Company Valuation: GKB Ophthalmics Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 413.3 463.7 547.2 439.6 304.1 264.6
Change - 12.2% 17.99% -19.65% -30.82% -12.99%
Enterprise Value (EV) 1 363.7 423.1 518.2 382.4 319.7 337
Change - 16.34% 22.46% -26.2% -16.39% 5.4%
P/E -45.5x 36.4x -327x -15.6x -4.32x 21.7x
PBR 0.66x 0.73x 0.87x 0.74x 0.58x 0.5x
PEG - -0x 3x -0x -0x -0x
Capitalization / Revenue 0.73x 0.65x 0.72x 0.5x 0.28x 0.18x
EV / Revenue 0.64x 0.6x 0.69x 0.43x 0.29x 0.23x
EV / EBITDA 15.3x 8.55x 14.1x 66.2x -10.9x 3.93x
EV / EBIT -48.1x 18.5x 60.5x -16.5x -5.3x 6.28x
EV / FCF -38.7x -25.6x -8.45x 15.9x -6.64x -13.3x
FCF Yield -2.58% -3.9% -11.8% 6.28% -15.1% -7.51%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -1.8 2.528 -0.3321 -5.58 -13.98 2.417
Distribution rate - - - - - -
Net sales 1 568.8 709.4 754.7 882.5 1,090 1,491
EBITDA 1 23.83 49.52 36.83 5.779 -29.45 85.77
EBIT 1 -7.568 22.85 8.561 -23.2 -60.31 53.68
Net income 1 -9.075 12.74 -1.674 -28.1 -70.45 12.18
Net Debt 1 -49.64 -40.6 -28.99 -57.22 15.59 72.38
Reference price 2 82.00 92.00 108.55 87.22 60.34 52.50
Nbr of stocks (in thousands) 5,041 5,041 5,041 5,041 5,041 5,041
Announcement Date 9/3/21 9/7/22 8/22/23 7/25/24 7/24/25 7/30/26
1INR in Million2INR
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 3.35M
28.84x2.8x11.32x2.5% 87.21B
43.78x3.47x12.89x0.5% 35.89B
37.19x3.93x12.6x-.--% 14.78B
122.31x9.28x44.74x-.--% 11.4B
25.07x6.23x17.7x1.12% 2.51B
15.75x4.12x9.37x1.69% 1.49B
21.03x1.44x8.32x1.48% 918M
26.47x5.43x16.66x1.97% 883M
13.73x2.81x7.22x3.12% 869M
Average 37.13x 4.39x 15.65x 1.37% 15.6B
Weighted average by Cap. 39.57x 3.61x 14.32x 1.58%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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