Company Valuation: Shivalik Rasayan Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2020 2021 2022 2023 2024 2025
Market Cap 1 3,045 9,721 13,516 9,743 8,987 9,745
Change - 219.23% 39.04% -27.92% -7.76% 8.43%
Enterprise Value (EV) 1 3,072 9,975 13,220 10,091 9,469 10,512
Change - 224.68% 32.53% -23.67% -6.16% 11.02%
P/E 21.8x 55.2x 51.5x 45.9x 69.1x 59.1x
PBR 1.73x 5.43x 4.71x 2.7x 1.77x 1.84x
PEG - 2.1x 1.2x -2.4x -1.6x 2.2x
Capitalization / Revenue 1.63x 4.92x 6.53x 4.16x 3.31x 3.15x
EV / Revenue 1.65x 5.05x 6.39x 4.31x 3.49x 3.4x
EV / EBITDA 11.9x 26.2x 28.3x 23.5x 30.2x 26.2x
EV / EBIT 12.2x 33.8x 36.9x 32.1x 35x 43x
EV / FCF -3.51x -95.3x -48x -11.8x -13.4x -30.5x
FCF Yield -28.5% -1.05% -2.08% -8.5% -7.48% -3.27%
Dividend per Share 2 0.25 0.5 0.5 0.5 0.5 0.5
Rate of return 0.11% 0.07% 0.05% 0.07% 0.09% 0.08%
EPS 2 10.16 12.77 18.12 14.66 8.354 10.6
Distribution rate 2.46% 3.92% 2.76% 3.41% 5.99% 4.72%
Net sales 1 1,863 1,976 2,070 2,340 2,715 3,096
EBITDA 1 258.7 380.1 467.7 429.6 313.2 400.5
EBIT 1 252.5 294.9 358.6 314.7 270.4 244.3
Net income 1 140.1 176 256.1 212.4 127.2 167
Net Debt 1 27.05 253.8 -296.4 348.4 482.3 767.6
Reference price 2 221.00 705.50 932.85 672.40 577.55 626.25
Nbr of stocks (in thousands) 13,779 13,779 14,489 14,489 15,560 15,560
Announcement Date 9/7/20 9/6/21 9/3/22 9/4/23 9/3/24 9/4/25
1INR in Million2INR
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 38.64M
31.38x3.13x13.69x0.86% 57.78B
10.39x1.18x6.19x5.46% 8.13B
20.98x1.33x7.23x1.41% 5.39B
28.29x5.12x19.5x0.53% 4.26B
Average 22.76x 2.69x 11.65x 2.07% 15.12B
Weighted average by Cap. 28.20x 2.90x 12.75x 1.38%

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 Shivalik Rasayan Limited