Triveni Engineering & Industries Limited (TRIVENI.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

+153.3%

₹618.05

vs ₹244.01 price

Levered DCF

-₹922.50

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

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	31.12×	34.11×	18.36×	3.64×	17.74×	7.04×	2.73×	7.89×
P/B	2.5×	3.02×	2.5×	2.44×	3.93×	1.33×	0.68×	1.5×
P/S	1.33×	1.66×	1.39×	1.17×	1.8×	0.46×	0.22×	0.54×
EV / EBITDA	17.2×	21.24×	12.49×	3.49×	12.8×	5.17×	4.05×	8.63×
Gross margin	17.3%	22.8%	26.9%	23.3%	27.9%	20.4%	31.6%	35.2%
Operating margin	6.4%	6.3%	10.1%	9.5%	13.6%	11.0%	11.9%	9.6%
Net margin	4.3%	4.3%	7.6%	32.1%	10.1%	6.6%	8.0%	6.9%
Current ratio	1.49×	1.46×	1.72×	1.97×	1.36×	1.43×	1.3×	1.18×
Debt / equity	0.65×	0.64×	0.49×	0.35×	0.82×	0.64×	1.16×	1.48×
Interest coverage	4.03×	4.28×	9.5×	9.29×	10.5×	9.58×	6.33×	4.54×
Dividend yield	1.0%	0.3%	2.3%	0.7%	1.0%	0.0%	3.6%	1.1%
Payout ratio	32.6%	11.3%	42.9%	2.7%	17.1%	0.0%	9.8%	8.4%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	8.0%	7.8%	13.6%	67.2%	22.2%	18.9%	25.0%	19.0%
Return on invested capital	5.2%	4.9%	8.8%	12.8%	11.5%	11.5%	12.4%	8.6%
Return on assets	4.1%	3.9%	7.7%	40.2%	9.9%	8.1%	8.3%	5.7%
Free cash flow yield	-0.9%	-4.9%	-3.5%	2.5%	-6.2%	33.8%	43.0%	-23.8%
Earnings yield	3.2%	2.6%	5.4%	27.5%	5.6%	14.2%	36.6%	12.7%
Enterprise value	₹104.7B	₹113.3B	₹86B	₹73.7B	₹90.7B	₹30.5B	₹24.3B	₹33.8B
Net debt / EBITDA	3.46×	3.62×	1.96×	0.41×	2.19×	1.66×	2.53×	4.27×
Cash conversion cycle (days)	211	215	233	172	240	141	183	314