Company Valuation: Ramkrishna Forgings Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 25,167 45,744 124,962 139,991 85,222 127,601 -
Change - 81.77% 173.17% 12.03% -39.12% 49.73% -
Enterprise Value (EV) 1 25,167 45,744 128,308 156,410 102,212 141,396 139,960
Change - 81.77% 180.49% 21.9% -34.65% 38.34% -1.02%
P/E 12.2x 19.5x 36x 34.8x 98x 46.4x 35x
PBR 2.3x 3.45x 4.68x 4.65x 2.59x 3.22x 2.97x
PEG - 1.4x 1.2x 2.2x -1.2x 0x 1.1x
Capitalization / Revenue 1.1x 1.52x 3.58x 3.85x 2.27x 2.83x 2.62x
EV / Revenue 1.1x 1.52x 3.68x 4.3x 2.72x 3.13x 2.87x
EV / EBITDA 4.78x 6.85x 16.2x 32x 18x 17.4x 15.7x
EV / EBIT 7.03x 9.8x 23.4x 62.9x 36.1x 30.7x 28.8x
EV / FCF -9.69x 10.8x 149x -24.6x 435x 78.2x 38.1x
FCF Yield -10.3% 9.24% 0.67% -4.06% 0.23% 1.28% 2.63%
Dividend per Share 2 0.5 1 2 2 - 1 1.7
Rate of return 0.32% 0.35% 0.29% 0.26% - 0.14% 0.24%
EPS 2 12.91 14.65 19.19 22.22 4.76 15.1 20.03
Distribution rate 3.87% 6.83% 10.4% 9% - 6.62% 8.49%
Net sales 1 22,854 30,010 34,896 36,343 37,549 45,140 48,750
EBITDA 1 5,270 6,682 7,939 4,893 5,664 8,120 8,896
EBIT 1 3,579 4,668 5,495 2,487 2,835 4,604 4,856
Net income 1 2,065 2,356 3,261 4,018 865.1 2,574 3,364
Net Debt 1 - - 3,346 16,419 16,990 13,795 12,359
Reference price 2 157.40 286.10 691.25 773.30 466.60 700.45 700.45
Nbr of stocks (in thousands) 159,890 159,890 180,776 181,031 182,646 182,170 -
Announcement Date 03/05/22 28/04/23 02/05/24 01/06/25 01/05/26 - -
1INR in Million2INR
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
46.39x3.13x17.41x0.14% 1.32B
8.86x1.85x4.81x7.17% 60.91B
13.51x1.5x7.81x0.89% 57.04B
16.28x0.84x6.96x0.97% 48.69B
13.92x2.34x5.31x4.37% 34.7B
14.29x1.56x9.04x0.88% 34.55B
20.12x1.77x9.79x0.58% 31.23B
12.73x1.14x6.91x2.36% 23.07B
11.32x0.75x6.62x3.77% 21.14B
17.51x1.26x11.45x1.22% 20.84B
Average 17.49x 1.61x 8.61x 2.23% 33.35B
Weighted average by Cap. 14.00x 1.50x 7.32x 2.68%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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