Company Valuation: Cipla Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 821,377 726,839 1,208,588 1,164,745 988,887 1,119,761 - -
Change - -11.51% 66.28% -3.63% -15.1% 13.23% - -
Enterprise Value (EV) 1 810,334 716,397 1,154,239 1,084,736 901,599 1,013,688 988,317 971,925
Change - -11.59% 61.12% -6.02% -16.88% 12.43% -2.5% -1.66%
P/E 32.7x 26x 29.3x 22.1x 25.5x 27x 21.7x 19.1x
PBR 3.94x 3.11x 4.53x 3.73x 2.87x 2.98x 2.7x 2.44x
PEG - 2.3x 0.6x 0.8x -1x 3.84x 0.9x 1.4x
Capitalization / Revenue 3.77x 3.19x 4.69x 4.23x 3.51x 3.61x 3.22x 2.95x
EV / Revenue 3.72x 3.15x 4.48x 3.94x 3.2x 3.27x 2.85x 2.56x
EV / EBITDA 17.8x 14.3x 18.3x 15.2x 15.3x 16.9x 13.4x 11.7x
EV / EBIT 23.1x 18.6x 22x 18x 19.3x 21.7x 16.6x 14.2x
EV / FCF 29.1x 29.9x 38x 28.2x 38.5x 35.7x 27.4x 22.7x
FCF Yield 3.43% 3.35% 2.63% 3.54% 2.6% 2.8% 3.64% 4.41%
Dividend per Share 2 5 8.5 13 13 13 12.99 14.73 14.61
Rate of return 0.49% 0.94% 0.87% 0.9% 1.06% 0.94% 1.06% 1.05%
EPS 2 31.17 34.69 51.01 65.24 48 51.37 63.73 72.44
Distribution rate 16% 24.5% 25.5% 19.9% 27.1% 25.3% 23.1% 20.2%
Net sales 1 217,633 227,531 257,741 275,476 281,626 309,885 347,371 379,448
EBITDA 1 45,528 50,270 62,910 71,279 58,829 59,815 73,616 82,917
EBIT 1 35,008 38,549 52,400 60,210 46,719 46,616 59,588 68,666
Net income 1 25,168 28,019 41,216 52,725 38,792 41,355 51,424 58,494
Net Debt 1 -11,043 -10,443 -54,350 -80,010 -87,289 -106,073 -131,444 -147,836
Reference price 2 1,018.05 900.50 1,496.95 1,442.20 1,224.20 1,386.10 1,386.10 1,386.10
Nbr of stocks (in thousands) 806,814 807,151 807,367 807,617 807,783 807,850 - -
Announcement Date 5/10/22 5/12/23 5/10/24 5/13/25 5/13/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
27.15x3.29x17.06x0.93% 11.74B
33.9x6.35x22.04x0.93% 45.94B
15.9x1.97x8.74x1.7% 37.22B
27.81x3.97x16.44x0.58% 12.06B
18.58x3.37x11.75x3.79% 9.03B
9.44x2.18x5.65x4.7% 7.36B
29.77x3.9x18.12x0.16% 7.2B
15.18x2.01x6.67x3.28% 7.15B
35.54x6.93x25.35x0.98% 4.64B
Average 23.70x 3.77x 14.65x 1.89% 15.82B
Weighted average by Cap. 24.79x 4.02x 15.31x 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

  1. Stock Market
  2. Stocks
  3. CIPLA Stock
  4. Valuation Cipla Limited
-40%: Exceptional extension
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