Pavna Industries Limited (PAVNAIND.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

-187.7%

-₹11.10

vs ₹12.65 price

Levered DCF

-₹83.31

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

—

Rating

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	43.03×	6.17×	6.12×	2.79×	2.58×	3.29×	5.53×	3.5×
P/B	0.97×	0.22×	0.89×	0.38×	0.37×	0.43×	0.77×	0.96×
P/S	0.67×	0.15×	0.2×	0.06×	0.06×	0.09×	0.11×	0.15×
EV / EBITDA	10.77×	2.3×	5.07×	4.84×	4.63×	3.92×	3.67×	3.26×
Gross margin	21.6%	20.1%	10.4%	36.0%	10.7%	31.4%	40.8%	31.6%
Operating margin	4.8%	6.5%	6.3%	6.0%	6.5%	7.3%	7.9%	6.9%
Net margin	1.6%	2.4%	3.3%	2.3%	2.5%	2.8%	2.1%	4.3%
Current ratio	1.37×	3.14×	1.11×	1.16×	1.22×	1.22×	1.09×	0.73×
Debt / equity	0.55×	0.18×	1.68×	2.26×	2.23×	1.22×	1.83×	0.91×
Interest coverage	2.25×	1.88×	1.79×	1.99×	2.3×	3.01×	3.73×	5.83×
Dividend yield	0.0%	0.0%	0.0%	5.2%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	14.6%	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	2.3%	3.7%	14.5%	13.6%	14.4%	13.0%	13.8%	27.5%
Return on invested capital	2.9%	5.7%	7.2%	7.1%	7.7%	9.2%	10.1%	16.7%
Return on assets	1.2%	2.6%	4.1%	3.0%	3.3%	3.8%	3.1%	9.2%
Free cash flow yield	-26.4%	-72.0%	-23.1%	-29.3%	-258.8%	-93.6%	-149.4%	3.0%
Earnings yield	2.3%	16.5%	16.3%	35.8%	38.8%	30.4%	18.0%	28.6%
Enterprise value	₹3.1B	₹800.3M	₹1.9B	₹1.6B	₹1.4B	₹784M	₹681.3M	₹394.2M
Net debt / EBITDA	3.86×	1.01×	3.32×	4.15×	3.97×	2.9×	2.57×	1.57×
Cash conversion cycle (days)	202	191	150	160	124	83	76	14