Shine Fashions (India) Limited (SHINEFASH.BO) 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

-2304.2%

-₹415.50

vs ₹18.85 price

Levered DCF

-₹395.65

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

1.92

Grey zone

Rating

B-

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	16.24×	15.06×	14.33×	12.35×	31.94×	31.5×	16.47×
P/B	1.5×	4.78×	5.51×	1.76×	2.38×	1.41×	1.66×
P/S	0.47×	1.37×	1.04×	0.52×	1.01×	1.03×	0.7×
EV / EBITDA	12.92×	11.1×	10.71×	9.29×	21.53×	31.67×	12.48×
Gross margin	15.5%	15.0%	13.2%	10.2%	7.3%	7.4%	6.6%
Operating margin	11.6%	11.6%	9.7%	6.0%	3.9%	3.4%	5.3%
Net margin	2.9%	8.6%	7.2%	4.2%	3.1%	3.3%	4.4%
Current ratio	1.38×	1.67×	1.68×	2.07×	3.97×	5.42×	4.59×
Debt / equity	0.64×	0.25×	0.1×	0.32×	0.13×	0.14×	0×
Interest coverage	14.2×	241.76×	163.18×	17.24×	7.33×	12.64×	160.19×
Dividend yield	0.1%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	1.3%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	9.3%	29.9%	38.4%	14.1%	7.4%	4.6%	10.4%
Return on invested capital	16.5%	24.0%	34.6%	11.1%	6.0%	3.6%	9.2%
Return on assets	2.6%	11.9%	15.3%	7.1%	5.4%	3.7%	8.1%
Free cash flow yield	-53.1%	1.7%	1.8%	-11.5%	0.3%	-32.1%	0.0%
Earnings yield	6.2%	6.3%	7.0%	8.0%	3.1%	3.3%	6.2%
Enterprise value	₹603.4M	₹1B	₹570.3M	₹129.6M	₹135M	₹77.2M	₹54.9M
Net debt / EBITDA	2.73×	-0.76×	0.17×	1.37×	1×	2.73×	-0.1×
Cash conversion cycle (days)	69	44	72	132	154	307	144