Polo Queen Industrial and Fintech Limited (PQIF.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

-57.6%

₹3.04

vs ₹7.16 price

Levered DCF

₹3.81

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

6.88

Safe zone

Rating

B-

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	183.25×	711.54×	454.56×	581.62×	1,624.41×	105×	-278.22×	1,027.27×
P/B	2.44×	9.84×	6.93×	7.37×	12.62×	0.19×	0.52×	3.34×
P/S	6.21×	23.34×	19.09×	17.61×	41.09×	1.1×	5.44×	11.74×
EV / EBITDA	90.84×	337.02×	229.81×	241.16×	558.18×	27.38×	692.15×	326.92×
Gross margin	17.7%	16.1%	15.4%	16.3%	15.2%	15.7%	22.9%	12.7%
Operating margin	5.3%	5.2%	4.8%	6.9%	6.8%	5.0%	0.4%	3.5%
Net margin	3.4%	3.3%	4.2%	3.0%	2.5%	1.0%	-1.9%	1.1%
Current ratio	0.95×	0.92×	0.84×	0.85×	0.89×	0.78×	0.81×	0.81×
Debt / equity	0.05×	0.06×	0.08×	0.08×	0.09×	0.08×	0.08×	0.09×
Interest coverage	2.8×	2.61×	1.91×	2.76×	1.99×	1.1×	0.07×	1.28×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	1.3%	1.4%	1.5%	1.3%	0.8%	0.2%	-0.2%	0.3%
Return on invested capital	1.4%	1.5%	1.2%	1.8%	1.4%	0.7%	0.0%	0.7%
Return on assets	1.2%	1.2%	1.4%	1.1%	0.7%	0.2%	-0.2%	0.3%
Free cash flow yield	0.8%	0.2%	0.1%	0.4%	0.1%	6.5%	-0.7%	-0.1%
Earnings yield	0.5%	0.1%	0.2%	0.2%	0.1%	0.9%	-0.4%	0.1%
Enterprise value	₹4.8B	₹18.9B	₹13.2B	₹13.8B	₹23.4B	₹505.3M	₹1.1B	₹6.2B
Net debt / EBITDA	1.87×	1.87×	2.44×	2.42×	3.81×	8.28×	93.92×	8.22×
Cash conversion cycle (days)	-0	7	18	8	14	15	-4	21