Vedavaag Systems Limited (VEDAVAAG.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

+428.6%

₹100.69

vs ₹19.05 price

Levered DCF

₹3.49

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	7.14×	11.98×	14.52×	11.45×	16.19×	9.15×	5.79×	6.58×
P/B	0.24×	0.67×	0.86×	0.68×	1.11×	0.55×	0.33×	0.62×
P/S	0.29×	0.94×	1.32×	1.02×	1.41×	0.89×	0.47×	0.85×
EV / EBITDA	2.77×	6.14×	6.83×	5.39×	8×	4.24×	2.83×	3.69×
Gross margin	11.8%	11.8%	15.7%	90.7%	90.8%	28.8%	25.3%	31.2%
Operating margin	6.6%	11.7%	11.6%	11.8%	11.7%	12.7%	10.7%	15.6%
Net margin	4.0%	7.9%	9.1%	8.9%	8.7%	9.7%	8.1%	12.9%
Current ratio	3.77×	7.29×	5.45×	4.81×	5.31×	4.19×	4.5×	6.55×
Debt / equity	0.01×	0.02×	0.02×	0.03×	0.04×	0.04×	0.05×	0×
Interest coverage	6.09×	10.68×	50.7×	160.31×	85.98×	119.31×	48.15×	64.38×
Dividend yield	3.2%	1.7%	1.2%	1.6%	1.0%	1.8%	6.3%	3.5%
Payout ratio	22.5%	20.4%	17.4%	18.2%	16.6%	16.4%	36.7%	22.9%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	3.4%	5.7%	5.9%	5.9%	6.8%	6.1%	5.7%	9.5%
Return on invested capital	3.8%	5.5%	5.5%	5.5%	6.3%	5.3%	5.1%	9.1%
Return on assets	2.6%	4.6%	4.7%	4.9%	5.7%	5.1%	4.7%	7.9%
Free cash flow yield	3.9%	-7.0%	4.2%	3.0%	1.5%	4.1%	-20.0%	-29.6%
Earnings yield	14.0%	8.5%	6.9%	8.7%	6.2%	10.9%	17.3%	15.2%
Enterprise value	₹340.9M	₹967.9M	₹1.1B	₹889.8M	₹1.4B	₹657.6M	₹403M	₹641.9M
Net debt / EBITDA	-0.25×	-0.15×	0×	0.13×	0.18×	0.12×	0.29×	-0.09×
Cash conversion cycle (days)	111	137	115	-127	-106	25	102	291