Company Valuation: ZIM Laboratories Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 1,178 2,596 3,528 4,653 3,908 3,203
Change - 120.48% 35.88% 31.91% -16.02% -18.03%
Enterprise Value (EV) 1 1,987 3,095 4,085 5,672 5,065 4,066
Change - 55.76% 31.98% 38.85% -10.7% -19.73%
P/E 16.1x 17.8x 14.5x 27x 32.1x 50.3x
PBR 0.73x 1.48x 1.76x 1.95x 1.55x 1.08x
PEG - 0.2x 0.2x -0.9x -1.1x -1x
Capitalization / Revenue 0.38x 0.78x 0.89x 1.27x 1.03x 0.86x
EV / Revenue 0.65x 0.93x 1.02x 1.54x 1.34x 1.09x
EV / EBITDA 5.22x 7.98x 8.19x 14.5x 12.8x 16.4x
EV / EBIT 8.26x 12.4x 11.6x 22.1x 20.6x 39.5x
EV / FCF 18.5x 12.8x -29.3x -8.48x -30.4x -26.5x
FCF Yield 5.41% 7.81% -3.41% -11.8% -3.29% -3.78%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 1.5 2.986 5.01 3.539 2.497 1.19
Distribution rate - - - - - -
Net sales 1 3,073 3,335 3,986 3,675 3,791 3,744
EBITDA 1 381 387.9 499 390.6 395.6 248.4
EBIT 1 240.6 250.3 352.6 256.7 245.7 103
Net income 1 73.18 145.5 244.3 172.5 121.7 58.38
Net Debt 1 809.6 498.9 557.4 1,019 1,158 863.1
Reference price 2 24.17 53.28 72.40 95.50 80.20 59.87
Nbr of stocks (in thousands) 48,726 48,726 48,726 48,726 48,726 53,500
Announcement Date 9/8/21 8/26/22 6/16/23 6/5/24 6/3/25 6/5/26
1INR in Million2INR
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 66.73M
35.57x6.72x23.2x0.82% 48.36B
18.36x2.08x9.81x1.3% 35.8B
27.36x3.33x17.24x0.9% 11.83B
26.28x3.88x15.8x0.6% 11.48B
19.15x3.35x12.02x3.48% 9.01B
16.13x2.08x6.99x3.22% 6.99B
8.12x1.9x4.97x5.34% 6.7B
33.27x3.78x16.1x0.24% 6.42B
Average 23.03x 3.39x 13.27x 1.99% 15.19B
Weighted average by Cap. 26.04x 4.14x 15.76x 1.43%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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