PCS Technology Limited (PCS.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

-6.5%

₹19.23

vs ₹20.56 price

Levered DCF

₹11.86

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

43.95

Safe zone

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	21.16×	45.22×	68.88×	68.37×	44.88×	23.57×	-0.95×	-9.01×
P/B	0.78×	1.35×	1.6×	0.63×	0.9×	0.25×	0.12×	0.43×
P/S	92.69×	167.64×	205.47×	85.45×	136.6×	39.91×	16.75×	34.45×
EV / EBITDA	0.64×	11.35×	19.62×	-2.33×	-12.16×	-12.28×	4.54×	-23.54×
Gross margin	-223.8%	-221.0%	-120.5%	-144.2%	-161.3%	-180.1%	-164.5%	-128.5%
Operating margin	-385.2%	-424.5%	-421.7%	-473.6%	-505.6%	-570.9%	-600.7%	-160.6%
Net margin	438.0%	368.5%	298.3%	124.6%	303.4%	172.9%	-1767.3%	-383.5%
Current ratio	64.2×	63.31×	84.62×	75.27×	92.84×	82.89×	199×	10.71×
Debt / equity	0×	0×	0.09×	0.09×	0.09×	0.09×	0.09×	0.08×
Interest coverage	-100.83×	-4×	-3.57×	-3.77×	-3.58×	-3.82×	-3.64×	-1.89×
Dividend yield	0.0%	0.5%	0.5%	1.3%	0.9%	0.0%	0.0%	0.0%
Payout ratio	0.0%	22.0%	35.0%	90.1%	41.8%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	3.7%	3.0%	2.3%	0.9%	2.0%	1.1%	-12.8%	-4.8%
Return on invested capital	-2.4%	-2.4%	-2.2%	-1.7%	-2.5%	-1.7%	-3.9%	-1.8%
Return on assets	3.6%	2.9%	2.1%	0.8%	1.8%	1.0%	-11.6%	-4.1%
Free cash flow yield	5.5%	-2.0%	-1.4%	-3.2%	-1.9%	-8.8%	-20.6%	-22.7%
Earnings yield	4.7%	2.2%	1.5%	1.5%	2.2%	4.3%	-105.5%	-11.1%
Enterprise value	₹16.7M	₹284.3M	₹386.4M	-₹31.7M	₹88.9M	-₹181M	-₹227M	₹221.2M
Net debt / EBITDA	-13.42×	-13.12×	-16.17×	-22.34×	40.53×	-19.31×	5.54×	-2.25×
Cash conversion cycle (days)	-16	482	479	457	392	285	347	2,197