Company Valuation: Ipca Laboratories Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 241,495 270,385 205,589 313,934 381,038 410,570 - -
Change - 11.96% -23.96% 52.7% 21.38% 7.75% - -
Enterprise Value (EV) 1 239,835 275,070 201,870 325,349 391,231 408,673 396,073 386,910
Change - 14.69% -26.61% 61.17% 20.25% 4.46% -2.34% -2.31%
P/E 21.1x 30.6x 43.6x 57.4x 51.6x 35.6x 29.4x 24.7x
PBR 5.14x 4.92x 2.58x 4.96x 5.48x 5.04x 4.37x 3.79x
PEG - -1.4x -0.9x 3.6x 1.5x 0.7x 1.2x 1.3x
Capitalization / Revenue 4.46x 4.64x 3.29x 4.07x 4.26x 4.21x 3.81x 3.42x
EV / Revenue 4.43x 4.72x 3.23x 4.22x 4.38x 4.24x 3.68x 3.22x
EV / EBITDA 15.5x 21x 21.8x 24.6x 22.7x 20.7x 16.8x 14.2x
EV / EBIT 18x 25.6x 30.3x 33.8x 29.5x 26.2x 20.9x 17.6x
EV / FCF 32.9x 72.9x 64.8x 60.9x 71.7x 83.5x 41.7x 35.2x
FCF Yield 3.04% 1.37% 1.54% 1.64% 1.4% 1.2% 2.4% 2.84%
Dividend per Share 2 4 8 4 4 2 6 5.792 6.258
Rate of return 0.42% 0.75% 0.49% 0.32% 0.13% 0.37% 0.36% 0.39%
EPS 2 45.06 34.85 18.58 21.57 29.08 44.98 55.01 65.51
Distribution rate 8.88% 23% 21.5% 18.5% 6.88% 13.3% 10.5% 9.55%
Net sales 1 54,200 58,298 62,443 77,050 89,396 96,463 107,715 120,158
EBITDA 1 15,444 13,073 9,268 13,212 17,261 19,786 23,587 27,340
EBIT 1 13,352 10,748 6,652 9,639 13,283 15,604 18,929 22,039
Net income 1 11,400 8,841 4,713 5,474 7,377 11,411 14,037 16,700
Net Debt 1 -1,660 4,685 -3,720 11,415 10,193 2,442 -14,496 -23,660
Reference price 2 951.88 1,065.75 810.35 1,237.40 1,501.90 1,618.30 1,618.30 1,618.30
Nbr of stocks (in thousands) 253,704 253,704 253,704 253,704 253,704 253,704 - -
Announcement Date 5/28/21 5/24/22 5/29/23 5/29/24 5/29/25 5/29/26 - -
1INR in Million2INR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
36.36x4.2x20.4x0.31% 4.35B
35.2x12.84x26.1x0.57% 1,077B
27.22x6.26x17.02x2.1% 613B
32.17x7.47x15.29x2.73% 448B
17.9x4.45x10.94x2.98% 332B
23.72x4.94x14x1.76% 293B
21.69x5.59x13.51x2.83% 286B
14.19x5.21x10.72x3.54% 215B
23.3x6.21x10.84x2.81% 193B
-45.82x5.53x30.47x2.54% 159B
Average 18.59x 6.27x 16.93x 2.22% 362.04B
Weighted average by Cap. 24.46x 7.94x 18.32x 1.97%

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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