Valuation · at the close on 16 Oct 2026

Mughal Energy Limited(GEM) (GEMMEL) valuation

At Rs 37.25 (close on 16 Oct 2026) GEMMEL trades at 745.0× earnings (FY2026), above the Power Generation & Distribution median of 8.7×. The shares are priced at 1.79× book value (sector median 0.66×).

P/E · today

745.0×

FY2026

5-yr average— Sector median8.7×

P/B · today

1.79×

FY2026

5-yr average— Sector median0.66×

EV/EBITDA · today

—

5-yr average— Sector median10.2×

Dividend yield · today

0.0%

FY2026

5-yr average— Payers' median10.3%

Market value Rs 7.2 bn at Rs 37.25. Sector medians use the latest close of 16 Power Generation & Distribution 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 7

GEMMEL valuation history (annual) (Rs bn)

Rs bn	FY2026 Jul 2025 – Jun 2026	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
Market capitalisation	4.4	4.3	4.3	—	—	—	—
Enterprise value	12.0	7.9	5.7	—	—	—	—
Share price (period end) Rs	22.48	22.00	22.09	—	—	—	—
P/E (diluted)	449.60×	—	—	—	—	—	—
Price to book	1.08×	1.24×	1.24×	—	—	—	—
Dividend yield (gross)	0.0%	0.0%	0.0%	—	—	—	—
Free cash flow yield	(95.6%)	(52.2%)	(37.3%)	—	—	—	—
PEG ratio	3.18×	—	—	—	—	—	—
P/E (diluted, normalised)	449.60×	—	—	—	—	—	—

GEMMEL valuation: frequently asked questions

What is GEMMEL's P/E ratio? +

At the closing price of Rs 37.25 on 16 Oct 2026, GEMMEL trades at a P/E of 745.0× based on EPS of Rs 0.05 (FY2026).

What is GEMMEL's book value per share? +

Mughal Energy Limited(GEM)'s book value per share was Rs 20.84 at the end of FY2026. The shares trade at 1.79× book value.

Information only, not investment advice.