United Polyfab Gujarat Limited (UNITEDPOLY.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

-64.3%

₹18.57

vs ₹52.00 price

Levered DCF

-₹3.07

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

7.39

Safe zone

Rating

Overall 3 / 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	21.28×	1.97×	3.05×	2.87×	1.24×	7.26×	0.13×	0.56×
P/B	3.9×	0.36×	0.25×	0.25×	0.21×	0.07×	0.01×	0.03×
P/S	0.76×	0.06×	0.02×	0.02×	0.02×	0.02×	0×	0.01×
EV / EBITDA	11.64×	3.37×	4.26×	4.14×	3.65×	4.64×	4.47×	5.35×
Gross margin	8.7%	9.9%	5.0%	6.1%	6.3%	15.9%	4.9%	7.6%
Operating margin	5.8%	5.0%	2.2%	2.5%	2.1%	6.3%	4.0%	6.8%
Net margin	3.6%	2.9%	0.7%	0.8%	1.4%	0.2%	1.3%	1.2%
Current ratio	2.1×	1.64×	1.64×	1.52×	1.39×	1.79×	1.74×	1.63×
Debt / equity	0.8×	1.22×	1.58×	1.79×	2.2×	2.37×	2.15×	2.8×
Interest coverage	3.93×	3.09×	2.07×	1.86×	1.59×	1.13×	1.54×	1.36×
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	18.3%	18.2%	8.3%	8.6%	17.1%	1.0%	7.5%	4.5%
Return on invested capital	12.8%	11.2%	5.0%	6.1%	5.8%	1.8%	5.2%	3.7%
Return on assets	8.9%	7.2%	2.7%	2.8%	4.5%	0.3%	1.8%	0.9%
Free cash flow yield	0.3%	20.8%	-121.5%	49.9%	62.6%	797.4%	5714.1%	948.2%
Earnings yield	4.7%	50.9%	32.8%	34.9%	80.3%	13.8%	744.3%	179.0%
Enterprise value	₹6.1B	₹1.5B	₹1.5B	₹1.2B	₹1.2B	₹1.1B	₹972.1M	₹1.2B
Net debt / EBITDA	1.85×	2.58×	3.67×	3.61×	3.29×	4.51×	4.45×	5.3×
Cash conversion cycle (days)	69	77	44	37	36	64	58	93