Vadilal Industries Limited (VADILALIND.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

+16.7%

₹8,731.72

vs ₹7,482.00 price

Levered DCF

₹6,150.47

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

10.01

Safe zone

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	18.95×	25.05×	21.96×	16.39×	22.67×	139.08×	7.8×	13.3×
P/B	3.46×	5.42×	5.91×	3.97×	3.41×	2.56×	1.31×	2.14×
P/S	1.96×	3.04×	2.85×	1.49×	1.46×	1.39×	0.54×	0.78×
EV / EBITDA	11.56×	15.43×	14.69×	10.42×	10.83×	17.46×	5.73×	7.06×
Gross margin	35.6%	36.9%	48.7%	47.0%	44.0%	40.9%	41.6%	41.9%
Operating margin	13.3%	15.8%	36.5%	13.2%	11.1%	3.8%	10.3%	9.9%
Net margin	10.3%	12.1%	13.0%	9.1%	6.4%	1.0%	6.9%	5.9%
Current ratio	3×	2.56×	2.02×	1.44×	1.39×	1.04×	0.98×	1.01×
Debt / equity	0.27×	0.31×	0.41×	0.73×	0.62×	0.63×	0.78×	0.71×
Interest coverage	12.21×	14.33×	22.9×	8.8×	3.97×	0.83×	3.68×	3.96×
Dividend yield	0.5%	0.0%	0.0%	0.1%	0.0%	0.0%	0.3%	0.2%
Payout ratio	9.7%	0.7%	0.7%	0.9%	0.0%	0.0%	2.6%	3.2%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	18.2%	21.6%	26.9%	24.2%	15.0%	1.8%	16.8%	16.1%
Return on invested capital	13.5%	15.7%	41.9%	14.4%	10.7%	2.5%	11.4%	9.3%
Return on assets	12.2%	13.7%	15.9%	11.5%	7.2%	0.8%	7.2%	7.0%
Free cash flow yield	1.2%	1.0%	4.1%	-1.2%	1.1%	10.4%	-0.5%	2.7%
Earnings yield	5.3%	4.0%	4.6%	6.1%	4.4%	0.7%	12.8%	7.5%
Enterprise value	₹31.3B	₹39.4B	₹33.8B	₹18.4B	₹11.5B	₹7.8B	₹5.1B	₹5.9B
Net debt / EBITDA	0.69×	0.7×	0.78×	1.47×	1.32×	2.98×	2.08×	1.71×
Cash conversion cycle (days)	124	119	117	143	122	81	100	86