Company Valuation: Zenotech Laboratories Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2020 2021 2022 2023 2024 2025
Market Cap 1 897.1 2,136 3,073 2,872 3,608 3,169
Change - 138.1% 43.86% -6.53% 25.61% -12.16%
Enterprise Value (EV) 1 1,073 2,318 3,109 2,761 3,411 2,902
Change - 116.06% 34.11% -11.2% 23.54% -14.92%
P/E 8.32x -175x 13.9x 24.8x 43.5x 56.5x
PBR 1.81x 4.41x 4.35x 3.49x 3.98x 3.3x
PEG - 2x -0x -0.5x -1.5x -1.7x
Capitalization / Revenue 3.46x 11x 9.33x 7.36x 9.8x 8.1x
EV / Revenue 4.14x 12x 9.44x 7.08x 9.27x 7.42x
EV / EBITDA 11.9x 36.3x 17.4x 12.9x 19.8x 20.3x
EV / EBIT 26x -3,050x 28.4x 19.5x 33.5x 39.4x
EV / FCF -4.92x -148x 26.6x 26x 71.4x 73.4x
FCF Yield -20.3% -0.68% 3.75% 3.84% 1.4% 1.36%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 1.766 -0.2 3.63 1.898 1.36 0.9197
Distribution rate - - - - - -
Net sales 1 259.4 193.7 329.5 390.1 368.1 391
EBITDA 1 89.8 63.8 179.2 213.6 172.6 143.2
EBIT 1 41.3 -0.76 109.4 141.9 101.8 73.6
Net income 1 107.8 -12.15 221.8 115.9 82.99 56.13
Net Debt 1 175.7 182 35.85 -111.4 -196.9 -267
Reference price 2 14.70 35.00 50.35 47.06 59.11 51.92
Nbr of stocks (in thousands) 61,031 61,031 61,031 61,031 61,031 61,031
Announcement Date 9/2/20 9/2/21 8/30/22 9/5/23 9/2/24 9/1/25
1INR in Million2INR
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 29.22M
35.55x12.84x26.06x0.55% 1,109B
29.74x - - 2.01% 644B
33.42x7.74x16.11x2.62% 463B
20.72x4.91x12.16x2.69% 371B
22.47x5.78x14.33x2.76% 301B
21.12x4.35x12.35x2.02% 256B
27.43x7.09x12.59x2.33% 234B
13.47x4.79x10.05x3.81% 205B
-43.83x6.34x24.76x2.3% 178B
Average 17.79x 6.73x 16.05x 2.34% 376.11B
Weighted average by Cap. 25.34x 8.43x 18.53x 1.91%

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 Zenotech Laboratories Limited