Vikas EcoTech Limited (VIKASECO.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

-585.2%

-₹4.90

vs ₹1.01 price

Levered DCF

₹3.61

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

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	49.5×	25.1×	66.67×	25×	353.33×	-4.38×	30.19×	19.72×
P/B	0.21×	1.08×	1.21×	0.99×	2.16×	0.49×	0.22×	2.24×
P/S	0.23×	1.13×	1.76×	0.59×	1.97×	0.54×	0.16×	1.31×
EV / EBITDA	12.92×	14.61×	24.47×	13.24×	23.5×	23.66×	8.8×	10.85×
Gross margin	5.5%	6.2%	9.2%	9.6%	4.7%	9.7%	14.7%	14.4%
Operating margin	0.9%	1.8%	10.2%	4.7%	7.9%	0.5%	5.0%	6.3%
Net margin	0.5%	4.5%	2.6%	2.4%	0.6%	-12.4%	0.5%	6.7%
Current ratio	3.77×	2.27×	2.09×	2.19×	2.45×	1.36×	1.49×	1.5×
Debt / equity	0.08×	0.07×	0.05×	0.26×	0.41×	1.18×	1.03×	1.1×
Interest coverage	0.66×	1.6×	4×	1.78×	1.03×	0.03×	0.58×	1.11×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	4.5%	0.4%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	137.5%	8.5%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	0.4%	4.3%	1.8%	4.0%	0.6%	-11.2%	0.7%	11.4%
Return on invested capital	0.4%	1.2%	4.8%	5.7%	4.1%	0.2%	1.2%	3.6%
Return on assets	0.3%	3.3%	1.5%	2.8%	0.4%	-4.4%	0.3%	4.2%
Free cash flow yield	-140.6%	-15.3%	25.3%	38.7%	-4.0%	18.0%	82.9%	-2.2%
Earnings yield	2.0%	4.0%	1.5%	4.0%	0.3%	-22.7%	3.3%	5.1%
Enterprise value	₹1.1B	₹4.5B	₹4.7B	₹3B	₹5.8B	₹2.1B	₹1.8B	₹4.8B
Net debt / EBITDA	3.03×	0.86×	0.93×	2.73×	3.64×	16.68×	7.27×	3.57×
Cash conversion cycle (days)	121	94	120	136	302	503	394	326