TVS Electronics Limited (TVSELECT.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

-72.9%

₹100.13

vs ₹369.95 price

Levered DCF

-₹85.95

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

—

Rating

D+

Overall 1 / 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	537.39×	-163.7×	2,048.57×	65.08×	31.57×	311.71×	252.86×	51.84×
P/B	7.06×	6.67×	5.41×	6.08×	5.15×	2.91×	1.23×	4.44×
P/S	1.49×	1.44×	1.46×	1.75×	1.55×	1.06×	0.38×	0.14×
EV / EBITDA	30.1×	46.89×	47.17×	29.26×	16.91×	22.33×	8.75×	21.21×
Gross margin	27.9%	27.6%	47.9%	47.0%	50.3%	50.4%	51.8%	4.8%
Operating margin	0.6%	-0.8%	-0.3%	3.7%	6.7%	0.8%	0.4%	0.5%
Net margin	0.3%	-0.9%	0.1%	2.7%	4.9%	0.3%	0.2%	0.3%
Current ratio	1.18×	1.22×	1.37×	1.41×	1.39×	1.29×	1.21×	1.36×
Debt / equity	0.56×	0.46×	0.41×	0.13×	0.1×	0.08×	0.33×	0×
Interest coverage	0.42×	-0.63×	-0.47×	9.46×	21.61×	0.99×	0.45×	214.29×
Dividend yield	0.1%	0.3%	0.7%	0.0%	0.8%	0.0%	6.7%	0.9%
Payout ratio	50.0%	-49.3%	1381.5%	0.0%	24.7%	0.0%	1705.1%	45.3%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	1.3%	-4.1%	0.3%	9.4%	16.3%	0.9%	0.5%	8.6%
Return on invested capital	1.9%	-1.5%	0.3%	8.2%	14.6%	1.7%	-19.0%	8.6%
Return on assets	0.4%	-1.5%	0.1%	4.3%	7.5%	0.5%	0.2%	4.5%
Free cash flow yield	-0.6%	-0.5%	-2.6%	-3.9%	4.7%	12.7%	-9.8%	-3.1%
Earnings yield	0.2%	-0.6%	0.1%	1.5%	3.2%	0.3%	0.4%	1.9%
Enterprise value	₹7.3B	₹6.6B	₹5.7B	₹6.2B	₹4.8B	₹2.4B	₹1.1B	₹3.8B
Net debt / EBITDA	2.03×	2.84×	3.18×	0.21×	-0.05×	-0.13×	0.99×	-0.18×
Cash conversion cycle (days)	64	39	18	55	1	-11	10	1