Pulsar International Limited (PULSRIN.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

-195409.1%

-₹664.05

vs ₹0.34 price

Levered DCF

-₹683.53

After debt service

Piotroski score

1 / 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	588×	42.42×	22.17×	107.5×	-9×	-6.82×	-3.31×	-4.35×
P/B	1.29×	6.15×	5.03×	2.77×	0.17×	0.12×	0.08×	0.08×
P/S	0.48×	2.38×	2.8×	38.49×	7.2×	8.57×	1.96×	1.24×
EV / EBITDA	111.73×	42.08×	22.17×	97.13×	-8.89×	-4.97×	1.08×	11.85×
Gross margin	0.9%	6.3%	13.5%	100.0%	100.0%	100.0%	100.0%	-17.8%
Operating margin	-0.1%	6.3%	12.6%	91.8%	27.9%	38.5%	51.3%	-97.3%
Net margin	0.1%	5.7%	12.6%	35.8%	-80.0%	-125.7%	-59.3%	-28.6%
Current ratio	1.69×	1.78×	7.92×	0×	0×	880.82×	906.1×	352.4×
Debt / equity	0×	0.01×	0×	0×	0×	0×	0×	0×
Interest coverage	0×	0×	0×	282.17×	0×	190.26×	0×	-609.91×
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	0.2%	14.6%	22.7%	2.6%	-1.8%	-1.7%	-2.6%	-1.7%
Return on invested capital	-0.3%	16.0%	22.6%	6.6%	0.6%	0.5%	2.2%	-5.8%
Return on assets	0.1%	6.4%	19.8%	2.6%	-1.8%	-1.7%	-2.6%	-1.7%
Free cash flow yield	-57.7%	-0.0%	-8.4%	-1.2%	-32.3%	-78.8%	-813.1%	202.6%
Earnings yield	0.2%	2.4%	4.5%	0.9%	-11.1%	-14.7%	-30.3%	-23.0%
Enterprise value	₹615.4M	₹743.1M	₹553.4M	₹128.7M	₹6M	₹3.1M	-₹1M	-₹26M
Net debt / EBITDA	-0.11×	0.04×	-0.02×	-9.96×	0.24×	2.04×	4.52×	13.19×
Cash conversion cycle (days)	113	138	198	837	3,446	5,675	1,772	1,294