Rajoo Engineers Limited (RAJOOENG.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

-86.7%

₹7.37

vs ₹55.60 price

Levered DCF

₹72.88

After debt service

Piotroski score

—

Altman Z-score

—

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021
P/E	19.04×	57.25×	103.77×	189.74×	144.37×
P/B	2.63×	13.35×	17.2×	20.01×	22.05×
P/S	2.64×	8.71×	11.25×	13.84×	11.88×
EV / EBITDA	12.46×	42.32×	72.3×	131.16×	89.3×
Gross margin	44.3%	37.0%	31.7%	29.4%	28.2%
Operating margin	15.9%	16.8%	11.9%	6.8%	10.0%
Net margin	13.9%	15.2%	10.8%	7.3%	8.2%
Current ratio	1.3×	1.61×	2.63×	1.97×	2.06×
Debt / equity	0.07×	0×	0.01×	0.02×	0×
Interest coverage	25.3×	143.81×	138.03×	192.83×	155.58×
Dividend yield	0.3%	0.1%	0.1%	0.1%	0.0%
Payout ratio	5.6%	4.0%	10.3%	13.4%	6.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021
Return on equity	13.8%	23.4%	16.6%	10.5%	15.3%
Return on invested capital	10.6%	18.8%	10.4%	7.2%	13.0%
Return on assets	7.1%	11.8%	9.2%	6.4%	9.4%
Free cash flow yield	0.8%	2.7%	-0.5%	0.9%	1.0%
Earnings yield	5.3%	1.7%	1.0%	0.5%	0.7%
Enterprise value	₹9.2B	₹21.7B	₹21.8B	₹21.7B	₹21.7B
Net debt / EBITDA	0.1×	-0.12×	-0.02×	-0.84×	-0.45×
Cash conversion cycle (days)	312	255	234	161	117