Pokarna Limited (POKARNA.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

-109.1%

-₹60.31

vs ₹665.00 price

Levered DCF

-₹241.14

After debt service

Piotroski score

3 / 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	33.45×	20.15×	15.71×	11.52×	29.53×	28.88×	2.19×	6.97×
P/B	3.15×	4.86×	2.32×	1.5×	5.22×	2.23×	0.46×	2.08×
P/S	4.72×	4.06×	2×	1.04×	3.56×	2.77×	0.39×	1.22×
EV / EBITDA	16.56×	11.73×	7.71×	6.95×	15.95×	12.71×	3.22×	5.17×
Gross margin	71.6%	51.7%	63.3%	58.1%	55.0%	60.0%	61.7%	59.1%
Operating margin	20.8%	30.3%	51.2%	18.4%	21.5%	23.8%	27.8%	26.1%
Net margin	14.1%	20.2%	12.7%	9.0%	12.0%	9.6%	18.0%	17.5%
Current ratio	1.32×	1.93×	1.97×	1.64×	1.27×	1.01×	1.13×	1.28×
Debt / equity	0.53×	0.47×	0.68×	0.9×	1.16×	0.85×	0.87×	0.88×
Interest coverage	3.99×	7.59×	9.03×	2.77×	3.88×	3.26×	4.83×	4.62×
Dividend yield	0.1%	0.0%	0.1%	0.2%	0.1%	0.2%	1.4%	0.4%
Payout ratio	2.3%	1.0%	2.1%	2.8%	2.4%	6.6%	3.2%	2.8%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	9.4%	24.1%	14.7%	13.0%	17.7%	7.7%	20.9%	29.8%
Return on invested capital	6.0%	16.0%	21.1%	9.8%	10.9%	5.0%	10.3%	19.1%
Return on assets	5.0%	13.4%	7.2%	6.0%	6.7%	2.8%	7.7%	13.4%
Free cash flow yield	-5.3%	1.6%	10.6%	13.6%	-6.4%	1.3%	-8.5%	7.2%
Earnings yield	3.0%	5.0%	6.4%	8.7%	3.4%	3.5%	45.6%	14.3%
Enterprise value	₹31.4B	₹40.7B	₹17.1B	₹12B	₹28B	₹11.2B	₹4.4B	₹7.9B
Net debt / EBITDA	2.34×	0.84×	1.5×	2.55×	2.8×	3.41×	2.08×	1.5×
Cash conversion cycle (days)	305	129	172	212	191	258	173	174