Company Valuation: Mastek Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 30,775 99,714 47,039 78,437 67,485 48,278 - -
Change - 224.01% -52.83% 66.75% -13.96% -28.46% - -
Enterprise Value (EV) 1 30,775 99,714 48,988 79,801 66,815 44,324 41,214 37,401
Change - 224.01% -50.87% 62.9% -16.27% -33.66% -7.02% -9.25%
P/E ratio 14.9x 32x 16.1x 26.1x 18.1x 12.3x 11.4x 9.98x
PBR 3.58x 9.31x 2.79x 3.73x 2.74x 1.75x 1.61x 1.39x
PEG - 1.2x -2.02x 14.5x 0.8x 2.34x 1.52x 0.7x
Capitalization / Revenue 1.79x 4.57x 1.84x 2.57x 1.95x 1.31x 1.14x 1.08x
EV / Revenue 1.79x 4.57x 1.91x 2.61x 1.93x 1.2x 0.97x 0.83x
EV / EBITDA 8.44x 21.6x 10.7x 15.7x 12.2x 7.66x 6.02x 5.19x
EV / EBIT 9.63x 23.8x 12.6x 19.1x 14.2x 8.74x 7.27x 5.77x
EV / FCF 11.2x 42.1x 64.8x 20.5x 17.8x 11.8x 10.1x 8.28x
FCF Yield 8.95% 2.37% 1.54% 4.87% 5.61% 8.5% 9.95% 12.1%
Dividend per Share 2 14.5 19 19 19 23 21.6 41.55 47.8
Rate of return 1.19% 0.57% 1.23% 0.75% 1.05% 1.39% 2.67% 3.07%
EPS 2 81.88 103.8 95.53 97.25 120.6 127 136.6 156
Distribution rate 17.7% 18.3% 19.9% 19.5% 19.1% 17% 30.4% 30.6%
Net sales 1 17,219 21,838 25,634 30,548 34,552 36,970 42,332 44,883
EBITDA 1 3,645 4,625 4,558 5,087 5,464 5,784 6,846 7,209
EBIT 1 3,195 4,196 3,885 4,188 4,713 5,074 5,667 6,478
Net income 1 2,094 2,951 2,930 3,003 3,759 3,962 4,277 4,887
Net Debt 1 - - 1,949 1,364 -669.6 -3,954 -7,065 -10,877
Reference price 2 1,219.65 3,321.80 1,541.00 2,543.00 2,181.15 1,557.50 1,557.50 1,557.50
Nbr of stocks (in thousands) 25,233 30,018 30,525 30,844 30,940 30,997 - -
Announcement Date 28/04/21 20/04/22 19/04/23 26/04/24 18/04/25 - - -
1INR in Million2INR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
12.29x1.2x7.68x1.38% 52Cr
23.84x3.95x14.13x2.61% 24TCr
15.95x1.71x9.08x3.03% 13TCr
18.23x3.35x12.32x4.72% 9.93TCr
20.61x3.58x12.26x2.86% 8.98TCr
20.82x5.45x13.43x2.75% 6.37TCr
-46.12x12.72x93.21x-.--% 6.26TCr
18.78x2.79x11.85x3.79% 5.78TCr
14.75x1.68x11.64x1% 4.05TCr
21.38x2.66x12.71x4.16% 3.99TCr
Average 12.05x 3.91x 19.83x 2.63% 8.2TCr
Weighted average by Cap. 15.07x 4.01x 18.53x 2.85%

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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