Transcorp International Limited (TRANSCOR.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

-12.4%

₹21.82

vs ₹24.90 price

Levered DCF

₹9.01

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

—

Rating

B-

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	9×	7.29×	1,885.64×	175×	6.08×	-6.43×	-2.93×	-7.48×
P/B	1.03×	1.13×	1.97×	1.56×	1.09×	0.67×	0.59×	1.22×
P/S	0.09×	0.05×	0.05×	0.03×	0.03×	0.03×	0.01×	0.05×
EV / EBITDA	5.93×	5.59×	26.24×	14.93×	3.87×	103.21×	-17.27×	-15.3×
Gross margin	4.9%	2.0%	1.8%	0.5%	0.5%	0.3%	0.3%	0.3%
Operating margin	0.9%	-0.0%	-0.0%	0.1%	0.0%	-0.6%	-0.3%	-0.6%
Net margin	0.9%	0.7%	0.0%	0.0%	0.4%	-0.5%	-0.4%	-0.7%
Current ratio	1.27×	1.2×	1.1×	1.11×	1.06×	0.8×	0.82×	1.08×
Debt / equity	0.2×	0.3×	0.36×	0.25×	0.4×	1.22×	1.09×	0.65×
Interest coverage	4.64×	-0.11×	-0.12×	1.07×	0.11×	-1.19×	-1.34×	-2.22×
Dividend yield	2.1%	2.6%	0.6%	0.4%	0.0%	0.0%	0.0%	3.3%
Payout ratio	19.0%	18.8%	1061.2%	62.9%	0.1%	0.0%	-0.1%	-24.9%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	11.5%	15.5%	0.1%	0.9%	17.9%	-10.4%	-20.1%	-16.3%
Return on invested capital	6.9%	-0.3%	-0.0%	0.7%	0.5%	-4.1%	-5.4%	-7.4%
Return on assets	4.8%	6.4%	0.0%	0.4%	7.8%	-3.9%	-8.7%	-8.5%
Free cash flow yield	24.4%	0.5%	-9.2%	-10.9%	37.0%	28.5%	-23.4%	-17.1%
Earnings yield	11.1%	13.7%	0.1%	0.6%	16.5%	-15.5%	-34.1%	-13.4%
Enterprise value	₹860.1M	₹885.1M	₹1.3B	₹901.5M	₹598.8M	₹689.1M	₹736M	₹1.1B
Net debt / EBITDA	0.72×	0.91×	2.95×	0.19×	-0.1×	58.22×	-10.49×	-4.8×
Cash conversion cycle (days)	14	6	3	3	3	11	4	8