UTL Industries Limited (UTLINDS.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

-542.5%

-₹5.89

vs ₹1.33 price

Levered DCF

-₹1.78

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

—

Rating

C-

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	74.47×	-101.81×	-31.86×	-52.67×	-70.93×	148.02×	240.41×	61.88×
P/B	1.03×	2.54×	1.72×	1.15×	3.27×	10.15×	6.09×	11.38×
P/S	16.01×	65.12×	80.12×	130.72×	102.53×	22.43×	6.03×	4.29×
EV / EBITDA	74.57×	-102.63×	-32.1×	-54.44×	-79.36×	104.99×	162.41×	42.85×
Gross margin	78.7%	22.2%	35.5%	13.3%	51.7%	27.3%	14.0%	14.8%
Operating margin	21.6%	-68.0%	-2.4%	-336.8%	17.2%	20.5%	7.0%	11.5%
Net margin	21.5%	-64.0%	-251.5%	-248.2%	-144.6%	15.2%	2.5%	7.0%
Current ratio	22.7×	16.65×	15.85×	3.45×	3.44×	2.88×	2.38×	2.31×
Debt / equity	0.02×	0.02×	0×	0.01×	0.01×	0.01×	0.01×	0×
Interest coverage	0×	0×	-6.73×	-1,824.31×	1.47×	163.25×	537.37×	298.57×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.3%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	20.8%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	1.4%	-2.5%	-5.4%	-2.2%	-4.6%	6.9%	2.5%	18.4%
Return on invested capital	1.4%	-2.6%	-0.1%	-2.9%	0.5%	6.7%	5.0%	21.3%
Return on assets	1.3%	-2.3%	-5.1%	-1.6%	-3.3%	4.5%	1.5%	10.5%
Free cash flow yield	0.1%	-0.5%	-0.7%	-0.2%	0.4%	0.2%	0.1%	-0.4%
Earnings yield	1.3%	-1.0%	-3.1%	-1.9%	-1.4%	0.7%	0.4%	1.6%
Enterprise value	₹43.6M	₹104.7M	₹72.3M	₹50.5M	₹147.4M	₹480.3M	₹268.3M	₹488.9M
Net debt / EBITDA	1.1×	-0.61×	-0×	0.54×	0.32×	-0.04×	-0.19×	-0.04×
Cash conversion cycle (days)	5,184	9,361	-2,092	36,935	6,058	663	337	123