Company Valuation: Mastek Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 99,714 47,039 78,437 67,485 41,605 50,627 - -
Change - -52.83% 66.75% -13.96% -38.35% 21.69% - -
Enterprise Value (EV) 1 99,714 48,988 79,801 66,815 36,428 42,153 38,231 33,707
Change - -50.87% 62.9% -16.27% -45.48% 15.72% -9.3% -11.83%
P/E 32x 16.1x 26.1x 18.1x 10.4x 11.5x 10.4x 8.49x
PBR 9.31x 2.79x 3.73x 2.74x - 1.54x 1.38x -
PEG - -2.02x 14.5x 0.8x 1.42x 1.17x 1x 0.4x
Capitalization / Revenue 4.57x 1.84x 2.57x 1.95x 1.12x 1.24x 1.14x 1.01x
EV / Revenue 4.57x 1.91x 2.61x 1.93x 0.98x 1.03x 0.86x 0.67x
EV / EBITDA 21.6x 10.7x 15.7x 12.2x 6.22x 6.65x 5.42x 4.04x
EV / EBIT 23.8x 12.6x 19.1x 14.2x 7.1x 7.54x 6.05x 4.56x
EV / FCF 42.1x 64.8x 20.5x 17.8x 7.09x 10.8x 8.46x 6.43x
FCF Yield 2.37% 1.54% 4.87% 5.61% 14.1% 9.27% 11.8% 15.5%
Dividend per Share 2 19 19 19 23 24 26.3 29.25 -
Rate of return 0.57% 1.23% 0.75% 1.05% 1.79% 1.61% 1.79% -
EPS 2 103.8 95.53 97.25 120.6 129.5 142.2 157.4 192.4
Distribution rate 18.3% 19.9% 19.5% 19.1% 18.5% 18.5% 18.6% -
Net sales 1 21,838 25,634 30,548 34,552 36,988 40,892 44,238 50,330
EBITDA 1 4,625 4,558 5,087 5,464 5,856 6,339 7,049 8,345
EBIT 1 4,196 3,885 4,188 4,713 5,130 5,587 6,319 7,392
Net income 1 2,951 2,930 3,003 3,759 4,040 4,441 4,914 6,005
Net Debt 1 - 1,949 1,364 -669.6 -5,177 -8,474 -12,396 -16,920
Reference price 2 3,321.80 1,541.00 2,543.00 2,181.15 1,342.20 1,633.10 1,633.10 1,633.10
Nbr of stocks (in thousands) 30,018 30,525 30,844 30,940 30,997 31,001 - -
Announcement Date 4/20/22 4/19/23 4/26/24 4/18/25 4/17/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
11.62x1.05x6.74x1.59% 534M
24.39x3.94x13.76x2.72% 234B
14.33x1.58x8.32x3.34% 118B
-126.64x17.65x97.86x-.--% 114B
14.57x2.66x10.03x5.64% 84.9B
19.8x5.24x12.86x2.87% 59.74B
14.12x2.05x8.68x5.52% 45.47B
22.17x1.82x11.31x1.32% 44.12B
20.98x1.59x10.13x0.9% 41B
17.28x2.18x10.43x5.06% 35.36B
Average 3.26x 3.97x 19.01x 2.9% 77.73B
Weighted average by Cap. -1.92x 5.11x 23.99x 2.84%

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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  3. MASTEK Stock
  4. Valuation Mastek Limited
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