Vrundavan Plantation Limited (VPL.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

-4551.2%

-₹1,471.11

vs ₹33.05 price

Levered DCF

-₹2,481.57

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

2.24

Grey 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	FY2019
P/E	10.3×	16.06×	9.87×	0×	0×	0×	0×
P/B	0.63×	1.38×	0.8×	0×	0×	0×	0×
P/S	0.44×	1.29×	0.89×	0×	0×	0×	0×
EV / EBITDA	8.3×	13.39×	6.22×	1.5×	4.2×	3.95×	1.88×
Gross margin	26.1%	38.6%	54.0%	53.0%	60.2%	68.8%	55.7%
Operating margin	7.2%	9.6%	13.4%	13.8%	7.6%	8.5%	6.4%
Net margin	4.2%	6.9%	9.0%	10.9%	2.8%	4.3%	3.4%
Current ratio	2.42×	2.9×	3.93×	1.18×	2.92×	7.84×	3.28×
Debt / equity	0.39×	0.12×	0×	1.73×	4.38×	2.02×	0.78×
Interest coverage	4.56×	18.36×	10.9×	0×	0×	0×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2019
Return on equity	6.1%	7.4%	8.1%	84.2%	32.4%	25.7%	21.0%
Return on invested capital	5.7%	6.9%	9.0%	39.1%	16.2%	16.8%	21.9%
Return on assets	3.9%	5.4%	6.6%	8.0%	5.7%	7.7%	9.5%
Free cash flow yield	-61.1%	-10.1%	-109.0%	0.0%	0.0%	0.0%	0.0%
Earnings yield	9.7%	5.4%	10.1%	0.0%	0.0%	0.0%	0.0%
Enterprise value	₹284.4M	₹344.1M	₹159.6M	₹40.7M	₹44.7M	₹22.2M	₹7.8M
Net debt / EBITDA	2.96×	0.62×	-0.3×	1.5×	4.2×	3.95×	1.88×
Cash conversion cycle (days)	259	320	314	-51	99	128	67