RSWM Limited (RSWM.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

-345.1%

-₹460.53

vs ₹187.88 price

Levered DCF

-₹709.95

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

1.68

Distress zone

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	10.94×	-16.28×	-40.73×	4.77×	3.92×	21.08×	-12.98×	-11.41×
P/B	0.42×	0.5×	0.66×	0.44×	0.93×	0.55×	0.24×	0.51×
P/S	0.12×	0.14×	0.21×	0.15×	0.25×	0.19×	0.06×	0.15×
EV / EBITDA	6.93×	9.78×	11.58×	4.98×	4.39×	6.5×	6.06×	9.07×
Gross margin	12.6%	35.8%	4.5%	9.4%	16.1%	43.2%	8.0%	39.0%
Operating margin	2.8%	1.0%	-2.1%	3.4%	7.9%	2.1%	1.8%	1.8%
Net margin	1.1%	-0.8%	-0.5%	3.2%	6.5%	0.9%	-0.5%	-1.3%
Current ratio	1.07×	1.05×	1.17×	1.44×	1.29×	1.13×	1.15×	1.02×
Debt / equity	1.24×	1.32×	1.46×	0.88×	1.07×	1.17×	1.57×	1.69×
Interest coverage	1.02×	0.34×	-0.72×	1.76×	4.17×	0.63×	0.42×	0.41×
Dividend yield	0.0%	0.0%	2.7%	10.1%	0.0%	0.0%	0.0%	1.1%
Payout ratio	0.0%	0.0%	-111.8%	47.9%	0.0%	0.0%	0.0%	-12.3%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	3.8%	-3.1%	-1.6%	9.3%	23.8%	2.6%	-1.8%	-4.5%
Return on invested capital	4.2%	1.1%	-1.9%	4.1%	11.6%	2.8%	2.5%	1.8%
Return on assets	1.4%	-1.1%	-0.6%	4.3%	9.6%	1.0%	-0.6%	-1.5%
Free cash flow yield	23.4%	45.8%	-35.7%	-41.8%	-15.2%	65.6%	113.6%	25.8%
Earnings yield	9.1%	-6.1%	-2.5%	21.0%	25.5%	4.7%	-7.7%	-8.8%
Enterprise value	₹22.5B	₹23.6B	₹27.4B	₹17.4B	₹20.6B	₹13.6B	₹13.3B	₹18.7B
Net debt / EBITDA	5.18×	7.07×	7.96×	3.3×	2.34×	4.4×	5.27×	6.95×
Cash conversion cycle (days)	78	98	124	134	97	121	120	137