Company Valuation: ADAI POWE

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2024 2025 2026 2027 2028 2029
Market Cap 1 713,919 2,058,834 1,964,339 2,900,997 3,783,850 - -
Change - - -4.59% 47.68% 30.43% - -
Enterprise Value (EV) 1 713,919 2,058,834 1,964,339 3,378,436 4,414,969 4,607,179 4,741,316
Change - - -4.59% 71.99% 30.68% 4.35% 2.91%
P/E - 10.3x 15.8x 22.7x 29.9x 24.6x 22x
PBR - - 3.49x 4.47x 4.78x 4.06x 3.51x
PEG - - -0.4x 9.41x -37.85x 1.1x 1.9x
Capitalization / Revenue 2.58x - 3.5x 5.35x 5.96x 5.2x 4.38x
EV / Revenue 2.58x - 3.5x 6.23x 6.96x 6.34x 5.49x
EV / EBITDA 7.27x - 9.22x 17.1x 18.8x 16x 13.5x
EV / EBIT 10.7x - 11.6x 22.2x 23.6x 20.2x 17.6x
EV / FCF 10.5x - 19.8x -119x -71.3x -35.2x -48x
FCF Yield 9.52% - 5.06% -0.84% -1.4% -2.84% -2.08%
Dividend per Share 2 - - - - - - -
Rate of return - - - - - - -
EPS 2 - 10.32 6.464 6.62 6.568 7.976 8.913
Distribution rate - - - - - - -
Net sales 1 277,112 - 562,031 542,405 634,431 726,979 862,957
EBITDA 1 98,142 - 213,054 198,061 235,011 287,824 350,529
EBIT 1 66,966 - 169,966 152,416 187,001 227,616 270,085
Net income 1 49,116 208,288 129,388 128,343 124,228 152,317 167,768
Net Debt 1 - - - 477,440 631,119 823,329 957,466
Reference price 2 37.02 106.76 101.86 150.43 196.21 196.21 196.21
Nbr of stocks (in thousands) 19,284,695 19,284,695 19,284,695 19,284,695 19,284,695 - -
Announcement Date 5/5/22 5/1/24 4/30/25 4/29/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
29.88x6.96x18.79x-.--% 39.36B
13.71x2.71x10.12x3.04% 31.78B
12.45x6.71x13.96x3.53% 29.14B
21.1x10.58x15.24x2.14% 27.48B
22.35x7.65x12.48x1.73% 27.09B
73.4x18.41x21.87x-.--% 21.87B
16.12x5.06x10.05x3.49% 18.19B
Average 27.00x 8.30x 14.64x 1.99% 27.85B
Weighted average by Cap. 25.95x 7.94x 14.80x 1.89%

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