The Ruby Mills Limited (RUBYMILLS.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

+1.0%

₹484.12

vs ₹479.30 price

Levered DCF

₹479.70

After debt service

Piotroski score

3 / 9

Weak

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	15.52×	15.14×	14.72×	14.34×	17.37×	10.6×	7.59×	27.09×
P/B	1×	1.01×	1.09×	0.9×	1.02×	0.55×	0.44×	1.07×
P/S	1.89×	2.64×	2.86×	1.95×	3.38×	2.22×	1.38×	2.96×
EV / EBITDA	11.17×	13.74×	12.61×	11.9×	14.66×	13.48×	10.91×	17.94×
Gross margin	49.2%	52.2%	27.4%	65.4%	51.0%	71.8%	57.0%	55.8%
Operating margin	14.2%	14.0%	18.2%	15.2%	28.7%	25.8%	21.6%	16.2%
Net margin	12.1%	17.4%	19.4%	13.6%	19.5%	21.0%	18.1%	10.9%
Current ratio	2.1×	2.9×	3.43×	1.56×	0.84×	0.85×	0.92×	1.08×
Debt / equity	0.56×	0.52×	0.36×	0.43×	0.53×	0.79×	0.83×	0.85×
Interest coverage	3.3×	7.18×	8.99×	9.55×	4.73×	4.05×	6.49×	2.84×
Dividend yield	0.9%	0.9%	0.6%	1.0%	0.2%	0.0%	3.4%	0.7%
Payout ratio	13.4%	13.8%	9.4%	14.2%	4.0%	0.0%	25.5%	19.8%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	6.5%	6.6%	7.4%	6.3%	5.9%	5.2%	5.9%	3.9%
Return on invested capital	3.6%	2.7%	4.0%	3.9%	4.7%	2.8%	2.7%	2.2%
Return on assets	3.6%	4.1%	5.1%	3.7%	3.2%	2.5%	2.7%	1.8%
Free cash flow yield	-7.2%	-9.2%	3.5%	23.3%	15.1%	5.9%	5.5%	1.1%
Earnings yield	6.4%	6.6%	6.8%	7.0%	5.8%	9.4%	13.2%	3.7%
Enterprise value	₹10.4B	₹9.6B	₹8.5B	₹6.6B	₹8.2B	₹6.5B	₹6B	₹8.6B
Net debt / EBITDA	3.9×	4.57×	2.89×	2.86×	4.97×	7.83×	7.09×	7.94×
Cash conversion cycle (days)	139	201	110	155	87	214	189	151