Company Valuation: PIM Limited

Data adjusted to current consolidation scope
Fiscal Period: June 2020 2021 2022 2023 2024 2025
Market Cap 1 108 95 92.5 84 68 96
Change - -12.04% -2.63% -9.19% -19.05% 41.18%
Enterprise Value (EV) 1 172.5 165.5 179.4 171.8 176.5 196.2
Change - -4.05% 8.41% -4.27% 2.76% 11.17%
P/E 25.4x 15.3x 11.5x 6.91x 2.78x 16.7x
PBR 1.3x 1.06x 1.24x 1.02x 0.61x 0.89x
PEG - 0.3x 0.4x 0.1x 0x -0.2x
Capitalization / Revenue 0.5x 0.4x 0.32x 0.27x 0.19x 0.28x
EV / Revenue 0.8x 0.71x 0.61x 0.55x 0.49x 0.58x
EV / EBITDA 8.28x 9.15x 9.06x 7.04x 3.98x 8.13x
EV / EBIT 18.9x 23.5x 21.7x 13.4x 5.63x 18.9x
EV / FCF -5.65x -14.5x -7.63x 4.49x 17.4x 7.65x
FCF Yield -17.7% -6.92% -13.1% 22.3% 5.74% 13.1%
Dividend per Share 2 - - 3.5 3.5 4 3
Rate of return - - 7.57% 8.33% 11.8% 6.25%
EPS 2 2.127 3.103 4.02 6.082 12.24 2.876
Distribution rate - - 87.1% 57.5% 32.7% 104%
Net sales 1 217 234.6 293.4 312.3 359.5 340.9
EBITDA 1 20.82 18.09 19.81 24.4 44.34 24.12
EBIT 1 9.125 7.045 8.271 12.78 31.34 10.37
Net income 1 4.254 6.205 8.04 12.16 24.48 5.751
Net Debt 1 64.5 70.52 86.93 87.77 108.5 100.2
Reference price 2 54.00 47.50 46.25 42.00 34.00 48.00
Nbr of stocks (in thousands) 2,000 2,000 2,000 2,000 2,000 2,000
Announcement Date 9/27/21 9/27/21 9/21/22 11/14/23 10/11/24 10/22/25
1MUR in Million2MUR
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 1.75M
17.61x0.82x5.79x4.6% 21.59B
13.07x1.52x4.92x6.12% 19.46B
-319.47x - - -.--% 14.36B
-95.44x0.79x6.67x0.78% 12.81B
16.45x2.11x45.69x2.29% 10.53B
22.31x3.41x12.73x0.8% 7.8B
23.52x0.83x12.35x1.87% 6.04B
25.42x1.8x14.9x1.65% 5.76B
Average -37.07x 1.61x 14.72x 2.26% 10.93B
Weighted average by Cap. -46.15x 1.45x 12.47x 2.84%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA