Company Valuation: Cipla Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 8,21,377 7,26,839 12,08,588 11,64,745 9,88,887 11,52,489 - -
Change - -11.51% 66.28% -3.63% -15.1% 16.54% - -
Enterprise Value (EV) 1 8,10,334 7,16,397 11,54,239 10,84,736 9,01,599 10,53,737 10,27,457 10,10,390
Change - -11.59% 61.12% -6.02% -16.88% 16.87% -2.49% -1.66%
P/E 32.7x 26x 29.3x 22.1x 25.5x 27.4x 22.4x 19.9x
PBR 3.94x 3.11x 4.53x 3.73x 2.87x 3.06x 2.77x 2.51x
PEG - 2.3x 0.6x 0.8x -1x 3.28x 1x 1.6x
Capitalization / Revenue 3.77x 3.19x 4.69x 4.23x 3.51x 3.71x 3.32x 3.04x
EV / Revenue 3.72x 3.15x 4.48x 3.94x 3.2x 3.39x 2.96x 2.67x
EV / EBITDA 17.8x 14.3x 18.3x 15.2x 15.3x 17.4x 13.9x 12.2x
EV / EBIT 23.1x 18.6x 22x 18x 19.3x 22x 17.1x 14.9x
EV / FCF 29.1x 29.9x 38x 28.2x 38.5x 35x 28.4x 26.9x
FCF Yield 3.43% 3.35% 2.63% 3.54% 2.6% 2.86% 3.52% 3.71%
Dividend per Share 2 5 8.5 13 13 13 12.26 13.85 13.23
Rate of return 0.49% 0.94% 0.87% 0.9% 1.06% 0.86% 0.97% 0.93%
EPS 2 31.17 34.69 51.01 65.24 48 52.01 63.64 71.8
Distribution rate 16% 24.5% 25.5% 19.9% 27.1% 23.6% 21.8% 18.4%
Net sales 1 2,17,633 2,27,531 2,57,741 2,75,476 2,81,626 3,10,682 3,46,683 3,78,696
EBITDA 1 45,528 50,270 62,910 71,279 58,829 60,717 73,901 82,827
EBIT 1 35,008 38,549 52,400 60,210 46,719 47,873 60,040 67,998
Net income 1 25,168 28,019 41,216 52,725 38,792 42,007 51,552 57,741
Net Debt 1 -11,043 -10,443 -54,350 -80,010 -87,289 -98,752 -1,25,032 -1,42,099
Reference price 2 1,018.05 900.50 1,496.95 1,442.20 1,224.20 1,426.70 1,426.70 1,426.70
Nbr of stocks (in thousands) 8,06,814 8,07,151 8,07,367 8,07,617 8,07,783 8,07,801 - -
Announcement Date 10/05/22 12/05/23 10/05/24 13/05/25 13/05/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
27.68x3.42x17.52x0.85% 1.22TCr
35.34x6.68x23.09x0.82% 4.87TCr
18.59x2.09x9.88x1.3% 3.64TCr
27.28x4.02x16.36x0.58% 1.2TCr
19.11x3.34x11.99x3.48% 904.09Cr
8.44x1.99x5.2x5.13% 709.46Cr
16.21x2.08x7.01x3.23% 706.36Cr
34.65x3.95x16.81x0.23% 675.48Cr
39.94x7.65x28.36x0.99% 438.48Cr
Average 25.25x 3.91x 15.14x 1.85% 1.6TCr
Weighted average by Cap. 26.59x 4.25x 16.20x 1.4%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  3. CIPLA Stock
  4. Valuation Cipla Limited