Vaxtex Cotfab Limited (VCL.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

-38.0%

₹0.99

vs ₹1.60 price

Levered DCF

-₹2.12

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

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	4.27×	15.19×	-1.69×	22×	76.79×	636.09×	1,221.59×	188.6×
P/B	1.05×	0.73×	0.8×	1.02×	10.96×	12.8×	13.13×	24.02×
P/S	2.11×	2.55×	0.9×	0.32×	1.83×	4.34×	4.09×	5.17×
EV / EBITDA	5.34×	39.06×	-3.07×	14×	35.7×	82.58×	97.27×	118.24×
Gross margin	20.2%	0.1%	-31.6%	7.0%	12.6%	10.3%	11.5%	34.3%
Operating margin	16.8%	-11.5%	-32.9%	-0.6%	4.4%	4.9%	4.4%	3.9%
Net margin	49.5%	16.8%	-53.2%	1.5%	2.4%	0.7%	0.3%	2.7%
Current ratio	2.84×	1.8×	2.11×	1.62×	2.72×	6.99×	1.7×	1.26×
Debt / equity	0.23×	0.61×	0.61×	0.22×	0.72×	1.16×	1.46×	0.7×
Interest coverage	25.66×	-5.38×	-83.07×	-0.67×	2.51×	1.18×	1.16×	58.88×
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	24.6%	4.8%	-47.0%	4.8%	14.3%	2.0%	1.1%	12.7%
Return on invested capital	6.8%	-2.1%	-17.9%	-1.4%	11.4%	3.6%	2.9%	7.2%
Return on assets	15.0%	1.8%	-18.1%	1.6%	6.2%	0.8%	0.3%	4.5%
Free cash flow yield	0.0%	8.7%	-87.7%	-49.8%	1.6%	-0.6%	-7.1%	1.3%
Earnings yield	23.4%	6.6%	-59.0%	4.7%	1.3%	0.2%	0.1%	0.5%
Enterprise value	₹275.4M	₹245.4M	₹264.7M	₹289.6M	₹1.2B	₹1.2B	₹1.3B	₹1.2B
Net debt / EBITDA	0.77×	17.71×	-1.33×	2.47×	2.16×	6.79×	9.59×	2.8×
Cash conversion cycle (days)	550	359	55	-58	41	129	90	-21