Unichem Laboratories Limited (UNICHEMLAB.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

-304.9%

-₹1,030.49

vs ₹502.90 price

Levered DCF

-₹1,710.90

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

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	8.17×	35.56×	-49.22×	-10.08×	55.3×	63.65×	-18.23×	-57.72×
P/B	0.76×	2×	1.47×	0.84×	0.7×	0.86×	0.43×	0.52×
P/S	0.94×	2.32×	2.09×	1.54×	1.46×	1.81×	0.95×	1.22×
EV / EBITDA	5.07×	19.92×	48.03×	-47.57×	25.76×	15.77×	26.51×	94.48×
Gross margin	30.0%	59.1%	19.2%	59.8%	64.3%	65.4%	64.6%	58.4%
Operating margin	2.7%	40.0%	-0.8%	-13.0%	-1.9%	-1.6%	-11.3%	-12.1%
Net margin	11.5%	6.5%	-4.3%	-15.3%	2.6%	2.8%	-5.2%	-2.1%
Current ratio	2.48×	2.05×	2.39×	2.48×	2.98×	2.72×	2.98×	4.05×
Debt / equity	0.18×	0.19×	0.1×	0.13×	0.13×	0.05×	0.08×	0.08×
Interest coverage	1.87×	40.18×	-0.57×	-9.99×	-3.99×	-3.9×	-16.64×	-18.1×
Dividend yield	0.0%	0.0%	0.0%	1.4%	1.6%	1.3%	3.1%	3.1%
Payout ratio	0.1%	0.2%	-0.3%	-14.0%	85.8%	83.5%	-56.6%	-177.9%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	9.3%	5.6%	-3.0%	-8.3%	1.3%	1.3%	-2.4%	-0.9%
Return on invested capital	1.6%	25.5%	-0.5%	-6.2%	-0.8%	-0.5%	-4.7%	-2.0%
Return on assets	6.8%	3.9%	-2.2%	-6.3%	1.0%	1.1%	-1.9%	-0.8%
Free cash flow yield	-6.7%	-2.9%	-0.2%	-6.3%	-21.1%	-11.7%	-33.4%	-38.0%
Earnings yield	12.2%	2.8%	-2.0%	-9.9%	1.8%	1.6%	-5.5%	-1.7%
Enterprise value	₹22.8B	₹52.8B	₹35.7B	₹21.7B	₹20.7B	₹22.3B	₹10.8B	₹13.8B
Net debt / EBITDA	0.47×	1.4×	1.3×	-2.86×	2.99×	0.29×	-0.49×	0.18×
Cash conversion cycle (days)	284	382	245	386	493	385	266	247