Oriental Aromatics Limited (OAL.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

-168.5%

-₹390.04

vs ₹569.80 price

Levered DCF

-₹668.95

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	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	243.11×	28.03×	122.29×	59.86×	44.45×	19.36×	5.28×	11.47×
P/B	1.21×	1.45×	1.76×	1.89×	3.92×	3.54×	0.98×	1.67×
P/S	0.78×	1.04×	1.33×	1.39×	2.74×	2.78×	0.6×	0.87×
EV / EBITDA	15.39×	13.5×	24.47×	25.73×	25.82×	13.05×	3.79×	7.32×
Gross margin	9.9%	14.0%	18.2%	19.1%	21.8%	33.3%	27.8%	25.3%
Operating margin	3.6%	7.2%	10.7%	4.1%	9.2%	19.9%	14.4%	13.1%
Net margin	0.3%	3.7%	1.1%	2.3%	6.2%	14.4%	11.3%	7.6%
Current ratio	1.59×	1.72×	1.9×	2.15×	2.99×	3.01×	3.18×	1.79×
Debt / equity	0.61×	0.53×	0.33×	0.37×	0.23×	0.14×	0.11×	0.47×
Interest coverage	1.03×	2.63×	4.4×	2.68×	19.69×	82.29×	16×	7.6×
Dividend yield	0.2%	0.2%	0.2%	0.0%	0.2%	0.4%	3.1%	0.3%
Payout ratio	50.8%	4.9%	18.5%	0.0%	9.5%	8.3%	16.5%	3.6%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	0.5%	5.2%	1.4%	3.2%	8.8%	18.3%	18.6%	14.6%
Return on invested capital	1.0%	4.6%	6.6%	2.8%	7.2%	15.8%	16.8%	11.1%
Return on assets	0.3%	3.0%	0.9%	2.0%	6.2%	13.7%	14.2%	8.5%
Free cash flow yield	-5.5%	-15.1%	3.8%	-5.8%	-2.5%	-0.9%	37.6%	-5.5%
Earnings yield	0.4%	3.6%	0.8%	1.7%	2.2%	5.2%	18.9%	8.7%
Enterprise value	₹11.9B	₹13B	₹13.1B	₹14B	₹25B	₹20.4B	₹4.9B	₹8.3B
Net debt / EBITDA	5.02×	3.54×	3.65×	3.96×	1.37×	0.41×	0.25×	1.57×
Cash conversion cycle (days)	206	207	183	231	194	218	144	175