Xpro India Limited (XPROINDIA.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

-211.0%

-₹1,103.42

vs ₹994.10 price

Levered DCF

-₹1,242.12

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	119.68×	68.83×	51.07×	27.06×	38.56×	10.34×	48.18×	18.27×
P/B	3.03×	4.29×	4×	5.26×	10.07×	0.96×	0.23×	0.52×
P/S	4.55×	4.89×	4.81×	2.4×	3.67×	0.23×	0.05×	0.12×
EV / EBITDA	53.38×	40.23×	29.86×	16.46×	27.88×	5.09×	5.93×	8.27×
Gross margin	20.8%	20.2%	31.8%	31.5%	25.9%	10.4%	24.6%	24.3%
Operating margin	7.0%	7.3%	26.1%	12.3%	11.1%	7.9%	4.8%	3.8%
Net margin	3.8%	7.1%	9.4%	8.9%	9.5%	2.2%	0.1%	0.7%
Current ratio	4.12×	3.36×	5.56×	1.55×	1.53×	1.07×	0.98×	1.02×
Debt / equity	0.43×	0.44×	0.07×	0.17×	0.52×	1.5×	2.05×	2.1×
Interest coverage	4.71×	6.61×	24.22×	8.35×	4.02×	1.7×	0.95×	0.69×
Dividend yield	0.2%	0.2%	0.2%	0.2%	0.0%	0.0%	0.0%	0.2%
Payout ratio	24.0%	11.7%	9.3%	5.1%	0.0%	0.0%	0.0%	3.7%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	2.5%	6.2%	7.8%	19.4%	26.1%	9.3%	0.5%	2.8%
Return on invested capital	2.0%	3.2%	14.3%	17.1%	19.8%	8.0%	6.5%	5.0%
Return on assets	1.6%	3.8%	6.5%	13.3%	13.4%	2.7%	0.1%	0.7%
Free cash flow yield	-4.9%	-10.0%	0.3%	3.8%	2.4%	52.7%	171.6%	54.9%
Earnings yield	0.8%	1.5%	2.0%	3.7%	2.6%	9.7%	2.1%	5.5%
Enterprise value	₹25.3B	₹27.8B	₹22.8B	₹12.7B	₹18B	₹2.2B	₹1.8B	₹2.1B
Net debt / EBITDA	4.83×	2.39×	0.49×	0.5×	1.1×	3.09×	5.32×	6.63×
Cash conversion cycle (days)	77	47	43	34	39	23	34	37