Dhanvantri Jeevan Rekha Limited (ZDHJERK.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

+204.0%

₹63.54

vs ₹20.90 price

Levered DCF

₹50.29

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

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	FY2020	FY2019
P/E	27.4×	16.39×	58.2×	-24.53×	13.92×	-2.15×	-8.45×	138.18×
P/B	1.04×	0.82×	1.01×	0.57×	0.72×	0.34×	0.21×	0.6×
P/S	0.42×	0.37×	0.47×	0.3×	0.41×	0.31×	0.12×	0.38×
EV / EBITDA	6.75×	5.11×	5.84×	5.5×	2.98×	-3.86×	1.3×	4.88×
Gross margin	74.1%	76.2%	43.2%	41.9%	43.2%	34.4%	81.6%	86.6%
Operating margin	0.3%	0.7%	-0.2%	-2.1%	2.8%	-18.3%	61.7%	64.2%
Net margin	1.5%	2.3%	0.8%	-1.2%	2.9%	-14.6%	-1.5%	0.3%
Current ratio	1.16×	1.5×	1.3×	1.24×	1.21×	0.81×	0.91×	0.8×
Debt / equity	0×	0×	0×	0×	0×	0.01×	0.01×	0.01×
Interest coverage	8×	16×	-5.83×	-37.54×	29.12×	-84.59×	1,005.56×	136.08×
Dividend yield	0.0%	0.0%	0.0%	0.0%	1.3%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	17.9%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	3.8%	5.0%	1.7%	-2.3%	5.1%	-15.8%	-2.5%	0.4%
Return on invested capital	0.7%	1.2%	-0.2%	-3.4%	3.1%	-14.1%	80.6%	36.4%
Return on assets	2.3%	3.5%	1.1%	-1.6%	3.4%	-10.3%	-1.8%	0.3%
Free cash flow yield	8.0%	-13.6%	21.5%	-19.4%	13.1%	-14.0%	51.9%	13.2%
Earnings yield	3.7%	6.1%	1.7%	-4.1%	7.2%	-46.5%	-11.8%	0.7%
Enterprise value	₹74.3M	₹57.9M	₹65.6M	₹44.6M	₹50.4M	₹22.3M	₹10.3M	₹64.6M
Net debt / EBITDA	-3.21×	-2.24×	-2.65×	-1.05×	-1.07×	1.45×	-1.52×	-0.01×
Cash conversion cycle (days)	-6	-17	10	41	26	45	21	40