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 1,130,180 960,995 - -
Change - -6.18% 25.1% 290.65% -4.83% -14.97% - -
Enterprise Value (EV) 259,010 243,014 304,006 1,187,584 1,130,180 960,995 960,995 960,995
Change - -6.18% 25.1% 290.65% -4.83% -14.97% 0% 0%
P/E 3.1x 2.42x 2.76x 8.49x 7.21x 4.94x 5.69x 5.27x
PBR 0.6x 0.48x 0.53x 1.73x 1.58x 0.95x 1x 0.89x
PEG - 0.1x 0.28x 0.3x 0.6x 1.36x 2.79x 0.65x
Capitalization / Revenue 1.86x 1.41x 1.96x 6.88x 5.26x 3.5x 4.04x 3.71x
EV / Revenue 0x 0x 0x 0x 0x 4.32x 4.04x 3.71x
EV / EBITDA - - - - - 4.47x 4.98x 4.56x
EV / EBIT 0x 0x 0x 0x 0x 4.59x 4.32x 3.95x
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% 5.47% 5.97%
EPS 2 31.76 38.15 41.86 53.11 59.55 61.71 64.1 69.26
Distribution rate 26% 30.1% 30.1% 30.1% 30.2% 30.1% 31.1% 31.5%
Net sales 1 139,214 171,775 155,151 172,649 214,830 229,459 237,720 258,783
EBITDA 1 - - - - - 209,410 192,936 210,857
EBIT 1 131,758 158,982 138,537 165,888 205,310 209,144 222,481 243,185
Net income 1 83,618 100,459 110,546 140,192 157,130 162,823 168,881 182,603
Net Debt - - - - - - - -
Reference price 2 98.36 92.29 115.45 451.00 429.20 364.95 364.95 364.95
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.($)
5.81x - - 5.27% 10.18B
688x - - -.--% 39.48B
617x - - -.--% 19.88B
7.73x - - 3.9% 15.14B
15.55x - - 3.16% 12.71B
11.34x4.02x13.9x3.48% 11.63B
17.03x - - 2.4% 8.26B
19.69x14.91x68.97x1.15% 7.91B
9.28x8.75x19.9x5.11% 6.09B
Average 154.60x 9.23x 34.26x 2.72% 14.59B
Weighted average by Cap. 306.87x 8.51x 32.33x 1.93%

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