Solid Stone Co Ltd (SOLIDSTON.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

-9.4%

₹22.29

vs ₹24.61 price

Levered DCF

₹54.55

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

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	25.69×	22.22×	21.35×	27.6×	-21.03×	-20.89×	23.14×	23.87×
P/B	0.56×	0.82×	0.84×	0.78×	0.8×	0.77×	0.75×	0.77×
P/S	0.5×	0.66×	0.76×	0.53×	0.67×	0.94×	0.44×	0.39×
EV / EBITDA	7.19×	9.04×	8.68×	8.97×	17.13×	17.93×	8.49×	9.21×
Gross margin	21.8%	36.9%	37.3%	28.4%	14.6%	14.6%	13.4%	14.1%
Operating margin	11.3%	11.3%	13.8%	9.9%	5.5%	7.6%	8.1%	7.2%
Net margin	1.9%	3.0%	3.6%	1.9%	-3.2%	-4.5%	1.9%	1.6%
Current ratio	1.98×	1.97×	1.93×	2.07×	2.61×	1.97×	1.88×	1.91×
Debt / equity	0.78×	0.86×	0.83×	0.97×	1.04×	0.9×	0.78×	0.76×
Interest coverage	1.35×	1.59×	1.47×	1.28×	0.57×	0.57×	1.45×	1.75×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	2.2%	3.7%	3.9%	2.8%	-3.8%	-3.7%	3.2%	3.2%
Return on invested capital	4.2%	5.0%	6.2%	5.1%	2.5%	2.6%	4.9%	5.3%
Return on assets	1.0%	1.6%	1.6%	1.1%	-1.7%	-1.7%	1.5%	1.5%
Free cash flow yield	11.3%	15.4%	12.4%	18.2%	15.6%	6.1%	5.5%	17.7%
Earnings yield	3.9%	4.5%	4.7%	3.6%	-4.7%	-4.8%	4.3%	4.2%
Enterprise value	₹306.8M	₹374.1M	₹361.6M	₹363.9M	₹370.1M	₹350.1M	₹329.9M	₹319.9M
Net debt / EBITDA	4.17×	4.61×	4.31×	4.98×	9.64×	9.64×	4.33×	4.55×
Cash conversion cycle (days)	572	625	864	576	555	757	399	368