Company Valuation: Divi's Laboratories Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 9,61,740 11,68,606 7,49,511 9,14,619 15,33,201 17,81,427 - -
Change - 21.51% -35.86% 22.03% 67.63% 16.19% - -
Enterprise Value (EV) 1 9,40,228 11,40,454 7,07,412 8,74,849 14,96,091 17,47,594 17,44,734 17,35,266
Change - 21.3% -37.97% 23.67% 71.01% 16.81% -0.16% -0.54%
P/E ratio 48.5x 39.5x 41.1x 57.2x 70x 69.5x 57.7x 47.4x
PBR 10.4x 9.96x 5.87x 6.74x 10.3x 10.8x 9.59x 8.38x
PEG - 0.8x -1.1x -4.7x 1.9x 4.1x 2.8x 2.2x
Capitalization / Revenue 13.8x 13x 9.65x 11.7x 16.4x 16.7x 14.4x 12.2x
EV / Revenue 13.5x 12.7x 9.11x 11.2x 16x 16.4x 14.1x 11.9x
EV / EBITDA 32.9x 29.4x 29.9x 39.7x 50.4x 49.9x 41x 33.3x
EV / EBIT 36.1x 31.9x 34.9x 47.9x 58.3x 57.3x 46.4x 37.2x
EV / FCF 90.7x 95.1x 35.6x 339x 696x 182x 139x 99x
FCF Yield 1.1% 1.05% 2.81% 0.29% 0.14% 0.55% 0.72% 1.01%
Dividend per Share 2 20 30 30 30 30 33.84 37.16 41.37
Rate of return 0.55% 0.68% 1.06% 0.87% 0.52% 0.5% 0.55% 0.62%
EPS 2 74.75 111.5 68.69 60.27 82.53 96.59 116.4 141.6
Distribution rate 26.8% 26.9% 43.7% 49.8% 36.4% 35% 31.9% 29.2%
Net sales 1 69,694 89,598 77,675 78,450 93,600 1,06,459 1,23,623 1,45,638
EBITDA 1 28,599 38,819 23,678 22,050 29,680 35,011 42,547 52,140
EBIT 1 26,044 35,704 20,246 18,270 25,660 30,509 37,569 46,634
Net income 1 19,843 29,604 18,234 16,000 21,910 25,581 30,918 37,617
Net Debt 1 -21,512 -28,152 -42,098 -39,770 -37,110 -33,833 -36,693 -46,161
Reference price 2 3,622.80 4,402.05 2,823.35 3,445.30 5,775.45 6,710.50 6,710.50 6,710.50
Nbr of stocks (in thousands) 2,65,469 2,65,469 2,65,469 2,65,469 2,65,469 2,65,469 - -
Announcement Date 29/05/21 23/05/22 20/05/23 25/05/24 17/05/25 - - -
1INR in Million2INR
Estimates

P/E ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
69.47x16.42x49.91x0.5% 1.89TCr
27.83x10.14x20.87x0.72% 85TCr
23.65x5.46x14.84x2.41% 53TCr
24.57x6.11x12.43x3.41% 36TCr
16.67x4.18x10.31x3.18% 32TCr
22.87x4.76x13.54x1.83% 28TCr
20.12x5.43x13.2x3.09% 28TCr
49.69x4.64x17.34x2.99% 28TCr
13.18x4.82x9.89x3.84% 20TCr
21.33x5.83x10.12x3.04% 18TCr
Average 28.94x 6.78x 17.25x 2.5% 32.95TCr
Weighted average by Cap. 25.44x 6.52x 15.28x 2.33%

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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