Vipul Organics Limited (VIPULORG.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

-165.4%

-₹139.75

vs ₹213.70 price

Levered DCF

-₹231.12

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

—

Rating

C-

Overall 1 / 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	41.51×	49.63×	55.45×	61.47×	24.04×	22.83×	12.01×	31.64×
P/B	2.45×	2.75×	3.17×	1.75×	3.21×	3.87×	1.77×	3.97×
P/S	1.64×	1.09×	1.24×	0.7×	1.28×	1.34×	0.64×	1.28×
EV / EBITDA	17.03×	14.96×	17.16×	10.29×	11.82×	10.82×	7.52×	19.59×
Gross margin	24.4%	13.5%	27.6%	28.5%	28.2%	29.9%	26.6%	21.4%
Operating margin	6.2%	4.5%	4.1%	4.5%	7.3%	9.2%	5.4%	4.5%
Net margin	3.9%	2.7%	2.2%	1.4%	5.3%	5.9%	5.3%	4.0%
Current ratio	1.49×	1.23×	1.27×	1.36×	1.29×	1.31×	1.06×	1.18×
Debt / equity	0.45×	0.75×	0.53×	0.6×	0.58×	0.69×	0.67×	0.69×
Interest coverage	4.78×	2.7×	2.52×	2.24×	5.82×	7.89×	5.29×	3.62×
Dividend yield	0.5%	0.7%	0.6%	1.3%	0.5%	0.5%	1.3%	0.7%
Payout ratio	20.5%	29.8%	34.5%	62.9%	12.6%	11.6%	15.3%	20.6%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	5.9%	6.9%	5.7%	3.5%	13.3%	16.9%	14.8%	12.5%
Return on invested capital	4.6%	4.5%	4.9%	4.8%	8.2%	11.1%	6.1%	5.8%
Return on assets	3.0%	2.8%	2.5%	1.5%	5.5%	6.4%	5.0%	4.8%
Free cash flow yield	-9.0%	-8.7%	-1.1%	7.6%	-6.6%	-2.3%	4.6%	2.9%
Earnings yield	2.4%	2.5%	1.8%	2.0%	4.2%	4.4%	8.3%	3.2%
Enterprise value	₹3.1B	₹2.2B	₹2.2B	₹1.2B	₹2B	₹1.8B	₹747M	₹1.3B
Net debt / EBITDA	1.26×	3.15×	2.42×	2.36×	1.71×	1.39×	1.74×	2.68×
Cash conversion cycle (days)	106	116	96	103	107	72	22	32