OK Play India Limited (OKPLA.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

-2938.0%

-₹75.78

vs ₹2.67 price

Levered DCF

-₹51.33

After debt service

Piotroski score

5 / 9

Average

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	36.38×	-523.04×	375.64×	-80.4×	-9.48×	-5.9×	-11×	1.27×
P/B	0.64×	2.74×	2.64×	4.26×	1.87×	1×	0.69×	0.14×
P/S	0.54×	2.59×	1.8×	0.85×	0.72×	0.52×	0.48×	0.05×
EV / EBITDA	6.84×	15.81×	13.32×	9.25×	14.78×	9.96×	11.27×	3.52×
Gross margin	18.5%	45.0%	41.6%	41.8%	39.3%	42.3%	47.9%	46.5%
Operating margin	3.4%	7.5%	11.7%	11.1%	1.5%	8.5%	6.1%	20.8%
Net margin	1.5%	-0.5%	0.6%	-1.1%	-7.7%	-8.7%	-4.5%	4.0%
Current ratio	1.41×	1.33×	1.33×	0.89×	0.74×	0.78×	1.06×	1.03×
Debt / equity	0.66×	0.73×	0.88×	3.94×	3.58×	2.65×	2.31×	2.1×
Interest coverage	0.58×	0.87×	1.45×	1.18×	0.12×	0.46×	0.32×	1.99×
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	1.8%	-0.5%	0.9%	-5.4%	-20.0%	-16.9%	-6.4%	10.7%
Return on invested capital	2.4%	-0.7%	2.1%	-7.6%	0.6%	3.9%	1.1%	7.9%
Return on assets	0.8%	-0.2%	0.4%	-0.8%	-3.3%	-3.4%	-1.6%	2.9%
Free cash flow yield	3.6%	-12.7%	-11.2%	7.7%	-11.0%	33.2%	27.8%	165.4%
Earnings yield	2.7%	-0.2%	0.3%	-1.3%	-10.7%	-16.9%	-9.3%	78.5%
Enterprise value	₹2.1B	₹5.5B	₹4.4B	₹3B	₹2.1B	₹1.7B	₹1.7B	₹1.3B
Net debt / EBITDA	3.4×	3.31×	3.29×	4.45×	9.7×	7.22×	8.69×	3.31×
Cash conversion cycle (days)	185	318	257	217	318	348	459	215