Company Valuation: Indokem Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 610.6 1,146 2,515 2,747 5,253 13,787
Change - 87.65% 119.53% 9.21% 91.22% 162.46%
Enterprise Value (EV) 1 696.5 1,262 2,673 2,947 5,440 14,022
Change - 81.23% 111.78% 10.23% 84.63% 157.74%
P/E 20.6x 40.6x 811x -44.4x 166x 738x
PBR 1.91x 3.29x 7.16x 4.68x 8.5x 21.4x
PEG - -8.69x -9.1x 0x -1x -18x
Capitalization / Revenue 0.77x 1.01x 2.25x 1.67x 2.95x 8.14x
EV / Revenue 0.88x 1.11x 2.39x 1.79x 3.05x 8.27x
EV / EBITDA 11.8x 25.9x 112x -254x 71.9x 238x
EV / EBIT 14.4x 33.3x 228x -96.3x 94x 347x
EV / FCF -42.3x -26.4x -54.6x 126x -3,400x -97.4x
FCF Yield -2.36% -3.78% -1.83% 0.79% -0.03% -1.03%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 1.217 1.16 0.1274 -2.22 1.137 0.67
Distribution rate - - - - - -
Net sales 1 792.5 1,136 1,119 1,648 1,781 1,695
EBITDA 1 59.1 48.7 23.9 -11.6 75.7 59
EBIT 1 48.2 37.9 11.7 -30.6 57.9 40.4
Net income 1 29.6 28.3 3.1 -61.9 31.7 18.7
Net Debt 1 85.9 116.5 157.9 199.7 187.7 235.5
Reference price 2 25.10 47.10 103.40 98.50 188.35 494.35
Nbr of stocks (in thousands) 24,326 24,326 24,326 27,888 27,888 27,888
Announcement Date 06/09/21 05/09/22 07/08/23 28/08/24 01/09/25 24/08/26
1INR in Million2INR
Estimates


P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 187M
40.49x5.45x22.17x0.95% 85.83B
34.99x5.29x22.55x1.83% 45.21B
26.37x3.08x16.1x1.99% 37.66B
16.98x1.74x9.66x2.45% 36.86B
36x6.73x17.79x1.66% 30.59B
14.92x1.42x8.83x2.16% 26.13B
38.96x9.44x28.95x2.35% 23.66B
30.42x3.1x12.48x1.53% 20.79B
7.36x2.1x4.22x3.55% 15.55B
Average 27.39x 4.26x 15.86x 2.05% 32B
Weighted average by Cap. 30.52x 4.50x 17.59x 1.8%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Indokem Limited

Historical PBR trend

Valuation ratios - PBR - Indokem Limited

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Indokem Limited

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Indokem Limited

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