Company Valuation: Morepen Laboratories Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2020 2021 2022 2023 2024 2025
Market Cap 1 4,291 14,462 17,488 13,127 21,500 26,220
Change - 237% 20.93% -24.94% 63.79% 21.95%
Enterprise Value (EV) 1 5,486 15,415 18,663 13,162 21,620 26,219
Change - 180.98% 21.07% -29.48% 64.27% 21.27%
P/E 12.8x 15x 18.7x 33.4x 22.4x 21.8x
PBR 1.51x 3.4x 3.02x 1.74x 2.54x 2.27x
PEG - 0x -2.12x -0.6x 0x 1.3x
Capitalization / Revenue 0.5x 1.21x 1.12x 0.92x 1.26x 1.45x
EV / Revenue 0.64x 1.29x 1.2x 0.93x 1.27x 1.45x
EV / EBITDA 8.19x 12.5x 13.9x 19.2x 14x 16.2x
EV / EBIT 14.9x 15.7x 15.8x 23.5x 15.8x 18.1x
EV / FCF -31.9x -54.9x -13x -47.9x -94x -11.8x
FCF Yield -3.13% -1.82% -7.71% -2.09% -1.06% -8.51%
Dividend per Share 2 - - - - - 0.2
Rate of return - - - - - 0.42%
EPS 2 0.7465 2.15 1.96 0.77 1.88 2.2
Distribution rate - - - - - 9.09%
Net sales 1 8,584 11,980 15,558 14,220 17,019 18,116
EBITDA 1 670.3 1,230 1,338 686.6 1,545 1,620
EBIT 1 369 981.7 1,180 560.8 1,366 1,451
Net income 1 335.8 970.9 1,017 386.8 961.6 1,180
Net Debt 1 1,195 953.1 1,174 34.98 120.5 -0.928
Reference price 2 9.54 32.15 36.60 25.68 42.06 47.85
Nbr of stocks (in thousands) 449,826 449,826 477,826 511,169 511,169 547,954
Announcement Date 05/09/20 04/09/21 02/09/22 04/09/23 01/08/24 12/08/25
1INR in Million2INR
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
33.76x12.18x24.85x0.59% 1,052B
28.96x - - 2.06% 627B
31.84x7.42x15.42x2.75% 441B
19.79x4.7x11.65x2.81% 349B
21.42x5.54x13.77x2.89% 287B
19.89x4.11x11.68x2.14% 241B
26.26x6.84x12.14x2.43% 224B
13.32x4.79x9.96x3.83% 202B
-42.28x6.13x23.96x2.38% 172B
Average 17.00x 6.46x 15.43x 2.43% 399.46B
Weighted average by Cap. 24.17x 8.04x 17.73x 2%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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