Vishnu Chemicals Limited (VISHNU.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

-98.7%

₹6.87

vs ₹522.15 price

Levered DCF

-₹580.55

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

2.92

Grey zone

Rating

Overall 2 / 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	23.11×	23.36×	20.19×	11.82×	23.47×	9.82×	3.56×	7.11×
P/B	3.08×	3.18×	2.91×	3.89×	6.9×	1.73×	0.49×	1.22×
P/S	2.04×	2.03×	1.69×	1.16×	1.79×	0.5×	0.12×	0.23×
EV / EBITDA	15.09×	13.15×	11.23×	8.15×	14.23×	8.55×	4.03×	4.27×
Gross margin	24.8%	24.7%	24.2%	35.5%	36.2%	33.5%	39.6%	40.4%
Operating margin	13.1%	13.1%	14.0%	14.7%	12.6%	8.3%	8.8%	10.9%
Net margin	8.8%	8.8%	8.4%	9.8%	7.6%	5.1%	3.3%	3.2%
Current ratio	1.6×	1.7×	1.58×	1.28×	1.13×	1.06×	1.05×	1.02×
Debt / equity	0.49×	0.37×	0.45×	0.92×	1.32×	1.71×	1.68×	1.88×
Interest coverage	5.5×	5.1×	4.6×	6.28×	5.48×	2.28×	1.69×	1.85×
Dividend yield	0.1%	0.1%	0.3%	0.2%	0.7%	0.4%	1.8%	0.7%
Payout ratio	1.4%	1.5%	6.0%	2.3%	15.9%	3.5%	6.5%	4.9%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	13.3%	13.7%	14.4%	33.0%	29.4%	17.6%	13.9%	17.1%
Return on invested capital	9.2%	10.8%	11.1%	17.9%	13.9%	9.3%	7.7%	9.5%
Return on assets	6.8%	7.8%	7.6%	13.0%	8.9%	4.5%	3.0%	3.2%
Free cash flow yield	-5.0%	-0.9%	-2.6%	1.0%	0.3%	3.8%	26.3%	42.3%
Earnings yield	4.3%	4.3%	5.0%	8.5%	4.3%	10.2%	28.1%	14.1%
Enterprise value	₹38.1B	₹32B	₹23B	₹19.9B	₹22.8B	₹6.7B	₹3.4B	₹4.4B
Net debt / EBITDA	2.06×	1.07×	1.26×	1.55×	2.28×	4.25×	3.1×	2.59×
Cash conversion cycle (days)	115	114	114	60	64	107	73	105