Vishal Fabrics Limited (VISHAL.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

+155.2%

₹42.54

vs ₹16.67 price

Levered DCF

₹11.71

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

2.9

Grey zone

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	9.94×	18.91×	18.31×	6.16×	10.11×	22.59×	23.17×	68.64×
P/B	0.55×	1.3×	0.94×	0.83×	2.08×	1.55×	2.82×	5.63×
P/S	0.22×	0.41×	0.27×	0.21×	0.45×	0.43×	0.54×	1.23×
EV / EBITDA	5.02×	7.46×	8.42×	4.98×	6.54×	8.71×	9.86×	20.86×
Gross margin	6.5%	11.1%	9.2%	8.1%	16.8%	18.3%	15.5%	17.3%
Operating margin	5.1%	5.5%	4.0%	6.6%	8.4%	7.0%	5.8%	4.7%
Net margin	2.2%	1.9%	1.5%	3.4%	4.5%	1.9%	2.3%	1.8%
Current ratio	2.37×	1.94×	1.83×	1.79×	1.57×	1.5×	1.56×	1.5×
Debt / equity	0.35×	0.61×	0.92×	0.81×	1.13×	1.46×	1.48×	1.65×
Interest coverage	2.07×	2.09×	1.48×	2.75×	3.4×	1.96×	2.33×	1.79×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.2%	0.3%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	1.5%	5.8%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	5.5%	6.1%	5.1%	13.5%	20.6%	6.8%	12.2%	8.2%
Return on invested capital	6.9%	6.0%	4.8%	11.1%	13.2%	6.2%	8.4%	7.0%
Return on assets	3.5%	3.1%	2.3%	6.1%	7.9%	2.3%	3.9%	2.4%
Free cash flow yield	-11.0%	15.5%	-2.3%	19.6%	9.0%	1.1%	4.5%	1.1%
Earnings yield	10.1%	4.6%	5.5%	16.2%	9.9%	4.4%	4.3%	1.5%
Enterprise value	₹5.7B	₹9.2B	₹7.7B	₹6.4B	₹10.8B	₹7.8B	₹10.4B	₹15.8B
Net debt / EBITDA	1.88×	2.38×	4.18×	2.46×	2.3×	4.15×	3.27×	4.7×
Cash conversion cycle (days)	138	124	130	97	81	107	62	48