Triton Valves Limited (TRITONV.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

-170.2%

-₹708.78

vs ₹1,010.00 price

Levered DCF

-₹1,295.49

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

4.22

Safe zone

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	43.09×	66.72×	106.64×	-17.3×	-41.04×	12.69×	7.8×	30.13×
P/B	3.26×	3.13×	2.92×	2.1×	1.5×	1.16×	0.55×	1.44×
P/S	0.72×	0.7×	0.7×	0.44×	0.37×	0.43×	0.24×	0.53×
EV / EBITDA	13.95×	14.65×	12.42×	18.94×	12.61×	7.41×	3.89×	7.82×
Gross margin	18.6%	18.5%	9.1%	19.1%	6.9%	11.3%	18.0%	10.3%
Operating margin	4.9%	3.9%	4.3%	1.0%	1.7%	5.5%	6.7%	4.6%
Net margin	1.7%	1.0%	0.7%	-2.5%	-0.9%	3.4%	3.1%	1.8%
Current ratio	1.2×	1.14×	1.19×	0.97×	0.97×	1.05×	1.18×	1.13×
Debt / equity	1.03×	1.21×	1.16×	1.83×	1.52×	1.14×	0.76×	0.76×
Interest coverage	2.1×	1.52×	1.42×	0.31×	0.67×	2.93×	2.46×	1.73×
Dividend yield	0.3%	0.3%	0.0%	0.3%	2.1%	0.0%	7.6%	1.7%
Payout ratio	11.3%	20.3%	0.0%	-6.0%	-85.7%	0.0%	59.3%	51.8%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	7.6%	4.7%	2.7%	-12.1%	-3.6%	9.1%	7.0%	4.8%
Return on invested capital	7.6%	5.2%	4.4%	1.6%	2.7%	5.5%	6.2%	5.7%
Return on assets	3.0%	1.8%	1.1%	-3.6%	-1.3%	3.6%	3.4%	2.4%
Free cash flow yield	-2.2%	-12.1%	7.1%	2.0%	-18.3%	-32.9%	23.5%	6.8%
Earnings yield	2.3%	1.5%	0.9%	-5.8%	-2.4%	7.9%	12.8%	3.3%
Enterprise value	₹5.5B	₹4.7B	₹3.9B	₹2.8B	₹2.4B	₹1.8B	₹912.1M	₹1.6B
Net debt / EBITDA	3.27×	4.07×	2.85×	8.83×	6.3×	3.42×	2.08×	2.66×
Cash conversion cycle (days)	100	106	81	108	105	98	118	99