PCBL Limited (PCBL.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

-79.8%

₹55.86

vs ₹276.35 price

Levered DCF

₹269.44

After debt service

Piotroski score

6 / 9

Average

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	46.98×	36.93×	21.18×	9.92×	9.68×	10.48×	3.77×	8.03×
P/B	2.32×	4.34×	3.2×	1.55×	1.58×	1.7×	0.64×	1.87×
P/S	1.14×	1.91×	1.62×	0.76×	0.93×	1.24×	0.33×	0.87×
EV / EBITDA	13.3×	16.59×	15.23×	7.51×	7.59×	7.53×	3.62×	6.12×
Gross margin	20.0%	30.2%	29.8%	24.0%	28.8%	38.7%	31.8%	33.6%
Operating margin	8.2%	24.8%	25.5%	20.0%	24.3%	32.8%	27.2%	29.8%
Net margin	2.4%	5.2%	7.6%	7.7%	9.6%	11.8%	8.8%	10.9%
Current ratio	0.83×	0.96×	1.07×	1.09×	1.44×	1.34×	1.11×	1.18×
Debt / equity	1.25×	1.51×	1.53×	0.36×	0.3×	0.37×	0.44×	0.48×
Interest coverage	1.58×	4.52×	9.05×	21.65×	37.18×	25.74×	19.19×	28.55×
Dividend yield	2.4%	1.3%	2.0%	4.7%	4.6%	3.7%	13.5%	3.1%
Payout ratio	114.5%	47.8%	42.3%	47.0%	44.3%	38.5%	50.8%	25.2%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	4.9%	11.8%	15.1%	15.6%	16.3%	16.2%	16.9%	23.3%
Return on invested capital	5.4%	16.4%	13.0%	21.3%	23.5%	23.7%	26.3%	29.7%
Return on assets	1.8%	3.7%	4.3%	8.1%	8.9%	8.4%	8.7%	11.3%
Free cash flow yield	4.5%	-0.1%	5.5%	-8.9%	-0.4%	8.2%	27.8%	1.9%
Earnings yield	2.1%	2.7%	4.7%	10.1%	10.3%	9.5%	26.5%	12.5%
Enterprise value	₹140.6B	₹213B	₹150.6B	₹53.7B	₹47.9B	₹38.6B	₹16.8B	₹37.6B
Net debt / EBITDA	4.5×	4.09×	4.72×	1.38×	1.06×	1.12×	1.29×	1.11×
Cash conversion cycle (days)	39	58	32	39	56	64	52	61