Vaishali Pharma Limited (VAISHALI.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

-85.9%

₹0.95

vs ₹6.70 price

Levered DCF

-₹12.74

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

—

Rating

C+

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	15.25×	20.68×	23.37×	2.33×	1.73×	3.29×	133.33×	3.87×
P/B	0.92×	0.26×	0.39×	0.4×	0.26×	0.15×	0.2×	0.13×
P/S	0.58×	0.17×	0.19×	0.23×	0.09×	0.06×	0.07×	0.04×
EV / EBITDA	19.68×	8.42×	9.06×	2.69×	3.08×	4.72×	7×	4.86×
Gross margin	9.3%	10.4%	11.2%	18.5%	10.6%	11.4%	12.5%	5.2%
Operating margin	3.2%	-0.4%	0.8%	17.7%	8.2%	3.3%	0.8%	2.5%
Net margin	3.8%	0.8%	0.8%	9.5%	5.3%	1.9%	0.1%	1.0%
Current ratio	2.34×	2.61×	2.25×	2.27×	1.47×	1.37×	1.52×	1.48×
Debt / equity	0.27×	0.19×	0.31×	0.36×	0.79×	0.8×	0.8×	0.8×
Interest coverage	1.79×	-0.25×	0.3×	5.47×	2.5×	0.67×	0.18×	0.67×
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	6.0%	1.3%	1.7%	16.3%	15.3%	4.7%	0.2%	3.3%
Return on invested capital	3.0%	-0.3%	0.9%	16.6%	9.2%	3.3%	0.5%	2.9%
Return on assets	3.4%	0.7%	0.9%	8.4%	4.9%	1.2%	0.0%	1.0%
Free cash flow yield	0.0%	-115.8%	1.6%	4.8%	6.5%	54.8%	75.1%	92.0%
Earnings yield	6.6%	4.8%	4.3%	40.5%	57.6%	30.4%	0.8%	25.7%
Enterprise value	₹809.7M	₹277.6M	₹287.2M	₹305.1M	₹266.3M	₹209.7M	₹209.8M	₹196.2M
Net debt / EBITDA	4.24×	3.25×	3.8×	1.25×	2.27×	3.95×	5.59×	4.17×
Cash conversion cycle (days)	105	80	168	243	181	220	216	172