Company Valuation: NMDC Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 476,223 327,056 591,103 605,580 670,552 648,836 - -
Change - -31.32% 80.73% 2.45% 10.73% -3.24% - -
Enterprise Value (EV) 1 431,655 260,735 501,939 542,977 615,987 575,634 570,747 555,823
Change - -39.6% 92.51% 8.18% 13.45% -6.55% -0.85% -2.61%
P/E 5.07x 5.92x 10.5x 9.05x 9.04x 7.76x 7.09x 6.71x
PBR 1.37x 1.46x 2.33x 2.05x 1.98x 1.7x 1.48x 1.26x
PEG - -0.1x 5.5x 0.5x 0.8x 0.5x 0.75x 1.19x
Capitalization / Revenue 1.84x 1.85x 2.78x 2.56x 2.13x 2.1x 1.92x 1.8x
EV / Revenue 1.67x 1.48x 2.36x 2.29x 1.95x 1.86x 1.69x 1.54x
EV / EBITDA 3.43x 4.3x 6.82x 6.58x 6.64x 5.43x 4.86x 4.42x
EV / EBIT 3.51x 4.55x 7.15x 6.89x 6.99x 5.73x 5.16x 4.76x
EV / FCF 9.42x 26.7x 8.95x -44.6x 34x 20.3x -547x 99.1x
FCF Yield 10.6% 3.74% 11.2% -2.24% 2.94% 4.93% -0.18% 1.01%
Dividend per Share 2 4.913 2.2 2.417 3.3 3.5 3.657 3.719 3.733
Rate of return 9.07% 5.91% 3.59% 4.79% 4.59% 4.88% 4.96% 4.98%
EPS 2 10.69 6.287 6.407 7.61 8.44 9.666 10.58 11.18
Distribution rate 46% 35% 37.7% 43.4% 41.5% 37.8% 35.2% 33.4%
Net sales 1 258,817 176,669 212,938 236,683 315,537 309,115 338,407 360,386
EBITDA 1 125,890 60,630 73,552 82,579 92,753 106,098 117,467 125,695
EBIT 1 123,021 57,276 70,182 78,851 88,142 100,426 110,619 116,759
Net income 1 93,985 55,286 56,319 66,926 74,212 83,725 91,209 98,078
Net Debt 1 -44,568 -66,321 -89,164 -62,603 -54,565 -73,202 -78,089 -93,013
Reference price 2 54.17 37.20 67.23 68.88 76.27 75.00 75.00 75.00
Nbr of stocks (in thousands) 8,791,818 8,791,818 8,791,818 8,791,818 8,791,818 8,791,818 - -
Announcement Date 5/26/22 5/23/23 5/27/24 5/27/25 5/29/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
8.53x1.8x4.66x7.45% 58.62B
12.92x1.43x7.47x0.93% 54.54B
14.73x0.84x6.87x0.97% 48.61B
13.88x2.33x5.3x4.38% 34.61B
13.96x1.5x8.69x0.91% 33.25B
20.08x1.77x9.78x0.58% 31.23B
12.82x1.15x6.93x2.34% 23.26B
11.39x0.75x6.63x3.75% 21.29B
17.17x1.24x11.27x1.24% 20.44B
Average 13.94x 1.42x 7.51x 2.51% 36.2B
Weighted average by Cap. 13.45x 1.47x 7.14x 2.75%

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