Company Valuation: KIOCL Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 87,152 126,838 102,436 236,354 143,897 192,596
Change - 45.54% -19.24% 130.73% -39.12% 33.84%
Enterprise Value (EV) 1 73,986 117,687 100,700 235,448 139,828 186,263
Change - 59.07% -14.43% 133.81% -40.61% 33.21%
P/E 29.4x 40.5x -105x -284x -70.3x 1,163x
PBR 4.39x 5.92x 5.12x 12.3x 8.41x 11.1x
PEG - 6.93x 1x 19.3x -0x -11x
Capitalization / Revenue 3.66x 4.22x 6.64x 12.7x 24.4x 31.4x
EV / Revenue 3.1x 3.91x 6.52x 12.7x 23.7x 30.4x
EV / EBITDA 21x 31.4x -59.2x -300x -66.1x -435x
EV / EBIT 22.4x 33.7x -53.1x -236x -58.5x -274x
EV / FCF 141x -44.4x -14.8x 465x 53.5x 128x
FCF Yield 0.71% -2.25% -6.77% 0.21% 1.87% 0.78%
Dividend per Share 2 1.64 1.77 - - - -
Rate of return 1.14% 0.85% - - - -
EPS 2 4.872 5.157 -1.607 -1.371 -3.366 0.2726
Distribution rate 33.7% 34.3% - - - -
Net sales 1 23,836 30,065 15,434 18,543 5,905 6,135
EBITDA 1 3,527 3,745 -1,700 -783.9 -2,116 -428.6
EBIT 1 3,309 3,489 -1,895 -998.2 -2,389 -679.9
Net income 1 3,012 3,134 -976.7 -833.1 -2,046 165.7
Net Debt 1 -13,165 -9,150 -1,736 -906.2 -4,069 -6,333
Reference price 2 143.40 208.70 168.55 388.90 236.77 316.90
Nbr of stocks (in thousands) 607,751 607,751 607,751 607,751 607,751 607,751
Announcement Date 8/23/21 8/22/22 8/29/23 9/5/24 9/6/25 9/10/26
1INR in Million2INR
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 2.04B
8.53x1.8x4.66x7.45% 60.91B
12.92x1.43x7.47x0.93% 57.04B
14.73x0.84x6.87x0.97% 48.69B
13.88x2.33x5.3x4.38% 34.7B
13.96x1.5x8.69x0.91% 34.55B
20.08x1.77x9.78x0.58% 31.23B
12.82x1.15x6.93x2.34% 23.07B
11.39x0.75x6.63x3.75% 21.14B
17.17x1.24x11.27x1.24% 20.84B
Average 13.94x 1.42x 7.51x 2.51% 33.42B
Weighted average by Cap. 13.42x 1.47x 7.13x 2.76%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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