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UCAL Limited (UCAL) Fair Value & Analysis

Consumer Cyclical · IN · Market cap ₹3.2B (≈ $33.7M) · ISIN INE139B01016

What is UCAL Limited really worth?

UL UCAL Limited UCAL · BSE
Price₹148.95
Fair Value₹32.43
Upside−78.2%
Quality60/100

A solid business, but trading 359% above our fair value of ₹32.43.

As of Aug 27, 2026, the fair value of UCAL Limited is ₹32.43 per share against a price of ₹148.95, so the fair value sits 78% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Low debt · generates free cash flow

Risks

!Weak Growth (revenue 3y +0.7 %/yr)
!Loss-making · -2.5% net margin
!Narrow moat 21/100
!Evidence only medium, so the estimate is less certain
Evidence: Medium Range ₹32.43 – ₹60.58

Fair value as of: Aug 27, 2026

From 13 valuation models · updated 10 days ago

Share price +25.9% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (₹60.58). The favourable scenario is already priced in.
  • Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (₹32.43 to ₹60.58) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

₹234.90 ₹81.10 Fair Value ₹32.43 May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 27, 2026.

How to read this chart

60‑month range ₹81.10 – ₹234.90 · fair‑value band ₹32.43 – ₹60.58 · the ₹148.95 price screens above the ₹32.43 fair value. Dashed = 300-day average. As of Aug 27, 2026.

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Analysis

UCAL Limited (UCAL) currently trades at ₹148.95, while our model-based Fair Value estimate is ₹32.43, implying the stock looks roughly 359.3% overvalued today. The Quality Score stands at 60/100 (solid quality), in the Consumer Cyclical sector. Bull case: the Growth DCF group reads highest at a median of ₹251.77 per share, and 8 of the 13 models we run sit above the ₹148.95 price. Bear case: the Earnings-Based group reads lowest at ₹10.45, and 5 of the 13 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, UCAL Limited generated revenue of ₹8.5B at a net margin of −2.5%. Revenue grew 4.4% year over year. It earns a return on equity of −9.8%. Net debt stands at ₹1.8B. Fundamentals as of Aug 27, 2026

Our scenario range runs from ₹32.43 (bear case) to ₹60.58 (bull case); at ₹148.95, the current price sits above 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 7% below its 52-week high and 89% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at −38% fair-value upside, at −78%, UCAL screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
FCF DCF ₹504.89 ₹725.36 ₹1,024 77
Growth DCF ₹519.59 ₹724.33 ₹990.30 76
5Y EBITDA Exit ₹276.69 ₹379.31 ₹488.93 73
All 13 models by family
DCF Models
FCF DCF ₹504.89 ₹725.36 ₹1,024 77
5Y Revenue Exit ₹198.26 ₹240.66 ₹285.62 71
5Y EBITDA Exit ₹276.69 ₹379.31 ₹488.93 73
10Y Revenue Exit ₹311.32 ₹370.33 ₹431.60 65
10Y EBITDA Exit ₹360.69 ₹461.66 ₹575.62 67
Earnings-Based
EPV ₹3.36 ₹10.45 ₹16.57 65
Multiples
EV/EBIT ₹42.88 ₹71.02 ₹99.16 64
EV/EBITDA ₹163.92 ₹232.42 ₹300.91 67
EV/Revenue ₹15.36 ₹39.75 ₹64.14 50
Asset-Based
NCAV (Graham) ₹73.75 ₹98.82 ₹147.49 54
Growth DCF
Growth DCF ₹519.59 ₹724.33 ₹990.30 76
Rev-Margin DCF ₹198.26 ₹251.77 ₹313.59 71
Economic Profit
ROIC Compounder ₹3.36 ₹10.45 ₹16.57 65

Widest divergence: DCF Models (₹379.31) versus Earnings-Based (₹10.45). Highest evidence: FCF DCF (77).

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Key figures & financial health

P/S ratio 0.38 TTM
EPS (TTM) ₹−9.71
Dividend yield 1.4%
Net margin −4.0% FY2026
Return on equity −9.8% TTM
Return on assets (EBIT) 1.8% avg 5y
More key figures
Profitability
Operating margin 6.5% TTM
Growth
Revenue (TTM) ₹8.5B TTM
Revenue growth (YoY) +4.4% 3y avg +0.7%
Balance sheet & cash flow
Free cash flow ₹1.2B FY2026
Net debt ₹1.8B FY2026 · ≈ 1.5 yrs of FCF

Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 60/100

Of which business quality 60 · Market factors (momentum, volatility) 66

Profitability 39
Margins and returns on capital today
Quality Growth 48
Are margins and returns improving?
Cashflow 73
Earnings quality: real cash, not paper profit
Fin. Strength 40
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 60
Calm price path (market factor)
Momentum 71
Price trend over the last 3–12 months (market factor)
52W Momentum 66
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

UCAL Limited engages in the provision of fuel management systems for the automotive sector in India. The company offers fuel systems and emission controls, including mechanical carburetor, fuel injection systems, hydrocarbon doser, fuel rails, air suction valve, electric air suction valve, and electric purge valve; and automotive electronics, such as ECU, …

