Thacker And Company Limited (THACKER.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

-31.7%

₹645.50

vs ₹945.00 price

Levered DCF

-₹358.43

After debt service

Piotroski score

3 / 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	4.54×	6.75×	4.21×	2.83×	3.72×	3.4×	1.33×	5.84×
P/B	0.5×	0.86×	0.56×	0.31×	0.35×	0.26×	0.12×	0.21×
P/S	18.72×	34.99×	24.78×	9.38×	5.25×	4.31×	1.78×	5.56×
EV / EBITDA	21.76×	25.06×	16.31×	6.72×	6.14×	4.85×	1.89×	6.71×
Gross margin	99.1%	96.5%	96.3%	82.6%	65.3%	61.2%	63.1%	55.0%
Operating margin	71.6%	50.8%	34.8%	41.0%	25.6%	2.4%	2.1%	-60.0%
Net margin	412.4%	518.6%	588.4%	331.8%	141.3%	126.8%	133.8%	95.2%
Current ratio	14.92×	10.6×	7.4×	7.4×	4.14×	2.14×	1.04×	0.75×
Debt / equity	0×	0×	0×	0×	0×	0×	0.01×	0.04×
Interest coverage	261.43×	186.25×	81.05×	108.23×	385.75×	6.11×	0.72×	-6.13×
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	10.9%	12.7%	13.2%	11.0%	9.3%	7.6%	9.2%	3.6%
Return on invested capital	1.8%	1.0%	0.7%	1.3%	1.4%	0.1%	0.1%	-2.2%
Return on assets	10.8%	12.6%	13.0%	10.9%	9.1%	7.4%	8.8%	3.4%
Free cash flow yield	-0.4%	-2.4%	-5.5%	-12.8%	-4.4%	0.0%	2.5%	5.7%
Earnings yield	22.0%	14.8%	23.7%	35.4%	26.9%	29.4%	75.0%	17.1%
Enterprise value	₹868.6M	₹1.4B	₹763.5M	₹349M	₹325.3M	₹204.6M	₹84.5M	₹168.5M
Net debt / EBITDA	0.02×	0.02×	0.04×	-0.09×	-0.43×	-0.59×	-0.3×	0.21×
Cash conversion cycle (days)	1,063	1,230	1,341	21	-13	-23	-39	-25