Salona Cotspin Limited (SALONA.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

-278.0%

-₹451.12

vs ₹253.50 price

Levered DCF

-₹930.10

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

C-

Overall 1 / 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	90.34×	40.29×	27.29×	7.09×	5.88×	7.94×	16.48×	22.23×
P/B	1.68×	1.53×	2.1×	1.68×	2.03×	1.29×	0.6×	1.16×
P/S	0.24×	0.19×	0.25×	0.26×	0.18×	0.21×	0.16×	0.28×
EV / EBITDA	9.42×	11.29×	13.87×	8×	6.81×	8.42×	6.91×	8.9×
Gross margin	12.3%	11.0%	7.6%	16.9%	17.0%	21.1%	19.5%	21.0%
Operating margin	4.1%	3.7%	3.5%	6.0%	5.3%	5.3%	4.9%	4.7%
Net margin	0.3%	0.5%	0.9%	3.6%	3.1%	2.7%	1.0%	1.2%
Current ratio	1.12×	1.15×	1.24×	1.37×	1.32×	1.28×	1.33×	1.27×
Debt / equity	2.26×	2.89×	3.22×	2.12×	2.42×	2.02×	1.25×	1.62×
Interest coverage	1.21×	1.29×	1.54×	3.12×	4.62×	2.72×	1.45×	1.56×
Dividend yield	0.4%	0.4%	0.4%	0.5%	0.5%	0.0%	2.0%	1.0%
Payout ratio	33.7%	16.8%	10.3%	3.6%	2.7%	0.0%	32.4%	23.3%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	1.9%	3.8%	7.7%	23.7%	34.6%	16.3%	3.7%	5.2%
Return on invested capital	2.8%	4.1%	5.0%	10.8%	12.6%	8.3%	4.9%	5.3%
Return on assets	0.5%	0.9%	1.7%	6.5%	8.7%	4.5%	1.4%	1.8%
Free cash flow yield	34.4%	14.9%	-50.3%	-6.9%	-47.0%	-61.4%	72.5%	-13.5%
Earnings yield	1.1%	2.5%	3.7%	14.1%	17.0%	12.6%	6.1%	4.5%
Enterprise value	₹3.3B	₹3.6B	₹4.2B	₹2.8B	₹2.5B	₹1.3B	₹594.2M	₹870.4M
Net debt / EBITDA	5.37×	7.36×	8.39×	4.45×	3.7×	5.12×	4.66×	5.19×
Cash conversion cycle (days)	84	97	124	132	85	135	159	171