Rane Holdings Limited (RANEHOLDIN.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

-379.1%

-₹4,187.10

vs ₹1,500.10 price

Levered DCF

₹401.38

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

C+

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	14.47×	8.97×	13.12×	19.86×	34.85×	-16.66×	-168.8×	16.6×
P/B	1.23×	1.68×	1.79×	1.53×	1.08×	1.1×	0.56×	1.99×
P/S	0.24×	0.43×	0.46×	0.35×	0.31×	0.42×	0.22×	0.69×
EV / EBITDA	5.16×	5.25×	8.61×	6.22×	6.62×	11.45×	8.74×	6.16×
Gross margin	18.5%	21.0%	37.7%	42.2%	34.4%	36.5%	38.9%	37.6%
Operating margin	3.9%	3.9%	6.2%	4.9%	1.3%	-0.7%	0.8%	4.8%
Net margin	1.7%	4.8%	3.5%	1.8%	0.9%	-2.5%	-0.1%	4.1%
Current ratio	0.88×	0.92×	1.09×	1.09×	1.03×	1×	0.96×	1.01×
Debt / equity	0.88×	0.96×	0.94×	1.07×	1.03×	0.88×	0.78×	0.67×
Interest coverage	3.02×	1.99×	3.08×	3.44×	0.99×	-0.36×	0.35×	2.41×
Dividend yield	3.8%	1.9%	1.5%	1.4%	0.0%	0.7%	8.1%	2.6%
Payout ratio	55.6%	17.2%	19.6%	27.5%	0.0%	-11.3%	-1363.6%	43.2%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	8.5%	18.7%	13.7%	7.7%	3.1%	-6.6%	-0.3%	12.0%
Return on invested capital	7.0%	4.6%	10.6%	5.5%	0.9%	-0.8%	1.0%	4.1%
Return on assets	2.5%	5.8%	4.7%	2.4%	1.0%	-2.2%	-0.1%	4.7%
Free cash flow yield	-4.5%	13.3%	1.5%	2.3%	-14.0%	3.5%	7.0%	-0.6%
Earnings yield	6.9%	11.2%	7.6%	5.0%	2.9%	-6.0%	-0.6%	6.0%
Enterprise value	₹23.8B	₹28.8B	₹24.4B	₹20.6B	₹16.2B	₹14.5B	₹10.4B	₹22.6B
Net debt / EBITDA	2.09×	1.86×	2.88×	2.48×	3.17×	4.81×	4.88×	1.48×
Cash conversion cycle (days)	52	55	62	60	57	37	55	53