Company Valuation: Black Rose Industries Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2020 2021 2022 2023 2024 2025
Market Cap 1 3,884 8,866 9,976 5,419 6,237 4,557
Change - 128.3% 12.51% -45.68% 15.11% -26.94%
Enterprise Value (EV) 1 4,082 9,002 10,028 5,324 6,031 4,642
Change - 120.51% 11.4% -46.91% 13.27% -23.03%
P/E Ratio 18.8x 32.3x 31.3x 68.5x 29.4x 21.8x
PBR 5.76x 9.54x 8.15x 4.26x 4.3x 2.98x
PEG - 1x 1.9x -0.9x 0x -17.05x
Capitalization / Revenue 1.04x 2.33x 2.04x 1.26x 1.64x 1.16x
EV / Revenue 1.1x 2.37x 2.06x 1.24x 1.59x 1.19x
EV / EBITDA 12.6x 22.7x 22.2x 38.8x 21.6x 16x
EV / EBIT 13.5x 24.2x 23.4x 48.6x 24.1x 17.8x
EV / FCF 54x 278x 212x 45.2x 60x -21.1x
FCF Yield 1.85% 0.36% 0.47% 2.21% 1.67% -4.74%
Dividend per Share 2 0.35 0.45 0.55 0.55 0.55 1.05
Rate of return 0.46% 0.26% 0.28% 0.52% 0.45% 1.18%
EPS 2 4.05 5.38 6.25 1.55 4.16 4.107
Distribution rate 8.64% 8.36% 8.8% 35.5% 13.2% 25.6%
Net sales 1 3,726 3,798 4,879 4,304 3,804 3,912
EBITDA 1 323.5 395.7 451.8 137.4 278.8 290.1
EBIT 1 302.3 372.7 428 109.6 250.7 260.8
Net income 1 206.7 274.4 319 79.19 212.3 209.4
Net Debt 1 198.6 135.6 52.75 -94.46 -206.6 85.26
Reference price 2 76.15 173.85 195.60 106.25 122.30 89.35
Nbr of stocks (in thousands) 51,000 51,000 51,000 51,000 51,000 51,000
Announcement Date 07/09/20 07/09/21 07/09/22 07/09/23 31/08/24 05/09/25
1INR in Million2INR
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 4.86Cr
33.26x4.82x19.37x1.1% 7.47TCr
27.49x4.35x18.54x2.32% 3.69TCr
21.68x2.61x13.5x2.47% 3.13TCr
15.33x1.46x9.21x2.06% 2.54TCr
13.21x3.32x7.16x3.05% 2.4TCr
33.45x8x24.69x2.78% 2.05TCr
16.34x3.44x7.48x0.96% 2.01TCr
29.76x3.53x14.2x0.36% 1.32TCr
21.26x2.59x11.86x1.6% 1.31TCr
Average 23.53x 3.79x 14.00x 1.85% 2.59TCr
Weighted average by Cap. 25.35x 3.98x 15.27x 1.82%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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