Company Valuation: Black Rose Industries Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2020 2021 2022 2023 2024 2025
Market Cap 1 3,884 8,866 9,976 5,419 6,237 4,557
Change - 128.3% 12.51% -45.68% 15.11% -26.94%
Enterprise Value (EV) 1 4,082 9,002 10,028 5,324 6,031 4,642
Change - 120.51% 11.4% -46.91% 13.27% -23.03%
P/E 18.8x 32.3x 31.3x 68.5x 29.4x 21.8x
PBR 5.76x 9.54x 8.15x 4.26x 4.3x 2.98x
PEG - 1x 1.9x -0.9x 0x -17.05x
Capitalization / Revenue 1.04x 2.33x 2.04x 1.26x 1.64x 1.16x
EV / Revenue 1.1x 2.37x 2.06x 1.24x 1.59x 1.19x
EV / EBITDA 12.6x 22.7x 22.2x 38.8x 21.6x 16x
EV / EBIT 13.5x 24.2x 23.4x 48.6x 24.1x 17.8x
EV / FCF 54x 278x 212x 45.2x 60x -21.1x
FCF Yield 1.85% 0.36% 0.47% 2.21% 1.67% -4.74%
Dividend per Share 2 0.35 0.45 0.55 0.55 0.55 1.05
Rate of return 0.46% 0.26% 0.28% 0.52% 0.45% 1.18%
EPS 2 4.05 5.38 6.25 1.55 4.16 4.107
Distribution rate 8.64% 8.36% 8.8% 35.5% 13.2% 25.6%
Net sales 1 3,726 3,798 4,879 4,304 3,804 3,912
EBITDA 1 323.5 395.7 451.8 137.4 278.8 290.1
EBIT 1 302.3 372.7 428 109.6 250.7 260.8
Net income 1 206.7 274.4 319 79.19 212.3 209.4
Net Debt 1 198.6 135.6 52.75 -94.46 -206.6 85.26
Reference price 2 76.15 173.85 195.60 106.25 122.30 89.35
Nbr of stocks (in thousands) 51,000 51,000 51,000 51,000 51,000 51,000
Announcement Date 9/7/20 9/7/21 9/7/22 9/7/23 8/31/24 9/5/25
1INR in Million2INR
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 50.92M
34.48x4.87x19.63x1.08% 75.64B
28.16x4.36x18.61x2.32% 36.12B
21.65x2.62x13.54x2.46% 30.61B
15.29x1.47x8.9x2.06% 26.27B
36.71x9x27.39x2.49% 22.59B
10.45x2.74x5.74x3.75% 19.63B
26.58x2.76x11.29x1.6% 18.59B
22.51x2.69x12.38x1.52% 13.56B
10.75x2.31x4.96x1.41% 13.54B
Average 22.95x 3.65x 13.60x 2.08% 25.66B
Weighted average by Cap. 25.99x 3.98x 15.52x 1.93%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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