Panchmahal Steel Limited (PANCHMAHQ.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

-59.6%

₹114.40

vs ₹283.00 price

Levered DCF

₹369.29

After debt service

Piotroski score

4 / 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	-258.03×	80.46×	97.76×	190×	4.86×	6.21×	-0.93×	27.57×
P/B	3.89×	1.67×	1.85×	1.7×	1.78×	0.6×	0.33×	0.57×
P/S	1.53×	0.69×	0.68×	0.53×	0.5×	0.18×	0.09×	0.16×
EV / EBITDA	43.95×	17.39×	17.43×	19.92×	3.87×	4.18×	123.96×	7.44×
Gross margin	17.6%	19.3%	10.1%	25.3%	24.8%	6.8%	8.0%	10.0%
Operating margin	0.8%	13.6%	1.9%	1.7%	11.5%	4.7%	-0.9%	3.4%
Net margin	-0.6%	0.9%	0.7%	0.3%	10.2%	2.9%	-9.8%	0.6%
Current ratio	2.56×	2.44×	2.39×	1.62×	1.7×	1.19×	1.1×	1.15×
Debt / equity	0.23×	0.31×	0.25×	0.5×	0.18×	0.54×	0.79×	0.56×
Interest coverage	0.59×	9.34×	1.02×	1.14×	11.22×	1.55×	-0.22×	1.12×
Dividend yield	1.0%	0.0%	0.0%	2.9%	0.0%	0.0%	0.0%	0.0%
Payout ratio	-251.8%	0.0%	0.0%	553.7%	0.0%	0.0%	0.0%	0.9%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-1.5%	2.1%	1.9%	0.9%	36.6%	9.6%	-35.1%	2.1%
Return on invested capital	-5.0%	17.6%	3.0%	2.5%	29.6%	10.1%	-1.8%	5.3%
Return on assets	-1.0%	1.4%	1.3%	0.5%	19.6%	3.5%	-12.7%	0.9%
Free cash flow yield	4.3%	-2.0%	10.6%	-14.1%	11.2%	47.2%	20.0%	19.0%
Earnings yield	-0.4%	1.2%	1.0%	0.5%	20.6%	16.1%	-107.2%	3.6%
Enterprise value	₹6.2B	₹3.2B	₹3.3B	₹3.4B	₹3.1B	₹1.1B	₹1B	₹1.4B
Net debt / EBITDA	2.47×	2.71×	2.1×	4.51×	0.31×	1.96×	87.5×	3.68×
Cash conversion cycle (days)	158	169	127	115	88	76	88	71