Company Valuation: Indo Rama Synthetics (India) Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2020 2021 2022 2023 2024 2025
Market Cap 1 3,003 10,157 17,142 10,202 10,165 8,888
Change - 238.26% 68.77% -40.49% -0.36% -12.56%
Enterprise Value (EV) 1 7,801 14,109 20,400 18,376 22,986 19,829
Change - 80.85% 44.6% -9.92% 25.09% -13.73%
P/E -0.95x 8.96x 6.37x -41.5x -5x 635x
PBR 1.35x 3.05x 2.86x 1.78x 2.76x 2.41x
PEG - -0x 0x 0x -0x -6x
Capitalization / Revenue 0.14x 0.5x 0.42x 0.25x 0.26x 0.21x
EV / Revenue 0.37x 0.69x 0.51x 0.45x 0.59x 0.47x
EV / EBITDA -95.5x 16.4x 6.9x 45x -56.2x 11.4x
EV / EBIT -8.78x 24.6x 7.54x 136x -29.9x 15.4x
EV / FCF -6.95x 20.2x -550x -3.88x -5.82x 12.5x
FCF Yield -14.4% 4.95% -0.18% -25.7% -17.2% 7.97%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -12.14 4.342 10.3 -0.9406 -7.791 0.0536
Distribution rate - - - - - -
Net sales 1 21,264 20,429 40,381 40,849 38,733 42,589
EBITDA 1 -81.7 858.2 2,959 408.1 -408.8 1,739
EBIT 1 -888.2 574.5 2,704 135 -769 1,287
Net income 1 -3,165 1,134 2,691 -245.6 -2,034 14
Net Debt 1 4,798 3,951 3,258 8,174 12,821 10,941
Reference price 2 11.50 38.90 65.65 39.07 38.93 34.04
Nbr of stocks (in thousands) 261,113 261,113 261,113 261,113 261,113 261,113
Announcement Date 31/07/20 30/07/21 30/06/22 04/07/23 03/09/24 01/07/25
1INR in Million2INR
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 135M
14.26x0.59x6.09x2.38% 4.17B
83.61x2.99x12.59x0.68% 1.68B
36.43x - - - 1.25B
34.85x4.71x25.02x1.12% 767M
Average 42.29x 2.77x 14.57x 1.39% 1.6B
Weighted average by Cap. 34.61x 1.68x 9.93x 1.8%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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