Rallis India Limited (RALLIS.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

+56.1%

₹294.33

vs ₹188.50 price

Levered DCF

₹115.48

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

3.28

Safe zone

Rating

A-

Overall 4 / 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	23.07×	34.44×	33.72×	40.78×	28.17×	21.51×	18.48×	20.43×
P/B	2.08×	2.26×	2.72×	2.17×	2.73×	3.09×	2.42×	2.47×
P/S	1.47×	1.62×	1.89×	1.26×	1.79×	2.03×	1.53×	1.61×
EV / EBITDA	11.71×	13.6×	15.51×	16.48×	15.53×	14.89×	11.22×	11.68×
Gross margin	26.6%	21.5%	39.7%	33.7%	37.1%	38.7%	37.6%	40.4%
Operating margin	27.1%	6.2%	8.0%	5.9%	25.5%	11.2%	9.7%	10.5%
Net margin	6.4%	4.7%	5.6%	3.1%	6.3%	9.4%	8.3%	7.9%
Current ratio	1.89×	1.93×	1.75×	1.66×	1.67×	1.81×	1.7×	1.74×
Debt / equity	0.03×	0.03×	0.07×	0.08×	0.05×	0.05×	0.07×	0.06×
Interest coverage	68.66×	13.83×	11.06×	12.74×	98.83×	39.94×	22.32×	25.76×
Dividend yield	1.2%	1.1%	1.0%	1.6%	1.3%	1.0%	1.7%	1.8%
Payout ratio	26.6%	39.2%	32.8%	63.5%	35.6%	21.3%	31.8%	37.7%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	9.0%	6.6%	8.1%	5.3%	9.7%	14.4%	13.1%	12.1%
Return on invested capital	26.9%	5.5%	7.9%	6.6%	26.3%	11.8%	10.8%	10.2%
Return on assets	5.5%	4.2%	4.9%	3.3%	5.7%	8.8%	7.5%	7.1%
Free cash flow yield	3.0%	5.1%	3.8%	0.8%	-0.4%	1.0%	7.6%	1.1%
Earnings yield	4.3%	2.9%	3.0%	2.5%	3.5%	4.6%	5.4%	4.9%
Enterprise value	₹42.7B	₹43.4B	₹50.9B	₹38.4B	₹47.1B	₹49.8B	₹34.6B	₹32B
Net debt / EBITDA	0.06×	0.11×	0.33×	0.4×	0.27×	0.2×	0.15×	0.11×
Cash conversion cycle (days)	117	121	132	101	114	121	103	146