Company Valuation: Amal Ltd

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 3,604 3,883 2,243 4,360 8,272 5,108
Change - 7.74% -42.22% 94.35% 89.73% -38.25%
Enterprise Value (EV) 1 3,464 4,392 2,562 4,585 8,045 4,725
Change - 26.8% -41.66% 78.93% 75.47% -41.27%
P/E 41x 350x -10.6x 287x 28.2x 22.8x
PBR 10.5x 11x 3.28x 6.24x 8.34x 4.24x
PEG - -4x 0x -3x 0x -1x
Capitalization / Revenue 11.8x 8.93x 3.66x 5.06x 6.11x 2.13x
EV / Revenue 11.4x 10.1x 4.18x 5.33x 5.95x 1.97x
EV / EBITDA 30.8x 111x -45.7x 29.8x 18.5x 13.3x
EV / EBIT 33.6x 195x -20.8x 72.4x 23.3x 17.9x
EV / FCF 72.6x -7.01x -12.9x 220x 23.4x 48.8x
FCF Yield 1.38% -14.3% -7.73% 0.45% 4.26% 2.05%
Dividend per Share 2 - - - - 1 1.5
Rate of return - - - - 0.15% 0.36%
EPS 2 9.334 1.177 -17.05 1.228 23.69 18.11
Distribution rate - - - - 4.22% 8.28%
Net sales 1 304.2 434.8 613.2 860.9 1,353 2,396
EBITDA 1 112.5 39.49 -56.05 153.6 435.1 355.1
EBIT 1 103 22.55 -123 63.33 344.7 263.6
Net income 1 87.98 11.09 -161 17.05 292.9 223.8
Net Debt 1 -140 509.3 319.2 225.3 -226.4 -382.2
Reference price 2 382.35 411.95 181.45 352.65 669.10 413.15
Nbr of stocks (in thousands) 9,425 9,425 12,363 12,363 12,363 12,363
Announcement Date 8/25/21 7/29/22 8/14/23 8/13/24 8/6/25 7/22/26
1INR in Million2INR
Estimates


P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 97.63M
27.5x4.26x13.69x2.1% 126B
16.58x5.97x31.16x2.87% 56.53B
58.75x1.37x9.6x5.91% 39.9B
12.64x1.28x6.88x2.68% 36.21B
10.09x3.26x7.66x4.3% 26.43B
75.6x13.71x49.9x0.07% 20.55B
8.68x0.87x5.34x4.35% 20.52B
19.54x0.86x6.57x1.19% 20.5B
11.33x1.02x8.2x3.7% 19.94B
Average 26.74x 3.62x 15.44x 3.02% 36.68B
Weighted average by Cap. 26.81x 3.82x 15.70x 2.9%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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