*40 or lower – Avoid Investment
(When one or multiple of the following apply: High valuations, Poor financial performance, High leverage, Promoter issue or Weak sector outlook)
41 to 45 – Risky
(When one or multiple of the following apply: High valuations, High leverage, Weak sector outlook, High impact of macro factors or thin margins)
46 to 50 – Invest with limited exposure
(When one or multiple of the following apply: High Company/ vs Industry valuation, Low visibility on company’s future performance, Lack of benchmarks to compare and Moderate industry outlook)
51 to 55 – Investment recommended
(When one or multiple of the following apply: Attractive valuation, Robust financial performance, Positive industry outlook and Confidence in management)
56 & above – Excellent Investment
(When one or multiple of the following apply: Very attractive valuation, Robust financial performance, Expected to benefit from industry tailwinds, Buoyant industry outlook and Strong management track record)