Vaswani Industries Limited (VASWANI.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

-2171.9%

-₹815.09

vs ₹39.34 price

Levered DCF

-₹723.71

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	38.24×	12.88×	10.98×	10×	13.57×	7.37×	-2.92×	25.51×
P/B	1.08×	0.81×	0.82×	0.53×	0.56×	0.29×	0.08×	0.32×
P/S	0.35×	0.27×	0.25×	0.15×	0.16×	0.09×	0.02×	0.09×
EV / EBITDA	10.33×	8.69×	6.03×	4.42×	6.17×	3.79×	4.15×	4.51×
Gross margin	21.3%	16.2%	7.3%	7.0%	9.4%	9.5%	4.1%	8.8%
Operating margin	6.6%	5.4%	4.7%	4.6%	4.4%	4.5%	2.8%	3.9%
Net margin	0.9%	2.1%	2.3%	1.5%	1.2%	1.3%	-0.7%	0.4%
Current ratio	1.37×	1.53×	2.63×	1.82×	1.46×	1.56×	1.37×	1.3×
Debt / equity	1.85×	1.14×	0.27×	0.32×	0.49×	0.41×	0.54×	0.55×
Interest coverage	1.75×	2.79×	2.39×	2.11×	1.89×	1.52×	0.99×	1.33×
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	2.8%	6.3%	7.4%	5.3%	4.1%	4.0%	-2.6%	1.3%
Return on invested capital	2.0%	4.8%	8.2%	6.4%	6.0%	7.0%	-97.5%	3.0%
Return on assets	0.8%	2.4%	4.8%	3.0%	2.0%	2.1%	-1.3%	0.6%
Free cash flow yield	-142.6%	-91.6%	22.3%	48.6%	-3.2%	92.8%	116.1%	24.5%
Earnings yield	2.6%	7.8%	9.1%	10.0%	7.4%	13.6%	-34.3%	3.9%
Enterprise value	₹4.2B	₹2.2B	₹1.3B	₹946.2M	₹1.1B	₹713.8M	₹594.1M	₹802.1M
Net debt / EBITDA	6.37×	4.35×	1.49×	1.62×	2.86×	2.21×	3.64×	2.83×
Cash conversion cycle (days)	46	33	68	78	67	103	93	73