Raj Rayon Industries Limited (RAJRILTD.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

-4892.8%

-₹925.97

vs ₹19.32 price

Levered DCF

-₹2,285.79

After debt service

Piotroski score

5 / 9

Average

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	32.69×	0.81×	4.29×	-2.87×	0×	-0.2×	-0.06×	-0.04×
P/B	7.1×	0.09×	0.16×	0.34×	0×	-0.01×	-0×	-0×
P/S	0.94×	0.01×	0.02×	0.26×	7.47×	0×	0×	0.1×
EV / EBITDA	19.11×	7.02×	6.2×	89×	-0.13×	987.4×	324.03×	-61.88×
Gross margin	17.9%	18.5%	8.7%	-4.7%	-50889.3%	0.0%	0.0%	-217.4%
Operating margin	3.8%	2.0%	2.1%	-8.5%	-55290.5%	0.0%	0.0%	-265.9%
Net margin	2.9%	1.6%	0.5%	-9.0%	1165042.9%	0.0%	0.0%	-267.5%
Current ratio	0.86×	0.83×	0.93×	0.93×	1.95×	0.03×	0.03×	0.03×
Debt / equity	1.42×	1.94×	1.63×	1.21×	0×	-1.17×	-1.24×	-1.33×
Interest coverage	2.53×	1.26×	1.42×	-9.01×	-9,503.06×	0×	0×	-2,980.25×
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	21.7%	11.3%	3.7%	-11.9%	639.3%	5.7%	5.9%	9.0%
Return on invested capital	11.9%	4.7%	2.2%	-5.0%	-30.3%	-34.4%	-26.9%	-27.1%
Return on assets	5.7%	2.8%	1.0%	-4.0%	626.1%	-22.4%	-17.8%	-21.0%
Free cash flow yield	4.9%	-615.6%	-78.0%	-393.9%	-2616.6%	0.3%	0.7%	-105.9%
Earnings yield	3.1%	124.0%	23.3%	-34.8%	155997.1%	-501.8%	-1957.4%	-2785.7%
Enterprise value	₹13.1B	₹2.4B	₹1.9B	₹1.6B	₹3.2M	₹7.2B	₹7.1B	₹7.2B
Net debt / EBITDA	2.91×	6.69×	5.63×	69.43×	0.04×	977.84×	323.24×	-61.73×
Cash conversion cycle (days)	-25	1	5	60	-1	-3	-3	333