PTL Enterprises Limited (PTL.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

+54.8%

₹60.35

vs ₹38.99 price

Levered DCF

₹62.66

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

2.02

Grey zone

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	10.38×	14.11×	22.53×	17.3×	13.33×	3.66×	4.17×	6.66×
P/B	0.57×	0.6×	0.63×	0.58×	0.75×	0.43×	0.41×	0.54×
P/S	7.45×	7.96×	8.25×	6.26×	6.95×	4.06×	2.9×	4.2×
EV / EBITDA	8.03×	9×	8.97×	6.93×	7.89×	3.23×	2.98×	4.31×
Gross margin	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Operating margin	89.3%	95.6%	84.0%	86.8%	89.0%	88.3%	96.5%	91.7%
Net margin	71.8%	56.4%	36.6%	36.2%	52.2%	110.8%	69.5%	63.0%
Current ratio	0.25×	0.11×	0.19×	0.25×	0.9×	2.28×	0.26×	0.12×
Debt / equity	0.01×	0.02×	0.03×	0.04×	0.08×	0.08×	0×	0×
Interest coverage	12.62×	11.95×	9.48×	8.31×	7.7×	7.93×	28.78×	30.23×
Dividend yield	9.0%	4.5%	4.4%	6.6%	3.8%	6.4%	18.1%	5.0%
Payout ratio	93.2%	63.8%	98.3%	113.7%	50.2%	23.6%	75.3%	33.2%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	5.5%	4.3%	2.8%	3.3%	5.7%	11.8%	9.8%	8.2%
Return on invested capital	4.2%	3.7%	2.2%	2.6%	4.3%	5.5%	7.4%	5.9%
Return on assets	4.4%	3.4%	2.1%	2.4%	3.9%	8.2%	6.8%	5.8%
Free cash flow yield	11.3%	5.1%	4.0%	10.2%	7.9%	13.3%	20.7%	14.5%
Earnings yield	9.6%	7.1%	4.4%	5.8%	7.5%	27.3%	24.0%	15.0%
Enterprise value	₹4.8B	₹5.2B	₹5.5B	₹4.3B	₹4.8B	₹3B	₹1.8B	₹2.6B
Net debt / EBITDA	-0.01×	0.22×	0.34×	0.44×	0.7×	0.51×	-0×	-0.01×
Cash conversion cycle (days)	-16	-2,671	-13,261	-11,129	-23,135	-20,744	-5,798	-6,964