Company Valuation: Mastek Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 30,775 99,714 47,039 78,437 67,485 54,146 - -
Change - 224.01% -52.83% 66.75% -13.96% -19.77% - -
Enterprise Value (EV) 1 30,775 99,714 48,988 79,801 66,815 36,428 45,565 41,469
Change - 224.01% -50.87% 62.9% -16.27% -45.48% -9.22% -8.99%
P/E 14.9x 32x 16.1x 26.1x 18.1x 10.4x 12.2x 10.9x
PBR 3.58x 9.31x 2.79x 3.73x 2.74x - 1.62x 1.46x
PEG - 1.2x -2.02x 14.5x 0.8x 1.42x 1x 0.9x
Capitalization / Revenue 1.79x 4.57x 1.84x 2.57x 1.95x 1.12x 1.34x 1.22x
EV / Revenue 1.79x 4.57x 1.91x 2.61x 1.93x 0.98x 1.12x 0.93x
EV / EBITDA 8.44x 21.6x 10.7x 15.7x 12.2x 6.22x 6.99x 5.75x
EV / EBIT 9.63x 23.8x 12.6x 19.1x 14.2x 7.1x 7.91x 6.31x
EV / FCF 11.2x 42.1x 64.8x 20.5x 17.8x 7.09x 11.8x 9.07x
FCF Yield 8.95% 2.37% 1.54% 4.87% 5.61% 14.1% 8.5% 11%
Dividend per Share 2 14.5 19 19 19 23 24 28.15 29.4
Rate of return 1.19% 0.57% 1.23% 0.75% 1.05% 1.79% 1.61% 1.68%
EPS 2 81.88 103.8 95.53 97.25 120.6 129.5 142.9 160.5
Distribution rate 17.7% 18.3% 19.9% 19.5% 19.1% 18.5% 19.7% 18.3%
Net sales 1 17,219 21,838 25,634 30,548 34,552 36,988 40,553 44,460
EBITDA 1 3,645 4,625 4,558 5,087 5,464 5,856 6,519 7,210
EBIT 1 3,195 4,196 3,885 4,188 4,713 5,130 5,761 6,574
Net income 1 2,094 2,951 2,930 3,003 3,759 4,040 4,462 5,011
Net Debt 1 - - 1,949 1,364 -669.6 -5,177 -8,581 -12,677
Reference price 2 1,219.65 3,321.80 1,541.00 2,543.00 2,181.15 1,746.60 1,746.60 1,746.60
Nbr of stocks (in thousands) 25,233 30,018 30,525 30,844 30,940 31,001 - -
Announcement Date 28/04/21 20/04/22 19/04/23 26/04/24 18/04/25 17/04/26 - -
1INR in Million2INR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.68x1.35x8.58x1.47% 56Cr
22.22x3.5x12.4x3.17% 20TCr
-96.09x15.2x88x-.--% 9.51TCr
10.75x1.18x6.19x4.48% 8.86TCr
14.6x2.66x10.05x5.63% 8.45TCr
19.72x5.16x12.72x2.86% 5.91TCr
14.12x2.06x8.64x5.52% 4.56TCr
20.09x1.49x9.43x0.98% 3.55TCr
18.84x1.52x9.54x1.58% 3.52TCr
16.64x2.14x9.95x5.2% 3.43TCr
Average 5.46x 3.63x 17.55x 3.09% 6.79TCr
Weighted average by Cap. 1.86x 4.50x 21.23x 3.24%

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 Mastek Limited