Panabyte Technologies Ltd. (PANABYTE.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

-211.7%

-₹19.53

vs ₹17.49 price

Levered DCF

-₹43.09

After debt service

Piotroski score

4 / 9

Average

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	125.3×	180.95×	-23.94×	-14.71×	622.41×	-28.85×	40.54×	-17.86×
P/B	1.96×	3.97×	4.4×	2.23×	1.96×	1.97×	1.91×	1.89×
P/S	1.7×	2.3×	2.91×	0.74×	0.78×	0.67×	0.44×	0.63×
EV / EBITDA	23.71×	32.88×	2,073.31×	365.1×	153.73×	-75.93×	489.18×	-10.92×
Gross margin	39.8%	40.2%	63.5%	36.8%	35.5%	21.1%	15.2%	5.2%
Operating margin	5.0%	3.4%	-2.9%	-1.0%	0.6%	8.3%	6.1%	1.0%
Net margin	1.4%	1.1%	-12.2%	-5.0%	0.1%	-2.3%	1.1%	-3.6%
Current ratio	1.84×	1.38×	1.24×	1.29×	1.43×	1.41×	1.34×	1.84×
Debt / equity	0.46×	0.74×	1.19×	1.14×	0.81×	0.71×	0.57×	0×
Interest coverage	1.07×	0.68×	-0.25×	-0.22×	1.97×	18.85×	10.21×	812.93×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	1.2%	2.3%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	46.8%	-41.5%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	1.6%	1.9%	-18.4%	-15.2%	0.3%	-6.8%	4.7%	-10.6%
Return on invested capital	2.2%	2.4%	-1.5%	-1.0%	0.4%	11.8%	16.9%	3.0%
Return on assets	0.8%	0.6%	-4.0%	-3.5%	0.1%	-1.9%	1.2%	-5.0%
Free cash flow yield	-13.6%	-8.6%	7.0%	-3.6%	-8.1%	-7.7%	-17.5%	-14.1%
Earnings yield	0.8%	0.5%	-4.2%	-6.8%	0.2%	-3.4%	2.5%	-5.6%
Enterprise value	₹183.5M	₹224.4M	₹138.9M	₹99.3M	₹92.9M	₹89.6M	₹84.7M	₹65M
Net debt / EBITDA	4.44×	4.85×	441.81×	123.26×	44.71×	-20.14×	109.03×	0.09×
Cash conversion cycle (days)	207	106	-344	-56	29	23	13	-1