Trustedge Capital Limited (TRUSTEDGE.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

+58.6%

₹184.73

vs ₹116.50 price

Levered DCF

₹25.65

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

3.41

Safe zone

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	197.99×	116.05×	19.65×	8.65×	31.42×	5.14×	7.24×	9.85×
P/B	1.96×	0.84×	0.48×	0.34×	0.68×	0.16×	0.19×	0.18×
P/S	20.61×	17.36×	10.56×	5.7×	11.28×	2.79×	3.01×	5.79×
EV / EBITDA	315.15×	109.46×	14.71×	8.7×	14.08×	3.22×	5.67×	8.47×
Gross margin	37.3%	46.8%	94.2%	94.2%	94.0%	94.3%	100.0%	95.5%
Operating margin	4.8%	23.2%	71.6%	65.5%	77.5%	73.7%	84.3%	89.8%
Net margin	10.4%	15.1%	53.7%	65.8%	35.8%	54.1%	41.7%	58.8%
Current ratio	0.33×	131.34×	1.61×	0.18×	25.08×	48.48×	1.35×	1.63×
Debt / equity	0.18×	0.44×	0×	0×	0×	0×	0.03×	0×
Interest coverage	72.57×	72.57×	0×	0×	0×	216.73×	24.47×	19.23×
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%	0.7%	2.5%	4.0%	2.1%	3.1%	2.7%	1.8%
Return on invested capital	0.4%	1.1%	2.7%	3.9%	2.1%	2.8%	4.7%	2.4%
Return on assets	0.8%	0.7%	2.7%	3.9%	2.1%	2.9%	2.6%	1.8%
Free cash flow yield	-32.7%	8.3%	-1.0%	8.3%	-0.4%	-13.2%	-217.8%	10.2%
Earnings yield	0.5%	0.9%	5.1%	11.5%	3.2%	19.4%	13.9%	10.2%
Enterprise value	₹1.2B	₹241.2M	₹109M	₹59M	₹106.3M	₹21M	₹30M	₹37.5M
Net debt / EBITDA	22.13×	23.36×	-0.02×	-0×	-0.48×	-0.56×	0.66×	-0.05×
Cash conversion cycle (days)	-17	-4	4,446	-32	0	0	-26	-40