Paisalo Digital Limited (PAISALO.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

+163.0%

₹203.30

vs ₹77.29 price

Levered DCF

-₹562.34

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

1.08

Distress 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	12.87×	15.32×	16.9×	25.1×	42.12×	57.25×	12.75×	21.42×
P/B	1.7×	2×	4.42×	2.02×	3.28×	3.86×	0.9×	1.82×
P/S	3.24×	4×	9.03×	4.96×	8.55×	9.66×	1.84×	3.35×
EV / EBITDA	21.97×	23.83×	34.83×	13.14×	17.12×	19.34×	8.13×	26.22×
Gross margin	57.7%	54.9%	57.5%	55.9%	53.1%	53.2%	58.2%	0.0%
Operating margin	38.3%	42.0%	42.3%	26.7%	27.3%	22.5%	19.8%	23.5%
Net margin	25.1%	26.1%	27.5%	19.8%	20.2%	16.8%	14.4%	15.6%
Current ratio	3.57×	27.71×	0.95×	16.76×	3.93×	4.8×	6.71×	45.12×
Debt / equity	2.43×	2.32×	2×	1.82×	1.64×	1.56×	1.62×	1.74×
Interest coverage	0×	0×	0×	0.6×	0.58×	0.48×	0.47×	0×
Dividend yield	0.3%	0.3%	0.1%	0.2%	0.1%	0.1%	0.7%	0.4%
Payout ratio	3.8%	4.5%	2.5%	4.8%	5.3%	7.3%	9.0%	8.7%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	13.2%	13.0%	13.5%	8.1%	7.7%	6.7%	7.1%	8.5%
Return on invested capital	4.3%	4.7%	4.8%	103.6%	47.6%	2.6%	56.9%	2.6%
Return on assets	3.8%	3.8%	4.3%	2.8%	2.9%	2.6%	2.4%	2.6%
Free cash flow yield	7.2%	-27.9%	-9.8%	-19.6%	-11.9%	-2.9%	5.1%	-0.5%
Earnings yield	7.8%	6.5%	3.0%	4.0%	2.4%	1.7%	7.8%	4.7%
Enterprise value	₹72.6B	₹65.2B	₹85.2B	₹44.3B	₹50.2B	₹46.8B	₹18.9B	₹23.5B
Net debt / EBITDA	12.74×	12.63×	10.81×	6.19×	5.69×	5.52×	5.17×	12.74×
Cash conversion cycle (days)	-16	2,332	-13	56	27	-4	83	13