Company Valuation: Ipca Laboratories Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 2,70,385 2,05,589 3,13,934 3,81,038 4,06,231 5,06,673 - -
Change - -23.96% 52.7% 21.38% 6.61% 24.73% - -
Enterprise Value (EV) 1 2,75,070 2,01,870 3,25,349 3,91,231 4,08,673 4,96,023 4,86,716 4,74,529
Change - -26.61% 61.17% 20.25% 4.46% 21.37% -1.88% -2.5%
P/E 30.6x 43.6x 57.4x 51.6x 35.6x 33.4x 28.6x 24.9x
PBR 4.92x 2.58x 4.96x 5.48x 5.04x 5.32x 4.58x 3.91x
PEG - -0.9x 3.6x 1.5x 0.7x 1x 1.7x 1.7x
Capitalization / Revenue 4.64x 3.29x 4.07x 4.26x 4.21x 4.61x 4.13x 3.73x
EV / Revenue 4.72x 3.23x 4.22x 4.38x 4.24x 4.51x 3.97x 3.49x
EV / EBITDA 21x 21.8x 24.6x 22.7x 20.7x 19.6x 16.7x 14.3x
EV / EBIT 25.6x 30.3x 33.8x 29.5x 26.2x 24.1x 20.6x 17.5x
EV / FCF 72.9x 64.8x 60.9x 71.7x 83.5x 63.4x 40.3x 30.2x
FCF Yield 1.37% 1.54% 1.64% 1.4% 1.2% 1.58% 2.48% 3.31%
Dividend per Share 2 8 4 4 2 6 5.769 6.185 7.114
Rate of return 0.75% 0.49% 0.32% 0.13% 0.37% 0.29% 0.31% 0.36%
EPS 2 34.85 18.58 21.57 29.08 44.98 59.87 69.92 80.13
Distribution rate 23% 21.5% 18.5% 6.88% 13.3% 9.64% 8.84% 8.88%
Net sales 1 58,298 62,443 77,050 89,396 96,463 1,09,955 1,22,660 1,36,008
EBITDA 1 13,073 9,268 13,212 17,261 19,786 25,244 29,171 33,139
EBIT 1 10,748 6,652 9,639 13,283 15,604 20,577 23,583 27,169
Net income 1 8,841 4,713 5,474 7,377 11,411 15,145 17,797 20,425
Net Debt 1 4,685 -3,720 11,415 10,193 2,442 -10,650 -19,956 -32,144
Reference price 2 1,065.75 810.35 1,237.40 1,501.90 1,601.20 1,997.10 1,997.10 1,997.10
Nbr of stocks (in thousands) 2,53,704 2,53,704 2,53,704 2,53,704 2,53,704 2,53,704 - -
Announcement Date 24/05/22 29/05/23 29/05/24 29/05/25 29/05/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
33.36x4.51x19.65x0.29% 527.83Cr
33.6x12.18x24.75x0.59% 1,05300Cr
30.11x6.7x18.74x1.98% 65TCr
33.53x7.84x16.21x2.59% 47TCr
19.76x4.82x11.93x2.75% 35TCr
20.25x5.27x13.08x3.03% 27TCr
20.9x4.34x12.34x2.04% 25TCr
25.65x6.7x11.94x2.48% 22TCr
-45.27x6.59x25.75x2.2% 19TCr
11.33x4.13x8.58x4.44% 17TCr
Average 18.32x 6.31x 16.30x 2.24% 36.33TCr
Weighted average by Cap. 24.18x 7.85x 18.10x 1.97%

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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  4. Valuation Ipca Laboratories Limited