Radiant Cash Management Services Limited (RADIANTCMS.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

+491.4%

₹189.14

vs ₹31.98 price

Levered DCF

₹106.70

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

B+

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	10.85×	14.06×	19.08×	15.81×	27.82×	32.78×	29.06×	42.47×
P/B	1.26×	2.37×	3.37×	4.31×	7.6×	8.36×	8.88×	10.05×
P/S	0.81×	1.51×	2.21×	2.79×	3.71×	4.79×	4.28×	4.81×
EV / EBITDA	6.23×	7.26×	11.05×	8.55×	17.34×	15.95×	15.06×	19.35×
Gross margin	72.3%	100.1%	99.3%	99.8%	99.7%	99.7%	39.5%	39.2%
Operating margin	7.9%	19.4%	19.8%	28.4%	25.7%	26.9%	21.3%	22.9%
Net margin	7.5%	10.9%	11.6%	17.7%	13.4%	14.6%	14.7%	11.3%
Current ratio	1.56×	2.44×	4.58×	5.26×	3.47×	4.53×	3.15×	2.63×
Debt / equity	0.7×	0.43×	0.13×	0.13×	0.21×	0.11×	0.18×	0.17×
Interest coverage	4.76×	28.58×	55.99×	5.31×	3.29×	3.65×	3.15×	3.13×
Dividend yield	7.6%	4.1%	2.5%	2.3%	2.4%	2.4%	2.2%	0.0%
Payout ratio	82.7%	57.4%	47.7%	36.4%	65.4%	77.1%	62.8%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	11.6%	17.0%	17.7%	27.3%	27.3%	25.5%	30.5%	23.7%
Return on invested capital	6.2%	15.6%	19.6%	29.0%	32.0%	30.4%	27.3%	28.9%
Return on assets	6.3%	10.9%	14.2%	22.5%	20.0%	20.0%	23.2%	17.6%
Free cash flow yield	3.7%	6.2%	2.4%	6.9%	2.4%	2.3%	3.4%	1.1%
Earnings yield	9.2%	7.2%	5.2%	6.3%	3.6%	3.1%	3.4%	2.4%
Enterprise value	₹3.2B	₹5.6B	₹7.6B	₹9.2B	₹10.2B	₹10.2B	₹10.5B	₹10.7B
Net debt / EBITDA	-0.6×	-1.11×	-1.42×	-0.64×	-0.7×	-0.62×	-0.24×	0.07×
Cash conversion cycle (days)	65	-53	-40	-1,077	3,669	147	119	90