Terai Tea Company Limited (TERAI.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%

₹107.47

vs ₹118.60 price

Levered DCF

₹162.48

After debt service

Piotroski score

4 / 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	12.18×	30.72×	19.78×	37.02×	4.23×	3.09×	11.31×	8.07×
P/B	0.38×	0.71×	0.4×	0.33×	0.32×	0.18×	0.25×	0.21×
P/S	0.71×	1.11×	0.57×	0.52×	0.63×	0.34×	0.26×	0.19×
EV / EBITDA	-22.93×	14.36×	13.35×	15.68×	6.11×	4.51×	11.6×	9.01×
Gross margin	11.0%	17.1%	14.2%	19.3%	17.3%	21.0%	17.4%	21.3%
Operating margin	-6.3%	-2.8%	-1.9%	-1.0%	-5.9%	-11.7%	12.3%	2.9%
Net margin	5.8%	3.6%	4.6%	1.9%	12.8%	11.0%	2.3%	2.3%
Current ratio	2.77×	3.9×	3.06×	2.12×	1.87×	1.89×	1.8×	2.06×
Debt / equity	0.23×	0.42×	0.21×	0.25×	0.22×	0.18×	0.36×	0.27×
Interest coverage	-1.72×	-0.83×	-0.79×	-0.36×	-2.76×	-2.38×	3.75×	1.08×
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	3.1%	2.3%	3.3%	1.2%	6.5%	5.9%	2.2%	2.6%
Return on invested capital	-2.7%	-1.1%	-1.1%	-0.5%	-2.4%	-4.6%	8.5%	2.6%
Return on assets	2.4%	1.6%	2.6%	0.9%	4.9%	4.7%	1.5%	1.8%
Free cash flow yield	-13.6%	15.6%	1.0%	-18.3%	51.0%	100.1%	-11.1%	3.4%
Earnings yield	8.2%	3.2%	8.1%	3.7%	20.4%	32.3%	8.8%	12.4%
Enterprise value	₹1B	₹1.3B	₹923.1M	₹834.1M	₹768.3M	₹484.5M	₹757.9M	₹589.9M
Net debt / EBITDA	-8.59×	1.82×	4.51×	6.59×	2.45×	2.25×	6.84×	5.01×
Cash conversion cycle (days)	14	-0	7	35	51	141	135	79