Company Valuation: Nilachal Refractories Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 455.1 749.3 763.4 1,263 789 996.3
Change - 64.65% 1.87% 65.51% -37.55% 26.27%
Enterprise Value (EV) 1 881.3 1,172 1,189 1,695 1,234 1,456
Change - 33% 1.42% 42.56% -27.18% 17.95%
P/E -17.8x -44.9x -42.5x -19.4x -3.58x -20.5x
PBR 11.3x 31.6x 133x -21.3x -2.82x -3.04x
PEG - 1.3x -5.67x -0x -0x 0.3x
Capitalization / Revenue 25.5x 37.8x 72.1x 97.8x 83.5x 63x
EV / Revenue 49.3x 59.2x 112x 131x 131x 92x
EV / EBITDA -75.2x -183x -92.6x -80.4x -105x -98.1x
EV / EBIT -47.3x -88.5x -61.4x -63.4x -71.7x -72.9x
EV / FCF 208x 159x 304x -137x -114x -115x
FCF Yield 0.48% 0.63% 0.33% -0.73% -0.87% -0.87%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -1.253 -0.82 -0.8815 -3.191 -10.81 -2.383
Distribution rate - - - - - -
Net sales 1 17.87 19.8 10.58 12.92 9.452 15.82
EBITDA 1 -11.71 -6.391 -12.84 -21.08 -11.79 -14.83
EBIT 1 -18.65 -13.25 -19.36 -26.73 -17.22 -19.96
Net income 1 -25.52 -16.6 -17.95 -64.97 -220.2 -48.52
Net Debt 1 426.2 422.8 425.4 431.2 445 459.2
Reference price 2 22.35 36.80 37.49 62.05 38.75 48.93
Nbr of stocks (in thousands) 20,361 20,361 20,361 20,361 20,361 20,361
Announcement Date 9/8/21 9/15/22 10/19/23 9/6/24 9/2/25 9/3/26
1INR in Million2INR
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 7.58M
19.09x2.11x10.53x1.62% 63.07B
20.25x2.71x10.74x2.57% 49.44B
38.32x3.76x20.01x1.01% 38.96B
40.76x6.32x19.74x0.65% 36.85B
32.68x5.01x16.79x0.72% 36.29B
13.56x1.61x7.49x2.25% 33.99B
74.44x4.6x71.23x0.31% 23.28B
18.71x2.13x8.74x1.13% 22.56B
16.01x4.32x8.49x4.68% 16.67B
Average 30.42x 3.62x 19.31x 1.66% 32.11B
Weighted average by Cap. 28.86x 3.46x 17.32x 1.58%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Nilachal Refractories Limited

Historical PBR trend

Valuation ratios - PBR - Nilachal Refractories Limited

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Nilachal Refractories Limited

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Nilachal Refractories Limited

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