Texmo Pipes and Products Limited (TEXMOPIPES.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

-4.0%

₹46.09

vs ₹48.01 price

Levered DCF

-₹32.57

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

—

Rating

B-

Overall 2 / 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	6.95×	7.93×	50.66×	-1.81×	15.63×	6.38×	5.5×	16.81×
P/B	0.42×	0.78×	1.19×	0.69×	0.91×	0.31×	0.1×	0.25×
P/S	0.26×	0.43×	0.44×	0.2×	0.39×	0.16×	0.07×	0.16×
EV / EBITDA	3.94×	5.61×	9.98×	-3.69×	7.74×	3.8×	4.06×	6.96×
Gross margin	21.5%	19.8%	25.6%	18.3%	23.7%	14.0%	23.6%	10.7%
Operating margin	5.6%	5.5%	20.4%	2.6%	4.8%	5.4%	5.2%	3.9%
Net margin	3.7%	4.9%	0.9%	-11.2%	2.5%	2.5%	1.2%	1.0%
Current ratio	2.11×	2.19×	2×	2.12×	2.02×	1.79×	1.46×	1.42×
Debt / equity	0.24×	0.29×	0.29×	0.16×	0.16×	0.12×	0.23×	0.25×
Interest coverage	3.4×	3.53×	13.08×	1.29×	3.09×	2.4×	1.62×	1.24×
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	6.1%	8.9%	2.4%	-38.4%	5.9%	4.8%	1.9%	1.5%
Return on invested capital	5.0%	7.2%	17.9%	7.0%	6.7%	6.4%	4.1%	3.7%
Return on assets	3.8%	5.3%	1.3%	-23.4%	3.9%	3.2%	1.1%	0.9%
Free cash flow yield	-13.0%	3.1%	-7.4%	-5.5%	6.4%	35.6%	59.3%	23.6%
Earnings yield	14.4%	11.3%	2.0%	-55.3%	6.4%	15.7%	18.2%	5.9%
Enterprise value	₹1.4B	₹2.1B	₹2.9B	₹1.6B	₹2.6B	₹967.5M	₹713.5M	₹1B
Net debt / EBITDA	1.27×	1.05×	1.9×	-0.68×	1.12×	1.09×	2.82×	3.52×
Cash conversion cycle (days)	122	98	64	47	44	50	88	78