Company Valuation: REC Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 259,010 243,014 304,006 1,187,584 1,130,180 926,763 - -
Change - -6.18% 25.1% 290.65% -4.83% -18% - -
Enterprise Value (EV) 259,010 243,014 304,006 1,187,584 1,130,180 926,763 926,763 926,763
Change - -6.18% 25.1% 290.65% -4.83% -18% 0% 0%
P/E 3.1x 2.42x 2.76x 8.49x 7.21x 4.94x 5.51x 5.09x
PBR 0.6x 0.48x 0.53x 1.73x 1.58x 0.95x 0.97x 0.85x
PEG - 0.1x 0.28x 0.3x 0.6x 1.36x 3.23x 0.61x
Capitalization / Revenue 1.86x 1.41x 1.96x 6.88x 5.26x 3.5x 3.91x 3.57x
EV / Revenue 0x 0x 0x 0x 0x 4.17x 3.91x 3.57x
EV / EBITDA - - - - - 4.31x 4.8x 4.4x
EV / EBIT 0x 0x 0x 0x 0x 4.42x 4.18x 3.81x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 8.25 11.48 12.6 16 18 18.55 19.96 21.78
Rate of return 8.39% 12.4% 10.9% 3.55% 4.19% 6.08% 5.67% 6.19%
EPS 2 31.76 38.15 41.86 53.11 59.55 61.71 63.89 69.18
Distribution rate 26% 30.1% 30.1% 30.1% 30.2% 30.1% 31.2% 31.5%
Net sales 1 139,214 171,775 155,151 172,649 214,830 229,459 236,828 259,509
EBITDA 1 - - - - - 209,410 192,936 210,857
EBIT 1 131,758 158,982 138,537 165,888 205,310 209,144 221,680 243,095
Net income 1 83,618 100,459 110,546 140,192 157,130 162,823 168,235 182,903
Net Debt - - - - - - - -
Reference price 2 98.36 92.29 115.45 451.00 429.20 351.95 351.95 351.95
Nbr of stocks (in thousands) 2,633,224 2,633,224 2,633,224 2,633,224 2,633,224 2,633,224 - -
Announcement Date 5/28/21 5/13/22 5/17/23 4/30/24 5/8/25 4/28/26 - -
1INR in Million2INR
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
5.6x - - 5.46% 9.72B
633x - - -.--% 36.33B
592x - - -.--% 19.07B
7.26x - - 4.16% 14.07B
11.86x4.25x14.99x3.7% 12.13B
15.24x - - 3.23% 12.32B
21.1x15.49x69.39x1.08% 8.41B
17.18x - - 2.38% 8.31B
9.36x9.19x20.88x5.08% 6.11B
Average 145.85x 9.64x 35.09x 2.79% 14.05B
Weighted average by Cap. 277.96x 8.93x 33.51x 2.02%

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