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Darjeeling Ropeway Company Ltd (DARJEELING) Fair Value & Analysis

Real Estate · IN · Market cap ₹243M

DR Darjeeling Ropeway Company Ltd DARJEELING · BSE
Price₹25.52
Fair Value₹31.22
Upside+22.3%
Quality37/100
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Mixed Growth
Highly profitable · 33.2% net margin
Low debt · negative free cash flow
Ranks above peers (9/13)
Wide moat 73/100
Evidence: High Range ₹23.42 – ₹39.02 Share as image

Fair value as of: Aug 13, 2026

From 9 valuation models · updated 6 days ago

Below-average quality, screening 22% undervalued on our models.

What matters now

  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
  • Our model range runs from ₹23.42 (bear) to ₹39.02 (bull), base ₹31.22. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 37/100 (below-average quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

₹111.40 ₹3.10 Fair Value ₹31.22 Dec 2018 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 ₹3.10 – ₹111.40 · fair‑value band ₹23.42 – ₹39.02 · the ₹25.52 price screens below the ₹31.22 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Darjeeling Ropeway Company Ltd (DARJEELING) currently trades at ₹25.52, while our model-based Fair Value estimate is ₹31.22, implying the stock looks roughly 22.3% undervalued today. The Quality Score stands at 37/100 (below-average quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Darjeeling Ropeway Company Ltd generated revenue of ₹51.1M at a net margin of 33.2%. It earns a return on equity of 16.8%. Net debt stands at ₹40.6M. The stock trades on a trailing P/E of 11.8. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹23.42 (bear case) to ₹39.02 (bull case); at ₹25.52, 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 66% below its 52-week high and 10% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 45% fair-value upside, at 22%, DARJEELING screens richer 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 ₹15.81 ₹17.10 ₹20.32 76
Gordon GGM ₹0.6800 ₹1.13 ₹1.47 70
DDM Multi-Stage ₹0.6800 ₹1.07 ₹1.22 61
All 9 models by family
Dividend Discount
Gordon GGM ₹0.6800 ₹1.13 ₹1.47 70
DDM Multi-Stage ₹0.6800 ₹1.07 ₹1.22 61
Multiples
P/S Multiple ₹27.55 ₹36.73 ₹45.91 58
P/B Multiple ₹27.55 ₹36.73 ₹45.91 55
EV/EBIT ₹36.99 ₹49.15 ₹61.32 53
EV/EBITDA ₹30.78 ₹40.88 ₹50.98 54
EV/Revenue ₹20.61 ₹29.24 ₹37.87 43
Asset-Based
NCAV (Graham) ₹9.84 ₹13.19 ₹19.69 50
Economic Profit
Residual Income ₹15.81 ₹17.10 ₹20.32 76

Widest divergence: Multiples (₹36.73) versus Dividend Discount (₹1.07). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) ₹51.1M
Net margin 33.2%
Return on equity 16.8%
Free cash flow −₹64.5M FY2026
P/E ratio 11.8
Operating margin 21.5%
More key figures
EPS (TTM) ₹2.16
Net debt ₹40.6M FY2024

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

Quality Score breakdown

Overall quality 37/100

Of which business quality 36 · Market factors (momentum, volatility) 23

Profitability 46
Margins and returns on capital today
Quality Growth 80
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 77
Balance sheet, leverage, solvency risk
Investment 0
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 16
Price trend over the last 3–12 months (market factor)
52W Momentum 2
Distance to the 52-week high (market factor)
Net Issuance 0
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

Darjeeling Ropeway Company Limited engages in real estate business in India. The company was incorporated in 1936 and is based in Mumbai, India.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Darjeeling Ropeway Company Ltd reported revenue of ₹44.6M in FY2026 versus ₹0 in FY2022. Reported net income was ₹17.0M in FY2026, compounding +163.9%/yr from FY2022.

Growth Quality 48/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹44.6M
Latest YoY
+390.0%
Avg. growth/yr (7Y) 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.
−1.1%
Revenue
FY22 ₹0
FY23 ₹0
FY24 ₹0
FY25 ₹9.1M
FY26 ₹44.6M
Net income +163.9%/yr
FY22 ₹350K
FY23 −₹25.0K
FY24 −₹410K
FY25 −₹2.7M
FY26 ₹17.0M

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Cite: Fair Value Calculator (2026). "Darjeeling Ropeway Company Ltd Fair Value". https://www.fairvalue-calculator.com/stock/DARJEELING

Peer Group

Real Estate - Development · 592 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 37 · Bottom 25%
Fair Value upside +22% · Above median
Return on equity (TTM) 17% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) 33% · Top 25%
Operating margin (TTM) 21% · Above median
Revenue growth 0% · Above median
Dividend yield (TTM) 0.3% · Bottom 25%

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/E (TTM) 11.8× · Cheaper than median
P/B 1.57× · Pricier than 75% of peers
P/S (TTM) 4.75× · Pricier than 75% of peers
EV/EBITDA 9.5× · 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE63 · sector 48
FUTURE0 · sector 0
PAST67 · sector 9
HEALTH100 · sector 85
DIVIDEND6 · sector 55

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.

Similar stocks

10 more Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
DLF Limited DLF ₹667.10 ₹170.24 -74%
Lodha Developers Limited LODHA ₹1,209 ₹583.43 -52%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,050 IDR 1,330 IDR -78%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 610.00 IDR 1,525 IDR +150%
PT Sentul City Tbk, BKSL 77.00 IDR 192.50 IDR +150%
PT Ciputra Development Tbk, CTRA 610.00 IDR 1,525 IDR +150%
PT Duta Pertiwi Tbk DUTI 4,300 IDR 6,239 IDR +45%
PT Puradelta Lestari Tbk DMAS 147.00 IDR 164.33 IDR +12%
Phat Dat Real Estate Development Corporation PDR 12,100 VND 4,943 VND -59%

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Frequently asked questions

Is Darjeeling Ropeway Company Ltd (DARJEELING) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹31.22 versus a price of ₹25.52, about +22% (undervalued).
What is the fair value of DARJEELING?
Our model-based fair value for Darjeeling Ropeway Company Ltd is ₹31.22 (as of Aug 13, 2026), built from audited fundamentals. The current price: ₹25.52.
What is the quality score of DARJEELING?
Darjeeling Ropeway Company Ltd has a Quality Score of 37/100. 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 Darjeeling Ropeway Company Ltd (DARJEELING)?
Darjeeling Ropeway Company Ltd reported trailing-twelve-month revenue of about ₹51.1M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of DARJEELING?
The net profit margin of Darjeeling Ropeway Company Ltd is about 33.2%, meaning it keeps roughly 33.2% of revenue as net income. 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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