Raj Packaging Industries Limited (RAJPACK.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

+44.8%

₹42.13

vs ₹29.10 price

Levered DCF

₹17.96

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

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	35.4×	-17.79×	-7.94×	-45.87×	7.67×	4.11×	20×	-82.21×
P/B	0.96×	1.01×	0.85×	1.55×	1.03×	0.58×	0.56×	1.14×
P/S	0.38×	0.42×	0.37×	0.49×	0.31×	0.19×	0.19×	0.37×
EV / EBITDA	11.3×	197.99×	-27.67×	31.75×	5.44×	3.76×	6.3×	14.79×
Gross margin	16.8%	21.6%	10.5%	12.3%	7.8%	22.0%	19.4%	16.0%
Operating margin	2.5%	-1.8%	-5.5%	-0.7%	16.8%	8.1%	4.1%	2.2%
Net margin	1.1%	-2.3%	-4.7%	-1.1%	4.0%	4.7%	0.9%	-0.5%
Current ratio	2.85×	3.16×	4.21×	3.24×	2.12×	2.37×	1.89×	1.58×
Debt / equity	0.29×	0.39×	0.22×	0.26×	0.52×	0.62×	0.79×	1.15×
Interest coverage	2.14×	-1.18×	-4×	-0.61×	11.86×	4.59×	1.26×	0.71×
Dividend yield	0.0%	0.0%	0.0%	1.0%	1.5%	0.0%	0.0%	2.2%
Payout ratio	0.0%	0.0%	0.0%	-45.8%	11.2%	0.0%	0.0%	-177.3%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	2.7%	-5.7%	-10.7%	-3.4%	13.4%	14.0%	2.8%	-1.4%
Return on invested capital	3.6%	-2.4%	-7.5%	-1.3%	27.2%	10.3%	4.2%	2.2%
Return on assets	1.8%	-3.7%	-7.8%	-2.3%	7.1%	7.3%	1.3%	-0.6%
Free cash flow yield	9.7%	-12.9%	11.3%	19.8%	6.0%	18.9%	40.1%	-28.3%
Earnings yield	2.8%	-5.6%	-12.6%	-2.2%	13.1%	24.3%	5.0%	-1.2%
Enterprise value	₹160.5M	₹177M	₹141.3M	₹266.4M	₹236.8M	₹160.2M	₹154.4M	₹236M
Net debt / EBITDA	2.58×	55.67×	-5.63×	4.51×	1.83×	1.95×	3.69×	6.78×
Cash conversion cycle (days)	130	145	121	98	113	125	117	107