Parnax Lab Limited (PARNAXLAB.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

-462.0%

-₹383.86

vs ₹106.05 price

Levered DCF

-₹366.99

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	12.52×	10.4×	15.49×	6.68×	13.6×	-45.35×	-3.53×	8.69×
P/B	1.55×	1.44×	2.08×	0.93×	2.33×	0.51×	0.31×	0.8×
P/S	0.59×	0.64×	0.79×	0.34×	0.69×	0.18×	0.11×	0.26×
EV / EBITDA	7.75×	6.64×	9.4×	4.69×	7.59×	7.49×	8.8×	5.86×
Gross margin	26.7%	48.9%	13.1%	30.6%	29.5%	32.8%	30.2%	34.8%
Operating margin	7.7%	10.3%	8.8%	10.0%	10.8%	5.5%	2.4%	6.8%
Net margin	4.7%	6.1%	5.1%	5.1%	5.1%	-0.4%	-3.1%	3.0%
Current ratio	0.97×	0.92×	0.92×	0.97×	0.92×	0.72×	0.87×	1.02×
Debt / equity	0.87×	0.84×	1.13×	0.88×	1.43×	1.81×	1.56×	1.17×
Interest coverage	3.36×	3.6×	3.17×	3.42×	3.41×	0.98×	0.51×	1.9×
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	12.4%	13.9%	13.4%	13.9%	17.1%	-1.1%	-8.9%	9.2%
Return on invested capital	7.7%	9.0%	8.5%	9.7%	9.8%	5.3%	2.7%	6.7%
Return on assets	5.2%	6.1%	5.1%	5.9%	5.4%	-0.3%	-2.7%	3.5%
Free cash flow yield	-22.4%	11.5%	-11.1%	16.7%	-8.3%	-1.4%	-43.0%	-9.1%
Earnings yield	8.0%	9.6%	6.5%	15.0%	7.4%	-2.2%	-28.3%	11.5%
Enterprise value	₹2.3B	₹1.9B	₹2.3B	₹1.1B	₹1.8B	₹753M	₹611.5M	₹706.5M
Net debt / EBITDA	2.78×	2.43×	3.29×	2.25×	2.78×	5.84×	7.32×	3.48×
Cash conversion cycle (days)	64	77	86	86	84	106	99	80