PIX Transmissions Limited (PIXTRANS.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

+127.8%

₹3,783.97

vs ₹1,660.80 price

Levered DCF

₹4,752.41

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

Overall 3 / 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	18.37×	19.74×	22.14×	15.99×	19.95×	21.17×	45.43×	48.08×
P/B	2.82×	3.74×	3.73×	2.48×	3.77×	4.59×	5.81×	6.41×
P/S	3.37×	3.67×	3.75×	2.15×	3.06×	3.62×	4.33×	4.46×
EV / EBITDA	11.62×	12.21×	13.26×	9.01×	11.87×	12.48×	21.86×	22.83×
Gross margin	43.5%	65.0%	60.4%	58.4%	58.6%	60.8%	62.0%	61.0%
Operating margin	23.7%	50.0%	20.5%	16.7%	21.4%	24.4%	13.6%	14.2%
Net margin	18.4%	18.6%	17.0%	13.5%	15.4%	17.1%	9.5%	9.3%
Current ratio	6.86×	6.6×	4.98×	3.62×	2.61×	2.59×	1.73×	1.65×
Debt / equity	0.03×	0.06×	0.09×	0.17×	0.32×	0.25×	0.43×	0.53×
Interest coverage	45.31×	84.13×	18.25×	9.86×	11.64×	10.14×	3.63×	3.5×
Dividend yield	0.6%	0.4%	0.4%	0.8%	0.5%	0.2%	0.3%	0.2%
Payout ratio	11.4%	8.4%	9.8%	12.5%	9.8%	4.2%	12.4%	11.9%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	15.3%	18.9%	16.8%	15.5%	18.9%	21.7%	12.8%	13.3%
Return on invested capital	13.6%	33.3%	13.0%	11.6%	13.8%	17.4%	9.7%	9.4%
Return on assets	12.9%	15.5%	13.0%	11.2%	12.4%	14.8%	7.6%	7.4%
Free cash flow yield	7.4%	3.9%	6.0%	8.4%	-1.1%	2.4%	1.7%	0.7%
Earnings yield	5.4%	5.1%	4.5%	6.3%	5.0%	4.7%	2.2%	2.1%
Enterprise value	₹18.8B	₹21.9B	₹18.3B	₹10.6B	₹14.7B	₹14.4B	₹14.6B	₹14.8B
Net debt / EBITDA	-0.52×	-0.19×	-0.03×	0.23×	0.76×	0.55×	1.35×	1.64×
Cash conversion cycle (days)	169	232	208	229	270	242	158	236