Pankaj Polymers Limited (PANKAJPO.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

-96.8%

₹3.36

vs ₹105.00 price

Levered DCF

-₹6.52

After debt service

Piotroski score

3 / 9

Weak

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	15.6×	-67.96×	-37×	65.24×	-149.87×	-214.83×	1.06×	-3.14×
P/B	2.63×	0.81×	0.43×	0.28×	0.28×	0.28×	0.28×	0.39×
P/S	26.39×	5.87×	2.68×	1.76×	1.76×	2.48×	4.6×	3.82×
EV / EBITDA	13.79×	-17.39×	29.67×	11.2×	19.34×	17.76×	-5.29×	-4.23×
Gross margin	-13.8%	0.9%	-13.1%	1.3%	0.7%	0.8%	1.1%	-34.9%
Operating margin	-65.0%	-13.5%	-38.9%	-40.9%	-49.5%	-46.9%	-140.0%	-148.0%
Net margin	169.2%	-8.6%	-7.2%	2.7%	-1.2%	-1.2%	434.2%	-121.5%
Current ratio	0.93×	0.94×	2.06×	3.4×	13.18×	24.43×	11.28×	9.85×
Debt / equity	0×	0.17×	0.22×	0.25×	0.3×	0.03×	0.05×	0.02×
Interest coverage	-4.87×	-0.95×	-2.83×	-2.05×	-4.61×	-14.21×	-25.31×	-9.64×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	16.8%	-1.2%	-1.2%	0.4%	-0.2%	-0.1%	26.4%	-12.3%
Return on invested capital	-6.2%	-1.5%	-4.6%	-11.9%	31.1%	4.4%	-8.2%	-13.0%
Return on assets	15.5%	-0.9%	-0.9%	0.3%	-0.1%	-0.1%	24.2%	-11.6%
Free cash flow yield	0.0%	0.7%	-8.2%	-19.0%	-22.5%	-44.5%	-139.4%	57.2%
Earnings yield	6.4%	-1.5%	-2.7%	1.5%	-0.7%	-0.5%	94.3%	-31.9%
Enterprise value	₹341.1M	₹105.6M	₹71.2M	₹58.4M	₹63.9M	₹34.1M	₹34.3M	₹32.1M
Net debt / EBITDA	-0.06×	-2.91×	10×	5.19×	9.87×	1.45×	-0.46×	-0.1×
Cash conversion cycle (days)	130	-41	245	2,039	2,273	2,313	217	330