Rupa & Company Limited (RUPA.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

+25.0%

₹151.44

vs ₹121.17 price

Levered DCF

₹147.41

After debt service

Piotroski score

5 / 9

Average

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	FY2021	FY2020	FY2019
P/E	12.14×	17.91×	28.2×	30.21×	18.17×	13.94×	14.87×	37.62×
P/B	0.83×	1.47×	2.05×	1.78×	3.95×	3.35×	1.59×	5.12×
P/S	0.7×	1.2×	1.62×	1.43×	2.37×	1.87×	0.95×	2.44×
EV / EBITDA	8.55×	11.53×	16.78×	17.78×	13.84×	9.82×	9.14×	19.66×
Gross margin	22.5%	53.0%	48.8%	46.6%	56.8%	52.8%	24.3%	25.7%
Operating margin	8.0%	9.4%	8.6%	6.8%	17.4%	18.6%	9.8%	11.9%
Net margin	5.8%	6.7%	5.8%	4.7%	13.1%	13.4%	6.4%	6.5%
Current ratio	2.59×	2.62×	2.62×	2.53×	2.02×	2.33×	1.97×	1.79×
Debt / equity	0.24×	0.23×	0.25×	0.29×	0.42×	0.22×	0.33×	0.39×
Interest coverage	5.06×	5.48×	5.04×	3.41×	14.5×	21.32×	5.13×	7.34×
Dividend yield	2.7%	1.6%	1.2%	1.5%	1.1%	1.0%	3.1%	1.0%
Payout ratio	32.9%	28.6%	34.2%	44.4%	20.7%	13.6%	46.5%	38.8%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	6.8%	8.2%	7.3%	5.9%	21.8%	24.0%	10.7%	13.6%
Return on invested capital	5.5%	6.8%	6.3%	5.0%	15.7%	19.9%	9.0%	11.2%
Return on assets	4.5%	5.5%	4.8%	3.9%	12.2%	15.0%	6.2%	7.3%
Free cash flow yield	4.3%	3.4%	7.4%	9.5%	-4.4%	7.7%	7.9%	-1.9%
Earnings yield	8.2%	5.6%	3.5%	3.3%	5.5%	7.2%	6.7%	2.7%
Enterprise value	₹11.3B	₹17.1B	₹21.9B	₹18.8B	₹38.5B	₹26B	₹11.1B	₹29.9B
Net debt / EBITDA	1.91×	1.46×	1.72×	2.41×	1.31×	0.6×	1.55×	1.33×
Cash conversion cycle (days)	271	340	312	353	259	236	266	227