Prakash Pipes Limited (PPL.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

+166.9%

₹572.61

vs ₹214.54 price

Levered DCF

₹382.24

After debt service

Piotroski score

6 / 9

Average

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	9.07×	11.89×	9.83×	4.64×	7.92×	7.49×	1.92×	6.75×
P/B	0.82×	2.23×	2.41×	1.19×	1.57×	1.4×	0.36×	1.77×
P/S	0.5×	1.27×	1.32×	0.47×	0.6×	0.56×	0.12×	0.57×
EV / EBITDA	5.18×	5.91×	5.94×	2.38×	4.26×	4.18×	1.22×	4.45×
Gross margin	17.4%	24.0%	30.1%	24.9%	24.1%	25.5%	24.0%	14.0%
Operating margin	6.6%	13.7%	24.8%	10.0%	10.9%	10.7%	8.3%	9.9%
Net margin	5.5%	10.6%	13.4%	10.1%	7.6%	7.5%	6.4%	8.4%
Current ratio	2.11×	3.57×	3.51×	4.15×	3.06×	3.01×	2.25×	2.56×
Debt / equity	0.04×	0.09×	0.11×	0.03×	0.02×	0.01×	0.04×	0×
Interest coverage	17.62×	15.26×	44.32×	22.08×	27.11×	33.2×	18.99×	161.38×
Dividend yield	2.1%	0.4%	0.3%	0.9%	0.8%	1.1%	5.2%	0.0%
Payout ratio	18.8%	5.2%	3.2%	4.0%	6.1%	8.3%	9.9%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	9.0%	18.7%	24.5%	25.6%	19.9%	18.7%	18.7%	26.2%
Return on invested capital	7.6%	16.2%	33.2%	19.4%	19.3%	18.3%	16.5%	22.7%
Return on assets	7.2%	14.4%	18.2%	20.6%	15.8%	14.8%	13.8%	20.3%
Free cash flow yield	-0.1%	1.3%	11.4%	10.8%	3.6%	-1.5%	-4.6%	-0.0%
Earnings yield	11.0%	8.4%	10.2%	21.5%	12.6%	13.4%	52.1%	14.8%
Enterprise value	₹3.9B	₹7.7B	₹7.3B	₹2.5B	₹3.4B	₹2.5B	₹517.2M	₹1.9B
Net debt / EBITDA	0.01×	-1.67×	-1.22×	-0.77×	-0.33×	-0.24×	0.1×	-0.01×
Cash conversion cycle (days)	61	55	51	55	62	70	61	35