Company Valuation: Modison Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 1,524 2,147 1,733 3,805 3,986 3,764
Change - 40.89% -19.24% 119.49% 4.78% -5.58%
Enterprise Value (EV) 1 1,637 2,278 1,779 4,114 4,710 5,505
Change - 39.13% -21.9% 131.28% 14.49% 16.88%
P/E 6.79x 14.7x 15.5x 17.8x 16.2x 5.19x
PBR 0.93x 1.22x 0.93x 1.87x 1.84x 1.37x
PEG - -0.4x -0.7x 0.2x 1x 0x
Capitalization / Revenue 0.52x 0.63x 0.52x 0.94x 0.81x 0.53x
EV / Revenue 0.56x 0.67x 0.53x 1.02x 0.96x 0.78x
EV / EBITDA 4.08x 7.48x 7.22x 12.6x 10.4x 4.64x
EV / EBIT 4.81x 9.54x 9.7x 15.5x 12.6x 5.05x
EV / FCF 9.94x -689x 23.9x -18.9x -10.9x -5.64x
FCF Yield 10.1% -0.15% 4.18% -5.28% -9.15% -17.7%
Dividend per Share 2 1.5 1 1 2.5 3.5 5.5
Rate of return 3.19% 1.51% 1.87% 2.13% 2.85% 4.74%
EPS 2 6.91 4.509 3.44 6.58 7.606 22.35
Distribution rate 21.7% 22.2% 29.1% 38% 46% 24.6%
Net sales 1 2,921 3,395 3,347 4,046 4,902 7,103
EBITDA 1 400.9 304.3 246.3 327.5 454.5 1,186
EBIT 1 340.6 238.8 183.4 264.8 374.5 1,090
Net income 1 224.4 146.3 111.8 213.6 246.8 725.4
Net Debt 1 113.5 131 45.22 309 723.5 1,741
Reference price 2 46.95 66.15 53.42 117.25 122.85 116.00
Nbr of stocks (in thousands) 32,450 32,450 32,450 32,450 32,450 32,450
Announcement Date 7/9/21 6/8/22 6/27/23 7/4/24 8/11/25 6/29/26
1INR in Million2INR
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 102M
19.41x1.3x9.37x2.5% 2.57B
7.83x0.23x8.98x3.92% 2.01B
9.39x - - - 1.44B
Average 12.21x 0.76x 9.18x 3.21% 1.53B
Weighted average by Cap. 13.15x 0.83x 9.20x 3.12%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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