Full company description

UCAL Limited engages in the provision of fuel management systems for the automotive sector in India. The company offers fuel systems and emission controls, including mechanical carburetor, fuel injection systems, hydrocarbon doser, fuel rails, air suction valve, electric air suction valve, and electric purge valve; and automotive electronics, such as ECU, fuel level sensor, DC DC converters, integrated sensor, CR controller, RR Unit, flasher, throttle position sensor, timers, relays and controllers, buzzer/hooter, ECU speed module, and reverse speed module. It also provides pumps and valves comprising oil pump, variable pressure oil pump, variable displacement oil pump, vacuum pump, mechanical throttle body assembly, electric-vacuum pump, electric-coolant pump, electric-throttle body, water outlet, variable valve timing, and intake throttle valve; and pressure die casting products and precision machined parts for automotive applications. In addition, the company offers engineering services, which include analysis and benchmarking; design, drawing, and modelling; computational analysis and simulation; testing and validation; design for manufacturing; system calibration; and value addition/value engineering services. The company sells its products under the UCAL brand. It also exports its products. The company was formerly known as UCAL Fuel Systems Limited and changed its name to UCAL Limited in June 2023. UCAL Limited was incorporated in 1985 and is based in Chennai, India.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

UCAL Limited reported revenue of ₹8.4B in FY2026 versus ₹7.7B in FY2022, a compound +2.0%/yr. Reported net income was −₹333M in FY2026.

Growth Quality 35/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2026)
₹8.4B
Latest YoY
+4.4%
Avg. revenue 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.
+0.7%
EBIT margin (trend) Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
4.1% (2022) → 1.7% (2026)
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed
Revenue +2.0%/yr
FY22 ₹7.7B
FY23 ₹8.2B
FY24 ₹7.2B
FY25 ₹8.0B
FY26 ₹8.4B
Net income
FY22 ₹349M
FY23 ₹8.5M
FY24 −₹253M
FY25 −₹163M
FY26 −₹333M

UCAL screens 359% overvalued. Compare with O'Reilly Automotive, Inc →

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Cite: Fair Value Calculator (2026). "UCAL Limited Fair Value". https://www.fairvalue-calculator.com/stock/UCAL.BSE

Peer Group

Auto Parts · 641 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 60 · Above median
Fair Value upside −78% · Bottom 25%
Return on assets 1% · Bottom 25%
Net margin (TTM) −3% · Bottom 25%
Operating margin (TTM) 6% · Above median
Revenue growth 4% · Above median
Dividend yield (TTM) 1.4% · Below median
Debt / equity 0.31× · Higher than 75% of peers

Valuation Multiples vs Auto Parts median · lower = cheaper

P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 1.5× · Cheaper than 75% of peers

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

Similar stocks

10 more Auto Parts stocks, each showing price versus our Fair Value estimate (as of Aug 27, 2026).

Stock Price Fair Value vs Fair Value
O'Reilly Automotive, Inc ORLY $88.50 $47.50 −46%
AutoZone, Inc AZO $2,983 $2,287 −23%
Hyundai Mobis Co 012330 450,500 KRW 643,909 KRW +43%
Fuyao Glass Industry Group 600660 ¥57.67 ¥84.47 +46%
Samvardhana Motherson International Limited MOTHERSON ₹165.30 ₹80.63 −51%
Magna International Inc MGA $65.57 $68.17 +4%
Genuine Parts Company GPC $137.51 $58.07 −58%
Bosch Limited BOSCHLTD ₹48,700 ₹11,534 −76%
Ningbo Tuopu Group 601689 ¥45.82 ¥28.28 −38%
Bharat Forge Limited BHARATFORG ₹2,063 ₹393.20 −81%

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Frequently asked questions

Is UCAL Limited (UCAL) overvalued or undervalued?
As of Aug 27, 2026, our model estimates a fair value of ₹32.43 versus a price of ₹148.95, about −78% upside (overvalued).
What is the fair value of UCAL?
Our model-based fair value for UCAL Limited is ₹32.43 (as of Aug 27, 2026), built from audited fundamentals. The current price: ₹148.95.
What is the quality score of UCAL?
UCAL Limited has a Quality Score of 60/100. 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 price target for UCAL Limited (UCAL)?
Our model-based price target is the fair value of ₹32.43 (as of Aug 27, 2026) from 13 valuation models. Cautious scenario ₹32.43, optimistic scenario ₹60.58. It is a calculation from audited fundamentals, not an analyst target.
What is the UCAL Limited stock forecast for 2026?
Our models put fair value at ₹32.43, about −78% upside versus a price of ₹148.95 (overvalued). Cautious scenario ₹32.43, optimistic scenario ₹60.58. The calculation is refreshed regularly with new filings.
What is the revenue of UCAL Limited (UCAL)?
UCAL Limited reported trailing-twelve-month revenue of about ₹8.5B (latest available figure, as of Aug 27, 2026).
What is the net profit margin of UCAL?
The net profit margin of UCAL Limited is about −2.5%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does UCAL Limited pay a dividend?
UCAL Limited currently shows a dividend yield of about 1.39% relative to its recent price (as of Aug 27, 2026).
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