Company Valuation: Novateor Research Laboratories Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2020 2021 2022 2023 2024 2025
Market Cap 1 40.56 30.26 41.09 89.43 205.4 173.5
Change - -25.39% 35.78% 117.65% 129.62% -15.51%
Enterprise Value (EV) 1 35.04 26.11 38.7 95.78 212 177.2
Change - -25.47% 48.22% 147.47% 121.35% -16.4%
P/E -420x 313x -18.1x 231x 850x 256x
PBR 0.47x 0.35x 0.52x 1.13x 2.34x 1.65x
PEG - -2x 0x -2x -22.7x 1x
Capitalization / Revenue 10.3x 16.1x 5.54x 7.1x 17x 6.25x
EV / Revenue 8.88x 13.9x 5.22x 7.6x 17.6x 6.38x
EV / EBITDA 26.8x 23.8x 13x 62.8x -64.3x -136x
EV / EBIT 100x 190x 18.2x 144x -51.6x -60.8x
EV / FCF -0.91x -8.41x -6.04x -17.3x -12.3x -10.4x
FCF Yield -110% -11.9% -16.5% -5.78% -8.16% -9.6%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -0.02 0.02 -0.47 0.08 0.05 0.14
Distribution rate - - - - - -
Net sales 1 3.947 1.878 7.419 12.6 12.07 27.77
EBITDA 1 1.307 1.098 2.988 1.524 -3.296 -1.305
EBIT 1 0.3497 0.1375 2.122 0.6664 -4.108 -2.914
Net income 1 -0.0789 0.118 -2.284 0.3665 0.2927 0.818
Net Debt 1 -5.523 -4.149 -2.386 6.351 6.658 3.735
Reference price 2 8.39 6.26 8.50 18.50 42.48 35.89
Nbr of stocks (in thousands) 4,834 4,834 4,834 4,834 4,834 4,834
Announcement Date 9/4/20 9/7/21 9/7/22 9/8/23 9/5/24 9/8/25
1INR in Million2INR
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 2.09M
21.8x4.24x15.52x2.88% 345B
18.24x2.77x12.23x3.45% 137B
25.16x3.76x15.81x2.29% 73.76B
43.48x7.01x30.4x2.12% 51.78B
20.63x2.88x11.93x4.33% 37.54B
84.11x2.48x14.94x1.62% 31.47B
18.42x1.33x7.94x1.29% 19.68B
16x1.54x8.76x3.31% 19.68B
21.31x1.53x9.79x2.43% 18.47B
Average 29.91x 3.06x 14.15x 2.64% 73.45B
Weighted average by Cap. 25.35x 3.75x 15.25x 2.85%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation Novateor Research Laboratories Limited