Pansari Developers Limited (PANSARI.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

-373.7%

-₹766.35

vs ₹280.00 price

Levered DCF

-₹1,562.90

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.25

Distress zone

Rating

D+

Overall 1 / 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	22.18×	36.5×	27.03×	70.13×	62.68×	24.19×	14.53×	26.88×
P/B	2.86×	2×	1.11×	1.16×	1.91×	0.82×	0.67×	0.92×
P/S	4.59×	6.72×	2.49×	8.64×	4.26×	3.04×	1.33×	5.22×
EV / EBITDA	36.32×	21.02×	17.92×	41.26×	34.92×	15.37×	14.24×	21.16×
Gross margin	14.6%	28.4%	14.2%	-14.8%	3.3%	9.2%	7.7%	26.5%
Operating margin	12.9%	23.6%	9.5%	-25.7%	-1.2%	5.9%	4.5%	6.8%
Net margin	20.7%	18.8%	9.2%	12.3%	6.8%	12.6%	9.2%	19.4%
Current ratio	1.15×	1.13×	1.12×	1.24×	1.47×	1.5×	1.47×	1.46×
Debt / equity	0.65×	0.75×	0.68×	0.67×	0.45×	0.56×	1.23×	1.22×
Interest coverage	2.74×	2.21×	1.23×	-5.29×	-0.47×	0.48×	0.46×	0.33×
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	12.9%	5.6%	4.1%	1.7%	3.1%	3.4%	4.6%	3.4%
Return on invested capital	3.7%	2.8%	2.0%	-1.4%	-0.3%	0.7%	0.7%	0.4%
Return on assets	4.1%	1.8%	1.6%	0.7%	1.7%	1.5%	1.3%	0.9%
Free cash flow yield	-3.6%	-7.1%	-0.3%	-19.4%	3.0%	17.2%	-21.0%	7.6%
Earnings yield	4.5%	2.8%	3.7%	1.4%	1.6%	4.1%	6.9%	3.7%
Enterprise value	₹5.4B	₹3.7B	₹2.2B	₹2.2B	₹2.8B	₹1.5B	₹1.1B	₹1.2B
Net debt / EBITDA	6.57×	5.65×	6.68×	15.04×	6.58×	6.1×	9.16×	11.95×
Cash conversion cycle (days)	812	2,106	1,041	2,814	785	1,922	1,768	7,682