Orient Cement Limited (ORIENTCEM.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

+532.7%

₹756.67

vs ₹119.60 price

Levered DCF

₹333.70

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

2.86

Grey zone

Rating

A+

Overall 4 / 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	7.48×	76.61×	24.99×	18.36×	11.07×	9.36×	10.57×	35.5×
P/B	1.18×	3.87×	2.51×	1.4×	1.91×	1.53×	0.82×	1.6×
P/S	0.9×	2.58×	1.37×	0.77×	1.07×	0.86×	0.38×	0.67×
EV / EBITDA	4.69×	21.83×	9.61×	6.87×	5.35×	4.88×	5.31×	9.15×
Gross margin	24.0%	58.8%	41.6%	84.4%	83.9%	83.5%	45.0%	41.7%
Operating margin	11.4%	5.5%	9.7%	7.7%	16.4%	17.7%	10.0%	7.1%
Net margin	12.1%	3.4%	5.5%	4.2%	9.7%	9.2%	3.6%	1.9%
Current ratio	1.95×	1.38×	1.16×	0.83×	0.64×	1×	1×	0.9×
Debt / equity	0.03×	0.04×	0.1×	0.25×	0.21×	0.61×	1.1×	1.22×
Interest coverage	25.1×	6.54×	9.06×	5.97×	8.75×	4.41×	2.03×	1.55×
Dividend yield	0.4%	0.4%	0.8%	2.0%	1.6%	1.3%	2.0%	1.1%
Payout ratio	3.0%	33.7%	20.5%	37.5%	17.5%	12.0%	21.4%	39.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	15.7%	5.0%	10.0%	7.7%	17.3%	16.4%	7.7%	4.5%
Return on invested capital	12.8%	4.1%	8.3%	6.1%	13.6%	11.3%	6.1%	4.6%
Return on assets	10.8%	3.3%	6.1%	4.3%	9.9%	7.6%	3.0%	1.6%
Free cash flow yield	-2.7%	2.1%	7.9%	-0.8%	16.1%	33.1%	23.4%	9.5%
Earnings yield	13.4%	1.3%	4.0%	5.5%	9.0%	10.7%	9.5%	2.8%
Enterprise value	₹25.8B	₹70.1B	₹44.6B	₹25.8B	₹31.9B	₹27.7B	₹21.1B	₹29.5B
Net debt / EBITDA	0.1×	0.07×	0.2×	0.87×	0.46×	1.35×	3.01×	3.93×
Cash conversion cycle (days)	68	63	48	129	-18	4	41	29