Company Valuation: IndiaMART InterMESH Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 132,120 153,678 158,543 124,128 119,284 116,242 - -
Change - 16.32% 3.17% -21.71% -3.9% -2.55% - -
Enterprise Value (EV) 1 106,625 128,011 132,614 91,200 83,999 75,262 69,048 88,618
Change - 20.06% 3.6% -31.23% -7.9% -10.4% -8.26% 28.34%
P/E 44.6x 54.2x 44.3x 22.6x 25.2x 21.2x 18.9x 17.1x
PBR 7.06x 7.47x 9.13x 5.68x 4.97x 4.39x 4x 3.84x
PEG - -12.47x 1.5x 0.4x -1.8x 1.3x 1.6x 1.6x
Capitalization / Revenue 17.5x 15.6x 13.2x 8.94x 7.6x 6.71x 5.98x 5.35x
EV / Revenue 14.2x 13x 11.1x 6.57x 5.35x 4.34x 3.55x 4.08x
EV / EBITDA 34.6x 47.8x 40x 17.4x 15.8x 13.1x 10.7x 12.3x
EV / EBIT 36x 54.1x 45x 18.6x 16.7x 13.9x 11.4x 13.1x
EV / FCF 26.8x 27.9x 24.4x 14.8x 12.2x 11.2x 9.23x 10.5x
FCF Yield 3.73% 3.58% 4.11% 6.75% 8.18% 8.91% 10.8% 9.55%
Dividend per Share 2 1 10 20 50 60 59.97 62.32 70.53
Rate of return 0.05% 0.4% 0.76% 2.42% 3.02% 3.1% 3.22% 3.65%
EPS 2 48.42 46.32 59.7 91.59 78.77 91.29 102.1 112.9
Distribution rate 2.07% 21.6% 33.5% 54.6% 76.2% 65.7% 61% 62.5%
Net sales 1 7,535 9,854 11,968 13,884 15,690 17,336 19,423 21,731
EBITDA 1 3,078 2,679 3,314 5,228 5,300 5,765 6,429 7,181
EBIT 1 2,959 2,368 2,949 4,899 5,016 5,430 6,042 6,760
Net income 1 2,976 2,838 3,340 5,507 4,747 5,495 6,154 6,797
Net Debt 1 -25,495 -25,667 -25,929 -32,928 -35,285 -40,980 -47,194 -27,624
Reference price 2 2,161.32 2,509.88 2,645.45 2,068.70 1,986.20 1,932.90 1,932.90 1,932.90
Nbr of stocks (in thousands) 61,129 61,229 59,930 60,003 60,056 60,139 - -
Announcement Date 4/28/22 4/28/23 4/30/24 4/29/25 4/30/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
20.92x4.26x12.82x3.14% 1.19B
20.2x1.42x9.8x0.95% 262B
142.51x10.38x56.23x-.--% 161B
8.97x0.72x3.23x-.--% 120B
45.43x2.04x19.93x-.--% 91.96B
-39.28x0.87x57.86x-.--% 65.88B
24.69x4.4x14.41x1.11% 49.75B
17.46x4.55x11.02x - 25.56B
5.39x0.21x2.21x4.12% 6.96B
33.68x4.46x19.93x-.--% 6.4B
Average 28.00x 3.33x 20.74x 1.03% 79.05B
Weighted average by Cap. 41.52x 3.47x 23.78x 0.44%

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

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  4. Valuation IndiaMART InterMESH Limited