Valuation · at the close on 16 Oct 2026

Flying Cement Company Limited (FLYNG) valuation

At Rs 32.67 (close on 16 Oct 2026) FLYNG trades at 25.6× earnings (TTM to Mar 2026), below its five-year average of 49.9× and above the Cement median of 7.9×. The shares are priced at 1.76× book value (sector median 1.31×). Enterprise value of Rs 27.4 bn is 12.7× EBITDA.

P/E · today

25.6×

TTM to Mar 2026

5-yr average49.9× Sector median7.9×

P/B · today

1.76×

Quarter to Mar 2026

5-yr average1.06× Sector median1.31×

EV/EBITDA · today

12.7×

5-yr average25.1× Sector median5.0×

Dividend yield · today

0.0%

FY2025

5-yr average0.0% Payers' median2.0%

Market value Rs 22.7 bn at Rs 32.67. Sector medians use the latest close of 19 Cement companies; P/E and P/B only where earnings / book value are positive; the yield median covers dividend payers only. Not investment advice.

Valuation history

At each fiscal year-end price.

5 10 All

FLYNG valuation history (annual) (Rs bn)

Rs bn	FY2025 Jul 2024 – Jun 2025	FY2024 Jul 2023 – Jun 2024	FY2023 Jul 2022 – Jun 2023	FY2022 Jul 2021 – Jun 2022	FY2021 Jul 2020 – Jun 2021	FY2020 Jul 2019 – Jun 2020	FY2019 Jul 2018 – Jun 2019	FY2018 Jul 2017 – Jun 2018	FY2017 Jul 2016 – Jun 2017	FY2016 Jul 2015 – Jun 2016	FY2015 Jul 2014 – Jun 2015	FY2014 Jul 2013 – Jun 2014	FY2013 Jul 2012 – Jun 2013	FY2012 Jul 2011 – Jun 2012	FY2011 Jul 2010 – Jun 2011	FY2010 Jul 2009 – Jun 2010	FY2009 Jul 2008 – Jun 2009	FY2008 Jul 2007 – Jun 2008	FY2007 Jul 2006 – Jun 2007	FY2006 Jul 2005 – Jun 2006
Market capitalisation	39.5	5.8	3.8	5.0	8.0	1.6	2.4	3.0	3.3	1.5	1.9	1.1	0.8	0.5	0.2	0.4	0.4	1.3	2.6	—
Enterprise value	44.1	11.9	10.1	10.1	14.0	6.9	4.9	4.9	4.4	1.9	2.3	1.8	1.6	1.3	1.1	1.1	1.1	1.7	2.7	—
Share price (period end) Rs	56.82	8.32	5.54	7.18	18.79	6.36	9.53	12.06	13.26	5.96	7.78	4.29	3.10	1.90	0.91	1.44	1.74	5.05	10.55	—
P/E (diluted)	61.83×	112.36×	14.19×	5.39×	55.69×	—	16.76×	16.64×	20.58×	10.24×	16.63×	10.70×	69.81×	16.68×	—	—	—	—	144.19×	—
Price to book	3.20×	0.47×	0.31×	0.42×	0.89×	0.20×	0.29×	0.56×	0.89×	0.42×	0.57×	0.32×	0.24×	0.15×	0.07×	0.11×	0.13×	0.35×	0.63×	—
Price to sales	3.52×	1.28×	0.91×	0.93×	2.50×	1.48×	0.73×	1.04×	1.34×	0.60×	0.88×	0.52×	0.92×	0.36×	0.31×	4.48×	0.66×	7.99×	2.04×	—
EV / EBITDA	32.27×	33.69×	16.31×	11.28×	38.95×	—	23.69×	17.68×	18.80×	9.07×	13.55×	10.67×	22.20×	—	—	—	—	—	11.37×	—
EV / Sales	3.94×	2.64×	2.37×	1.88×	4.37×	6.43×	1.51×	1.69×	1.80×	0.78×	1.03×	0.86×	1.86×	0.99×	1.58×	13.90×	1.61×	10.88×	2.32×	—
Dividend yield (gross)	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	—
Free cash flow yield	4.8%	1.1%	(29.6%)	(23.6%)	(16.8%)	(203.6%)	(28.4%)	(74.8%)	(21.4%)	(7.7%)	19.1%	7.4%	9.7%	17.9%	(79.7%)	(36.6%)	(23.8%)	(46.7%)	(5.8%)	—
PEG ratio	0.05×	(1.39×)	(0.20×)	0.02×	0.48×	—	(0.78×)	1.33×	1.93×	0.42×	1.00×	0.01×	(1.14×)	0.14×	—	—	—	—	(1.53×)	—
P/E (diluted, normalised)	61.83×	112.36×	14.19×	5.39×	55.69×	—	16.76×	16.64×	20.58×	10.24×	16.63×	10.70×	69.81×	16.68×	—	—	—	—	144.19×	—
Price to book — 5-year average	1.06×	0.43×	0.39×	0.43×	0.49×	0.41×	0.50×	0.56×	0.50×	0.34×	0.28×	0.18×	0.14×	0.16×	0.28×	—	—	—	—	—
EV / EBITDA — 5-year average	25.13×	28.94×	27.30×	30.35×	50.96×	42.59×	16.78×	14.45×	14.04×	16.88×	35.62×	218.64×	—	—	—	—	—	—	—	—
Dividend yield — 5-year average	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	—	—	—	—	—

FLYNG valuation: frequently asked questions

What is FLYNG's P/E ratio? +

At the closing price of Rs 32.67 on 16 Oct 2026, FLYNG trades at a P/E of 25.6× based on EPS of Rs 1.28 (TTM to Mar 2026).

What is FLYNG's book value per share? +

Flying Cement Company Limited's book value per share was Rs 17.74 at the end of FY2025. The shares trade at 1.76× book value.

Information only, not investment advice.