Company Valuation: Emcure Pharmaceuticals Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2025 2026 2027 2028 2029
Market Cap 1 203,202 302,490 381,124 - -
Change - 48.86% 26% - -
Enterprise Value (EV) 1 208,106 306,160 387,508 377,846 365,626
Change - 47.12% 26.57% -2.49% -3.23%
P/E 29.4x 32.7x 32x 25.9x 21.6x
PBR 4.57x - 6.26x 5.1x 4.17x
PEG - 1x 1.1x 1.1x 1.1x
Capitalization / Revenue 2.57x 3.29x 3.6x 3.18x 2.84x
EV / Revenue 2.64x 3.33x 3.66x 3.16x 2.73x
EV / EBITDA 14.2x 17.1x 18x 14.9x 12.6x
EV / EBIT 19.2x 22.3x 22.8x 18.4x 15.2x
EV / FCF 33x 52.5x 39.1x 32x 24.5x
FCF Yield 3.03% 1.9% 2.56% 3.12% 4.08%
Dividend per Share 2 3 3.6 4.007 4.728 5.773
Rate of return 0.28% 0.23% 0.2% 0.24% 0.29%
EPS 2 36.43 48.77 62.72 77.55 92.93
Distribution rate 8.23% 7.38% 6.39% 6.1% 6.21%
Net sales 1 78,960 92,035 105,929 119,687 133,996
EBITDA 1 14,689 17,890 21,583 25,399 29,101
EBIT 1 10,847 13,740 16,973 20,531 24,113
Net income 1 6,813 9,244 11,870 14,586 17,577
Net Debt 1 4,904 3,670 6,384 -3,278 -15,498
Reference price 2 1,072.40 1,595.50 2,009.30 2,009.30 2,009.30
Nbr of stocks (in thousands) 189,483 189,590 189,680 - -
Announcement Date 5/22/25 5/5/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
31.95x3.65x17.91x0.2% 3.96B
32.78x11.92x24.16x0.6% 1,028B
30.03x6.68x18.7x1.99% 651B
33.38x7.81x16.15x2.6% 466B
19.33x4.72x11.71x2.81% 346B
19.72x5.16x12.79x3.11% 266B
21.26x4.42x12.58x1.99% 259B
24.43x6.42x11.43x2.62% 208B
12.52x4.56x9.46x4.01% 191B
-45.4x6.61x25.81x2.19% 186B
Average 18.00x 6.19x 16.07x 2.21% 360.57B
Weighted average by Cap. 23.69x 7.72x 17.83x 1.99%

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
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  3. EMCURE Stock
  4. Valuation Emcure Pharmaceuticals Limited
-40%: Exceptional extension
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