Company Valuation: Dredging Corporation of India Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2020 2021 2022 2023 2024 2025
Market Cap 1 4,085 10,367 8,835 7,892 18,845 15,239
Change - 153.77% -14.77% -10.68% 138.8% -19.14%
Enterprise Value (EV) 1 9,148 13,950 11,349 11,048 23,590 23,519
Change - 52.49% -18.64% -2.65% 113.52% -0.3%
P/E 74.1x -6.01x 259x 62.9x 52.8x -55.5x
PBR 0.26x 0.74x 0.63x 0.55x 1.49x 1.25x
PEG - 0x -3x 0x 0x 0x
Capitalization / Revenue 0.54x 1.36x 1.11x 0.68x 1.99x 1.33x
EV / Revenue 1.22x 1.83x 1.42x 0.95x 2.49x 2.06x
EV / EBITDA 6.39x -40.6x 9.65x 6.31x 11.5x 16.8x
EV / EBIT 35.1x -9.07x -440x 28.2x 37.2x -198x
EV / FCF 8.66x 5.07x 12.7x -15.7x -13.1x -4.54x
FCF Yield 11.5% 19.7% 7.87% -6.37% -7.65% -22%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 1.969 -61.58 1.22 4.48 12.74 -9.81
Distribution rate - - - - - -
Net sales 1 7,497 7,638 7,991 11,648 9,455 11,421
EBITDA 1 1,432 -343.7 1,176 1,750 2,043 1,397
EBIT 1 261 -1,538 -25.78 391.6 634.8 -118.8
Net income 1 55.13 -1,724 34.2 125.6 356.8 -274.6
Net Debt 1 5,063 3,583 2,514 3,156 4,744 8,280
Reference price 2 145.90 370.25 315.55 281.85 673.05 544.25
Nbr of stocks (in thousands) 28,000 28,000 28,000 28,000 28,000 28,000
Announcement Date 11/26/20 11/24/21 11/28/22 9/2/23 9/4/24 9/2/25
1INR in Million2INR
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 312M
25.28x9.46x16.32x0.57% 40.02B
8.58x3.13x7.61x3.8% 17.6B
14.11x3.33x8.53x4.66% 8.86B
8.29x5.95x10.35x5.74% 7.97B
7.04x - - 6.04% 7.91B
11.52x - - - 7.74B
33.98x9.87x17.67x1.45% 6.95B
18.91x7.43x11.93x3.93% 5.79B
Average 15.96x 6.53x 12.07x 3.74% 11.46B
Weighted average by Cap. 17.93x 7.14x 13.04x 2.71%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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