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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
-1309.3%
-₹1,183.21
vs ₹97.84 price
Levered DCF
-₹1,860.96
After debt service
Piotroski score
2 / 9
Weak
Altman Z-score
-1.92
Distress zone
Rating
D+
Overall 1 / 5
Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-2.18×-1.03×-2.15×-0.77×0.01×-4.61×-0.61×-1.43×
P/B-0.35×-0.41×-0.7×-0.4×-0.74×-0.36×-0.4×-1.19×
P/S0.98×1.1×0.99×1.18×0×0×0×1.42×
EV / EBITDA-16.44×-14.29×-26.88×-4.96×1.37×-32.63×-3.58×-14.63×
Gross margin-20.4%-47.4%-4.3%5.2%0.0%0.0%0.0%-29.3%
Operating margin-58.2%-73.8%-39.9%-78.8%0.0%0.0%0.0%-52.1%
Net margin-45.0%-106.8%-45.8%-154.0%0.0%0.0%0.0%-98.7%
Current ratio0.77×0.53×0.47×0.15×0.07×0.27×0.11×0.25×
Debt / equity-1.6×-1.73×-2.06×-2.02×-3.88×-0.5×-0.53×-1.56×
Interest coverage-1.16×-1.66×-2.24×-597.8×-7,887.64×-1×-0.2×-0.85×
Dividend yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Payout ratio0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity16.0%39.2%32.5%52.4%-326.7%7.9%64.7%83.1%
Return on invested capital-29.3%-36.8%-26.5%-26.2%-96.5%8.5%15.9%-45.9%
Return on assets-17.7%-41.7%-26.6%-39.8%253.8%-7.6%-56.5%-23.2%
Free cash flow yield-60.2%-53.6%-99.4%-209.9%76.3%6.3%0.3%28.5%
Earnings yield-45.8%-96.7%-46.4%-130.1%440.8%-21.7%-163.3%-69.7%
Enterprise value₹4.7B₹4.9B₹4.7B₹2.7B₹2.8B₹2.3B₹2.3B₹2.2B
Net debt / EBITDA-13.5×-11.58×-20.07×-4.13×1.15×-18.78×-2.05×-8.28×
Cash conversion cycle (days)1733137-16822-1,203-683206