Trejhara Solutions Limited (TREJHARA.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

-196.9%

-₹116.20

vs ₹119.90 price

Levered DCF

-₹414.88

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

C+

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	38.81×	84.64×	10.21×	-0.21×	7.34×	3.16×	0.99×	2.51×
P/B	1.11×	1.24×	0.91×	0.32×	0.17×	0.08×	0.02×	0.08×
P/S	2.33×	9.81×	8.81×	0.93×	1.38×	0.65×	0.12×	0.4×
EV / EBITDA	21.17×	29.04×	10.04×	-0.37×	6.31×	4.27×	2.9×	3.95×
Gross margin	9.9%	22.0%	36.1%	3.8%	33.5%	36.9%	31.6%	29.4%
Operating margin	2.7%	7.1%	35.2%	1.4%	22.7%	25.1%	15.6%	19.7%
Net margin	6.0%	11.6%	86.3%	-435.1%	18.8%	20.5%	11.9%	15.9%
Current ratio	1.52×	11.2×	6.92×	1.4×	3.19×	3.66×	3.07×	2.96×
Debt / equity	0.08×	0×	0.01×	0.1×	0.05×	0.07×	0.07×	0.14×
Interest coverage	3.52×	13.93×	7.81×	0.43×	8.34×	7.18×	2.11×	2.58×
Dividend yield	0.0%	0.0%	0.0%	0.9%	0.0%	0.0%	10.3%	0.0%
Payout ratio	0.0%	0.0%	0.0%	-0.2%	0.0%	0.0%	10.2%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	2.9%	1.5%	8.9%	-150.9%	2.3%	2.4%	1.5%	3.0%
Return on invested capital	1.0%	0.6%	3.4%	0.4%	2.1%	2.4%	1.6%	2.6%
Return on assets	2.2%	1.4%	8.2%	-86.4%	1.8%	1.9%	1.2%	2.3%
Free cash flow yield	-2.0%	3.3%	-62.8%	13.3%	13.2%	-0.3%	219.9%	89.4%
Earnings yield	2.6%	1.2%	9.8%	-469.7%	13.6%	31.6%	101.3%	39.9%
Enterprise value	₹3.3B	₹2.7B	₹2B	₹827.5M	₹1B	₹685.5M	₹392.4M	₹881.5M
Net debt / EBITDA	0.14×	-1.39×	0.01×	-0.09×	1.44×	2.09×	2.4×	2.57×
Cash conversion cycle (days)	6	-59	1,711	890	1,029	963	126	63