Company Valuation: NCC Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 48,178 35,707 66,740 1,45,912 1,31,534 1,00,424 - -
Change - -25.89% 86.91% 118.63% -9.85% -23.65% - -
Enterprise Value (EV) 1 59,058 41,962 70,079 1,45,520 1,32,999 1,03,859 1,02,739 1,00,938
Change - -28.95% 67.01% 107.65% -8.6% -21.91% -1.08% -1.75%
P/E ratio 18.5x 7.34x 11.6x 23.1x 17.3x 14.2x 13.2x 10.1x
PBR 0.9x 0.62x 1.05x 2.14x 1.77x 1.27x 1.22x 1.05x
PEG - 0.1x 0.8x 2.3x 0.8x -0.6x 0.5x 0.3x
Capitalization / Revenue 0.66x 0.36x 0.5x 0.8x 0.68x 0.47x 0.49x 0.43x
EV / Revenue 0.81x 0.42x 0.52x 0.79x 0.69x 0.6x 0.51x 0.43x
EV / EBITDA 6.91x 4.21x 5.22x 8.83x 7.62x 7.13x 5.73x 4.7x
EV / EBIT 8.68x 5.16x 6.13x 10.1x 8.68x 8.27x 6.66x 5.36x
EV / FCF 11.9x 3.88x 13.2x 14.2x 26.2x -31x 10.3x 10.1x
FCF Yield 8.43% 25.8% 7.58% 7.03% 3.82% -3.23% 9.74% 9.92%
Dividend per Share 2 0.8 2 2.2 2.2 2.2 2.138 2.2 2.525
Rate of return 1.01% 3.42% 2.07% 0.95% 1.05% 1.34% 1.38% 1.58%
EPS 2 4.28 7.98 9.13 10.06 12.12 9.19 12.15 15.79
Distribution rate 18.7% 25.1% 24.1% 21.9% 18.2% 22.7% 18.1% 16%
Net sales 1 72,557 99,300 1,33,513 1,83,144 1,92,053 1,74,635 2,03,029 2,35,393
EBITDA 1 8,545 9,961 13,425 16,481 17,456 14,483 17,933 21,462
EBIT 1 6,804 8,138 11,427 14,389 15,327 12,199 15,418 18,848
Net income 1 2,611 4,901 5,692 6,315 7,611 5,768 7,512 9,825
Net Debt 1 10,880 6,255 3,339 -391.1 1,465 3,435 2,315 513.7
Reference price 2 79.00 58.55 106.30 232.40 209.50 159.95 159.95 159.95
Nbr of stocks (in thousands) 6,09,847 6,09,847 6,27,847 6,27,847 6,27,847 6,27,847 - -
Announcement Date 28/05/21 11/05/22 26/05/23 15/05/24 15/05/25 15/05/26 - -
1INR in Million2INR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
16.96x0.6x7.13x1.34% 104.67Cr
79.6x3.41x33.3x0.06% 12TCr
13.78x1.14x6.24x4.27% 7.99TCr
46.42x5.74x31.98x0.15% 7TCr
25.78x1.95x18.9x1.18% 5.6TCr
56.31x4.76x30.56x1.48% 4.86TCr
37.84x0.89x14.6x1.69% 4.5TCr
31.32x2.04x19.73x0.16% 4.06TCr
32.08x0.63x10.12x1.89% 4.02TCr
5.32x0.31x7.34x5.48% 2.99TCr
Average 34.54x 2.15x 17.99x 1.77% 5.27TCr
Weighted average by Cap. 42.08x 2.63x 21.30x 1.56%

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