38.26×	21.59×	6.79×	49.14×	51.14×
Gross margin	24.0%	21.1%	33.9%	32.0%	48.0%	53.3%	35.0%	35.1%
Operating margin	4.4%	-8.7%	-12.6%	-14.6%	22.2%	29.1%	9.4%	14.5%
Net margin	1.4%	0.8%	-2.0%	-7.4%	17.6%	21.7%	6.4%	10.1%
Current ratio	8.32×	15.32×	20.77×	21×	16.85×	9.6×	3.45×	1.5×
Debt / equity	0.01×	0.03×	0.01×	0.02×	0.02×	0.02×	0.65×	0.05×
Interest coverage	5.07×	-7.86×	-23.65×	-36.11×	76.52×	67.04×	12.12×	37.03×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.4%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	11.1%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	1.2%	0.4%	-0.9%	-4.2%	22.1%	28.4%	42.8%	72.9%
Return on invested capital	1.5%	-3.0%	-4.1%	-6.3%	20.1%	27.6%	28.1%	75.4%
Return on assets	1.1%	0.4%	-0.9%	-4.0%	20.5%	25.0%	18.9%	26.5%
Free cash flow yield	0.9%	-10.7%	-1.4%	3.3%	-0.3%	7.6%	-1.8%	0.0%
Earnings yield	1.0%	0.4%	-0.6%	-2.8%	3.3%	10.3%	1.4%	1.4%
Enterprise value	₹1.6B	₹2.2B	₹2.7B	₹3B	₹13.6B	₹4.4B	₹4.6B	₹4.6B
Net debt / EBITDA	-4.6×	0.35×	-47.91×	-0.36×	-0.06×	-0.21×	1.03×	0.04×
Cash conversion cycle (days)	158	158	161	156	174	113	115	87