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Fine-Line Circuits Limited (517264) Fair Value & Analysis

Other · IN · Market cap ₹129M

FL Fine-Line Circuits Limited 517264 · BSE
Price₹62.79
Fair Value₹51.49
Upside-18.0%
Quality48/100
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Expensive Growth
Loss-making · -0.4% net margin
Low debt · negative free cash flow
Trails peers (3/11)
Narrow moat 11/100
Evidence: High Range ₹38.14 – ₹63.89 Share as image

Fair value as of: Aug 13, 2026

From 16 valuation models · updated 5 days ago

Fair value updated Aug 13, 2026, revised from ₹51.41 to ₹51.49 (+0.2%) since Aug 9, 2026.

Below-average quality, and screening another 18% overvalued on our models.

What matters now

  • Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder.
  • Our model range runs from ₹38.14 (bear) to ₹63.89 (bull), base ₹51.49. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 48/100 (below-average quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

₹110.15 ₹16.65 Fair Value ₹51.49 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹16.65 – ₹110.15 · fair‑value band ₹38.14 – ₹63.89 · the ₹62.79 price screens above the ₹51.49 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Fine-Line Circuits Limited (517264) currently trades at ₹62.79, while our model-based Fair Value estimate is ₹51.49, implying the stock looks roughly 18.0% overvalued today. The Quality Score stands at 48/100 (below-average quality), in the Other sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Fine-Line Circuits Limited generated revenue of ₹248M at a net margin of -0.4%. Revenue grew 15.6% year over year. It earns a return on equity of -1.2%. Net debt stands at ₹67.1M. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹38.14 (bear case) to ₹63.89 (bull case); at ₹62.79, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 39% below its 52-week high and 30% above its 52-week low. For context, the median of 10 Other peers we cover trades at -24% fair-value upside, at -18%, 517264 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income ₹1,092 ₹980.22 ₹551.13 76
ROIC Compounder ₹631.23 ₹750.42 ₹847.68 72
Gordon GGM ₹38.14 ₹64.84 ₹83.91 70
All 16 models by family
Earnings-Based
Graham-Dodd ₹20.02 ₹59.12 ₹78.19 54
Lynch FV ₹12.40 ₹17.16 ₹22.88 50
PEG = 1.0 ₹12.40 ₹17.16 ₹22.88 46
EPV ₹631.23 ₹750.42 ₹847.68 59
Dividend Discount
Gordon GGM ₹38.14 ₹64.84 ₹83.91 70
DDM Multi-Stage ₹38.14 ₹56.26 ₹69.61 61
Multiples
P/E Multiple ₹38.14 ₹51.49 ₹63.89 63
P/S Multiple ₹38.14 ₹51.49 ₹63.89 58
P/B Multiple ₹38.14 ₹51.49 ₹63.89 55
EV/EBIT ₹1,262 ₹1,806 ₹2,349 53
EV/EBITDA ₹1,925 ₹2,689 ₹3,453 54
EV/Revenue ₹1,045 ₹1,651 ₹2,256 43
Asset-Based
NCAV (Graham) ₹905.84 ₹1,214 ₹1,812 50
Economic Profit
Residual Income ₹1,092 ₹980.22 ₹551.13 76
ROIC Compounder ₹631.23 ₹750.42 ₹847.68 72
Growth Earnings
Growth-Adj P/E ₹31.47 ₹45.77 ₹59.12 68

Widest divergence: Asset-Based (₹1,214) versus Earnings-Based (₹17.16). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) ₹248M
Revenue growth (YoY) +15.6%
Net margin -0.4%
Return on equity -1.2%
Free cash flow −₹14.5M FY2026
P/E ratio 133.5 as of Jul 4, 2026
More key figures
Operating margin -0.3%
EPS (TTM) ₹0.1900
EPS growth (YoY) +250%
Net debt ₹67.1M FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 48/100

Of which business quality 50 · Market factors (momentum, volatility) 28

Profitability 50
Margins and returns on capital today
Quality Growth 28
Are margins and returns improving?
Cashflow 29
Earnings quality: real cash, not paper profit
Fin. Strength 47
Balance sheet, leverage, solvency risk
Investment 82
Disciplined investing over empire-building
Low Volatility 60
Calm price path (market factor)
Momentum 8
Price trend over the last 3–12 months (market factor)
52W Momentum 26
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Fine-Line Circuits Limited manufactures and sells printed circuit boards (PCBs) in India. Its products include on-board, high frequency microwave hybrid, cavity, flex and rigid flex, multilayer, oversized/backplane, high copper, impedance controlled blind/buried, and embedded passive component PCBs. The company also exports its products.

Full company description

Fine-Line Circuits Limited manufactures and sells printed circuit boards (PCBs) in India. Its products include on-board, high frequency microwave hybrid, cavity, flex and rigid flex, multilayer, oversized/backplane, high copper, impedance controlled blind/buried, and embedded passive component PCBs. The company also exports its products. Fine-Line Circuits Limited was incorporated in 1989 and is headquartered in Mumbai, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Fine-Line Circuits Limited reported revenue of ₹332M in FY2026 versus ₹301M in FY2022, a compound +2.5%/yr. Reported net income was ₹152K in FY2026, compounding −63.7%/yr from FY2022.

Growth Quality 44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹332M
Latest YoY
+9.2%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+6.5%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+7.9%
Avg. growth/yr (12Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+2.4%
Revenue +2.5%/yr
FY22 ₹301M
FY23 ₹275M
FY24 ₹243M
FY25 ₹304M
FY26 ₹332M
Net income −63.7%/yr
FY22 ₹8.8M
FY23 ₹717K
FY24 ₹1.1M
FY25 ₹2.0M
FY26 ₹152K

517264 screens 18% overvalued. Compare with Federal Home Loan Mortgage Corporation →

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Cite: Fair Value Calculator (2026). "Fine-Line Circuits Limited Fair Value". https://www.fairvalue-calculator.com/stock/517264

Peer Group

Other · 373 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 48 · Below median
Fair Value upside −18% · Above median
Return on assets -0% · Bottom 25%
Net margin (TTM) -0% · Bottom 25%
Operating margin (TTM) -0% · Bottom 25%
Revenue growth 16% · Top 25%
Dividend yield (TTM) 0.2% · Below median
Debt / equity 0.29× · Higher than 75% of peers

Valuation Multiples vs Other median · lower = cheaper

P/E (TTM) 133.5× · Pricier than 75% of peers
EV/EBITDA 3.0× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 9 · sector 9
FUTURE 78 · sector 0
PAST 0 · sector 0
HEALTH 86 · sector 97
DIVIDEND 4 · sector 31

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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540376 540376 ₹4,054 ₹1,542 -62%
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Lupin Limited 500257 ₹2,265 ₹1,983 -12%
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Frequently asked questions

Is Fine-Line Circuits Limited (517264) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹51.49 versus a price of ₹62.79, about −18% (overvalued).
What is the fair value of 517264?
Our model-based fair value for Fine-Line Circuits Limited is ₹51.49 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹62.79.
What is the quality score of 517264?
Fine-Line Circuits Limited has a Quality Score of 48/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Fine-Line Circuits Limited (517264)?
Fine-Line Circuits Limited reported trailing-twelve-month revenue of about ₹248M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 517264?
The net profit margin of Fine-Line Circuits Limited is about -0.4%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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