Rama Phosphates Limited (RAMAPHO.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

-306.8%

-₹217.76

vs ₹105.30 price

Levered DCF

-₹439.93

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

B-

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	7×	22.89×	-9.8×	7.55×	6.92×	11.5×	27.38×	24.98×
P/B	0.87×	0.84×	0.86×	1×	1.8×	2.37×	2.91×	3.2×
P/S	0.41×	0.61×	0.7×	0.54×	0.99×	1.05×	1.42×	0.98×
EV / EBITDA	5.71×	10.1×	-21.86×	5.9×	4.77×	7.85×	18.2×	13.08×
Gross margin	27.0%	43.3%	-16.6%	-17.1%	-23.0%	38.9%	8.7%	9.2%
Operating margin	8.9%	-37.3%	-7.0%	11.5%	23.0%	12.1%	6.8%	8.2%
Net margin	5.9%	2.7%	-7.2%	7.2%	14.3%	9.1%	5.2%	3.9%
Current ratio	1.84×	1.76×	1.65×	1.97×	2.02×	2.24×	1.8×	1.79×
Debt / equity	0.33×	0.34×	0.42×	0.38×	0.22×	0.03×	0.14×	0.18×
Interest coverage	7.46×	-14.55×	-2.33×	6.38×	6.73×	26.48×	8.32×	5.15×
Dividend yield	0.4%	0.0%	0.6%	0.5%	0.8%	0.7%	0.5%	0.4%
Payout ratio	2.5%	0.0%	-5.7%	3.5%	5.6%	8.4%	14.1%	9.1%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	12.5%	3.7%	-8.8%	13.2%	26.0%	20.6%	10.6%	12.8%
Return on invested capital	10.3%	-20.2%	-4.5%	11.3%	25.3%	19.6%	9.7%	14.2%
Return on assets	7.3%	2.2%	-5.0%	7.7%	15.8%	13.5%	5.9%	6.6%
Free cash flow yield	-3.7%	10.4%	-4.3%	-15.0%	-8.9%	5.3%	1.0%	1.8%
Earnings yield	14.3%	4.4%	-10.2%	13.2%	14.5%	8.7%	3.7%	4.0%
Enterprise value	₹5.1B	₹4.4B	₹4.5B	₹4.3B	₹5.4B	₹4.9B	₹5.1B	₹5.1B
Net debt / EBITDA	1.56×	2.89×	-7.16×	1.62×	0.52×	0.08×	0.84×	0.68×
Cash conversion cycle (days)	145	118	149	93	86	70	77	55