Company Valuation: Tinna Rubber and Infrastructure Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 315.2 2,614 2,972 11,978 15,954 9,612
Change - 729.48% 13.66% 303.08% 33.19% -39.75%
Enterprise Value (EV) 1 975.2 3,312 3,558 12,822 17,225 10,893
Change - 239.57% 7.45% 260.33% 34.34% -36.76%
P/E -228x 15.5x 13.6x 29.7x 33x 18x
PBR 0.47x 3.38x 3.1x 9.35x 8.95x 3.2x
PEG - -0x 0.5x 0.4x 1.7x 3.43x
Capitalization / Revenue 0.24x 1.1x 1.01x 3.3x 3.16x 1.76x
EV / Revenue 0.75x 1.4x 1.2x 3.53x 3.41x 2x
EV / EBITDA 5.71x 9.1x 9.82x 20.6x 22.6x 11.7x
EV / EBIT 10.3x 11.7x 12x 22.8x 25.9x 13.4x
EV / FCF 20.9x -51.6x 82.1x -50.9x -31.2x -14.6x
FCF Yield 4.79% -1.94% 1.22% -1.96% -3.2% -6.86%
Dividend per Share 2 - 2 2.5 5 4 3.25
Rate of return - 1.31% 1.44% 0.72% 0.43% 0.61%
EPS 2 -0.0806 9.864 12.72 23.52 28.19 29.67
Distribution rate - 20.3% 19.6% 21.3% 14.2% 11%
Net sales 1 1,301 2,372 2,954 3,630 5,053 5,458
EBITDA 1 170.7 364 362.2 623.4 762.6 933.5
EBIT 1 94.5 283.5 296.6 563.4 666.2 812.7
Net income 1 -1.381 169 218 402.9 483.6 528.5
Net Debt 1 660.1 697.2 586.9 844 1,272 1,280
Reference price 2 18.40 152.62 173.48 699.25 931.35 533.55
Nbr of stocks (in thousands) 17,130 17,130 17,130 17,130 17,130 18,016
Announcement Date 20/08/21 09/06/22 03/08/23 11/07/24 24/06/25 24/08/26
1INR in Million2INR
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 18Cr
36.61x5x20.3x1.06% 7.79TCr
30.94x4.62x19.94x2.15% 3.8TCr
25.09x2.98x15.47x2.07% 3.56TCr
14.45x1.51x8.43x2.89% 3.22TCr
35.48x6.46x17.14x1.74% 2.96TCr
14.04x1.36x8.36x2.25% 2.52TCr
37.99x9.35x28.01x2.28% 2.31TCr
8.99x2.56x5.11x2.9% 1.89TCr
24.43x2.64x10.74x1.85% 1.76TCr
Average 25.33x 4.05x 14.83x 2.13% 2.98TCr
Weighted average by Cap. 27.74x 4.21x 16.14x 1.94%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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