Tokyo Plast International Limited (TOKYOPLAST.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

-764.1%

-₹508.00

vs ₹76.50 price

Levered DCF

-₹256.58

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	88.73×	91.36×	96.27×	-683.85×	-564.38×	538.85×	79×	-12.61×
P/B	0.89×	1.95×	1.61×	1.43×	1.46×	1.16×	0.99×	0.93×
P/S	0.71×	1.66×	1.45×	1.12×	1.07×	1.06×	0.93×	0.98×
EV / EBITDA	14.17×	21.48×	22.57×	20.6×	32.78×	23.89×	16.98×	626.17×
Gross margin	27.0%	49.5%	19.1%	44.2%	46.7%	49.1%	50.3%	44.9%
Operating margin	4.9%	2.5%	3.1%	2.5%	0.4%	2.0%	2.0%	-5.4%
Net margin	0.8%	1.8%	1.5%	-0.2%	-0.2%	0.2%	1.2%	-7.8%
Current ratio	1.08×	1.26×	1.69×	2.29×	2.52×	2.45×	2.85×	2.09×
Debt / equity	0.77×	0.44×	0.32×	0.25×	0.32×	0.28×	0.22×	0.34×
Interest coverage	1.37×	0.85×	1.65×	1.36×	0.24×	1.59×	1.15×	-2.15×
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	1.0%	2.1%	1.7%	-0.2%	-0.3%	0.2%	1.3%	-7.4%
Return on invested capital	2.0%	1.5%	1.9%	-1.6%	0.2%	1.6%	-135.7%	-3.7%
Return on assets	0.5%	1.3%	1.1%	-0.1%	-0.2%	0.1%	0.9%	-4.7%
Free cash flow yield	-29.6%	-5.8%	-2.6%	6.8%	0.4%	-4.9%	12.0%	-2.0%
Earnings yield	1.1%	1.1%	1.0%	-0.1%	-0.2%	0.2%	1.3%	-7.9%
Enterprise value	₹988.8M	₹1.5B	₹1.1B	₹982.3M	₹1B	₹813.9M	₹653.7M	₹664.2M
Net debt / EBITDA	6.15×	3.81×	3.52×	2.89×	5.7×	4.35×	2.36×	134.88×
Cash conversion cycle (days)	137	210	188	219	277	333	346	218