PVR INOX Limited (PVRINOX.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

+1220.5%

₹20,008.71

vs ₹1,515.20 price

Levered DCF

₹19,051.98

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

1.78

Distress zone

Rating

C+

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	27.01×	-33.8×	-424.94×	-29.73×	-22.43×	-13.27×	327.25×	45.26×
P/B	1.22×	1.34×	1.85×	1.36×	7.99×	5.41×	6.14×	7.06×
P/S	1.36×	1.64×	2.22×	2.66×	8.24×	35.44×	2.66×	2.84×
EV / EBITDA	6.82×	10.68×	11.79×	16.67×	124.54×	-44.77×	12.71×	16.58×
Gross margin	36.5%	62.8%	62.8%	66.8%	65.2%	61.4%	68.0%	65.7%
Operating margin	12.4%	48.5%	49.6%	52.9%	43.0%	-22.1%	52.6%	36.6%
Net margin	2.1%	-4.8%	-0.5%	-8.9%	-36.7%	-267.1%	0.8%	6.2%
Current ratio	0.47×	0.43×	0.42×	0.41×	0.6×	0.89×	0.58×	0.37×
Debt / equity	0.92×	1.1×	1.13×	1.1×	3.79×	2.73×	3.42×	1.03×
Interest coverage	1.13×	3.46×	3.83×	3.47×	1.15×	-0.12×	3.73×	8.83×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.4%	0.1%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	131.9%	5.9%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	1.9%	-4.0%	-0.4%	-4.6%	-35.6%	-40.8%	1.8%	15.3%
Return on invested capital	4.5%	14.0%	14.4%	12.9%	6.2%	-0.7%	8.0%	23.0%
Return on assets	0.9%	-1.7%	-0.2%	-2.0%	-6.7%	-10.0%	0.4%	4.9%
Free cash flow yield	19.6%	17.3%	9.9%	2.3%	0.4%	-5.3%	4.4%	4.5%
Earnings yield	1.5%	-3.0%	-0.2%	-3.4%	-4.5%	-7.5%	0.3%	2.2%
Enterprise value	₹152.1B	₹167B	₹215B	₹176.8B	₹156.5B	₹143.7B	₹138.4B	₹100B
Net debt / EBITDA	2.78×	4.64×	4.34×	7.28×	37.37×	-13.85×	4.36×	2.08×
Cash conversion cycle (days)	-25	-99	-77	-101	-174	-409	-59	-92