Redtape Limited (REDTAPE.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

-737.6%

-₹684.69

vs ₹107.38 price

Levered DCF

-₹458.61

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

B-

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
P/E	26.47×	47.36×	53.63×	48.04×	78.14×
P/B	6.24×	10.22×	14.58×	14.32×	5.08×
P/S	2.63×	3.99×	5.13×	4.65×	5.63×
EV / EBITDA	14.75×	23.87×	30.23×	28.46×	39.8×
Gross margin	43.1%	36.5%	47.9%	45.8%	44.4%
Operating margin	10.7%	12.5%	14.2%	13.6%	14.9%
Net margin	9.9%	8.4%	9.6%	9.7%	9.6%
Current ratio	1.57×	1.33×	1.48×	1.77×	974,600×
Debt / equity	0.7×	0.92×	0.74×	0.55×	0.56×
Interest coverage	3.81×	4.95×	8.05×	13.83×	11.29×
Dividend yield	0.2%	0.3%	0.0%	0.0%	0.0%
Payout ratio	5.7%	16.2%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022
Return on equity	23.6%	21.6%	27.2%	29.8%	8.6%
Return on invested capital	11.0%	12.1%	17.2%	17.4%	3.7%
Return on assets	10.4%	7.7%	11.1%	11.5%	3.5%
Free cash flow yield	1.4%	-2.2%	-0.4%	-0.3%	-8.7%
Earnings yield	3.8%	2.1%	1.9%	2.1%	1.7%
Enterprise value	₹70.8B	₹87.7B	₹99.2B	₹70.6B	₹18.8B
Net debt / EBITDA	1.48×	1.93×	1.4×	0.94×	3.66×
Cash conversion cycle (days)	241	224	175	138	579