Vidhi Specialty Food Ingredients Limited (VIDHIING.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

-53.5%

₹142.83

vs ₹307.25 price

Levered DCF

₹46.62

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

12.63

Safe zone

Rating

B+

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	28.08×	53.75×	62.94×	43.18×	35.48×	29.02×	6.72×	13.77×
P/B	4.19×	7.75×	8.19×	6.49×	9.58×	6.58×	1.77×	3.96×
P/S	3.62×	6.1×	7.7×	4.11×	3.94×	4.09×	1.07×	1.81×
EV / EBITDA	18.22×	33.94×	40.48×	30.06×	25.58×	20.41×	5.06×	9.28×
Gross margin	36.4%	37.8%	34.5%	18.3%	20.1%	26.0%	28.3%	25.9%
Operating margin	18.1%	15.9%	15.9%	11.5%	14.2%	30.1%	22.3%	18.7%
Net margin	12.9%	11.4%	12.2%	9.5%	11.1%	14.1%	15.9%	13.1%
Current ratio	3.3×	2.92×	4.74×	2.86×	2.32×	2.99×	2.61×	2.2×
Debt / equity	0.18×	0.22×	0.07×	0.21×	0.42×	0.19×	0.27×	0.44×
Interest coverage	14.43×	24.56×	14.86×	12.54×	19.08×	48.86×	16.17×	12.08×
Dividend yield	1.6%	1.0%	0.3%	0.2%	0.1%	0.4%	2.7%	1.2%
Payout ratio	46.0%	51.8%	19.1%	10.5%	5.1%	11.0%	17.9%	16.6%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	14.9%	14.4%	13.0%	15.0%	27.0%	22.7%	26.4%	28.8%
Return on invested capital	13.0%	11.8%	11.7%	11.3%	17.8%	29.6%	21.6%	20.0%
Return on assets	11.7%	11.0%	11.2%	11.4%	16.7%	16.2%	18.2%	17.1%
Free cash flow yield	1.6%	-0.5%	1.9%	3.3%	-3.0%	0.7%	10.1%	4.5%
Earnings yield	3.6%	1.9%	1.6%	2.3%	2.8%	3.4%	14.9%	7.3%
Enterprise value	₹14.2B	₹23.8B	₹23B	₹16.7B	₹21.7B	₹10.9B	₹2.5B	₹4.3B
Net debt / EBITDA	0.59×	0.65×	0.16×	0.8×	1.05×	0.5×	0.54×	0.56×
Cash conversion cycle (days)	229	210	189	151	151	164	176	141