Route Mobile Limited (ROUTE.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

+147.8%

₹1,135.61

vs ₹458.20 price

Levered DCF

₹2,713.64

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

4.56

Safe zone

Rating

S-

Overall 5 / 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	23.95×	19.26×	26.97×	26.12×	55.44×	56.94×	55.91×	66.19×
P/B	2.07×	2.52×	4.71×	4.69×	5.51×	11.64×	12.09×	17.49×
P/S	1.3×	1.34×	2.51×	2.39×	4.6×	5.4×	3.41×	4.38×
EV / EBITDA	8.6×	10.15×	17.45×	16.93×	37.01×	38.66×	33.24×	41.23×
Gross margin	14.2%	13.2%	16.4%	22.0%	21.0%	19.7%	20.1%	21.0%
Operating margin	9.5%	14.8%	16.1%	10.4%	10.2%	10.9%	8.4%	8.8%
Net margin	5.4%	7.0%	9.3%	9.2%	8.3%	9.5%	6.1%	6.6%
Current ratio	3.85×	2.11×	2.06×	2.28×	1.85×	2.17×	1.17×	1.01×
Debt / equity	0.02×	0.19×	0.18×	0.08×	0.01×	0.03×	0.2×	0.45×
Interest coverage	38.61×	16.59×	22.2×	17.36×	30.67×	44.15×	16.87×	5.73×
Dividend yield	1.2%	1.2%	0.7%	0.8%	0.3%	0.0%	0.5%	0.2%
Payout ratio	29.9%	23.3%	18.6%	21.0%	18.3%	0.0%	28.4%	16.2%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	8.6%	13.1%	17.4%	18.0%	9.9%	20.4%	21.6%	26.4%
Return on invested capital	10.4%	17.8%	20.8%	14.9%	10.1%	18.7%	21.0%	20.3%
Return on assets	6.7%	8.3%	10.8%	11.3%	6.2%	13.0%	9.3%	11.1%
Free cash flow yield	10.2%	9.5%	-1.3%	0.4%	1.3%	2.8%	2.8%	0.5%
Earnings yield	4.2%	5.2%	3.7%	3.8%	1.8%	1.8%	1.8%	1.5%
Enterprise value	₹43.8B	₹52.8B	₹99.5B	₹82B	₹88.2B	₹73.4B	₹32.3B	₹37B
Net debt / EBITDA	-2.64×	-1.66×	-0.29×	-0.71×	-1.64×	-1.32×	-0.26×	-0×
Cash conversion cycle (days)	29	12	25	12	38	-18	-15	-50