Updater Services Limited (UDS.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

+56.7%

₹307.78

vs ₹196.38 price

Levered DCF

₹401.87

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

3.61

Safe zone

Rating

A+

Overall 4 / 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
P/E	9.96×	16.49×	29.15×	42.37×	27.19×	33.4×	45.28×
P/B	0.81×	2.04×	2.36×	3.98×	4.42×	5.29×	6.31×
P/S	0.29×	0.72×	0.81×	0.72×	1.01×	1.25×	1.15×
EV / EBITDA	4.31×	9.61×	12.68×	15.33×	16.41×	20.46×	26.33×
Gross margin	17.1%	96.7%	94.8%	13.2%	15.0%	12.0%	11.4%
Operating margin	4.1%	4.8%	4.1%	5.1%	6.3%	4.8%	3.6%
Net margin	2.9%	4.3%	2.8%	1.7%	3.7%	3.7%	2.5%
Current ratio	2.21×	2.07×	1.75×	1.17×	1.33×	1.63×	1.25×
Debt / equity	0.04×	0.11×	0.12×	0.58×	0.21×	0.06×	0.41×
Interest coverage	17.73×	12.81×	5.23×	7.33×	18.33×	19.51×	6.32×
Dividend yield	0.0%	0.0%	0.2%	0.1%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	4.8%	2.7%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Return on equity	8.1%	12.4%	8.1%	9.4%	16.2%	15.8%	13.9%
Return on invested capital	8.5%	9.4%	7.2%	8.6%	13.5%	13.1%	10.9%
Return on assets	5.2%	7.5%	4.4%	2.9%	6.3%	7.8%	5.5%
Free cash flow yield	15.9%	1.9%	3.2%	4.2%	1.2%	8.2%	-0.5%
Earnings yield	10.0%	6.1%	3.4%	2.4%	3.7%	3.0%	2.2%
Enterprise value	₹6.4B	₹19.4B	₹20B	₹16.2B	₹15.2B	₹14.8B	₹15.9B
Net debt / EBITDA	-1.4×	-0.08×	0.13×	1×	0.15×	-0.39×	1.32×
Cash conversion cycle (days)	66	-240	-129	72	89	82	84