Company Valuation: Torrent Pharmaceuticals Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 473,197 520,309 880,347 1,094,736 1,428,460 1,811,293 - -
Change - 9.96% 69.2% 24.35% 30.48% 26.8% - -
Enterprise Value (EV) 1 508,027 566,719 910,767 1,119,846 1,564,790 1,933,296 1,904,894 1,869,352
Change - 11.55% 60.71% 22.96% 39.73% 23.55% -1.47% -1.87%
P/E 60.9x 57.4x 53.1x 57.3x 66x 70.7x 51.2x 41.2x
PBR 7.95x 8.4x 12.8x 14.4x 17x 12.7x 10.9x 9.36x
PEG - 3.4x 0.6x 3.7x 5x 13.25x 1.3x 1.7x
Capitalization / Revenue 5.56x 5.41x 8.21x 9.51x 10.2x 9.15x 8.13x 7.26x
EV / Revenue 5.97x 5.89x 8.49x 9.72x 11.2x 9.76x 8.55x 7.49x
EV / EBITDA 20.9x 19.9x 27x 30.1x 34.3x 29x 24.5x 21x
EV / EBIT 28.7x 26.5x 34.4x 38.3x 45.5x 44.2x 35.2x 28.9x
EV / FCF 31.8x 31.6x 32.1x 56.7x 66.7x 49.2x 34.9x 30.9x
FCF Yield 3.15% 3.17% 3.11% 1.76% 1.5% 2.03% 2.86% 3.24%
Dividend per Share 2 16.5 22 28 32 38 32.7 38.18 46.78
Rate of return 1.18% 1.43% 1.08% 0.99% 0.9% 0.69% 0.8% 0.98%
EPS 2 22.96 26.79 48.94 56.47 63.92 67.33 92.92 115.4
Distribution rate 71.8% 82.1% 57.2% 56.7% 59.4% 48.6% 41.1% 40.5%
Net sales 1 85,080 96,200 107,280 115,160 139,800 198,060 222,820 249,657
EBITDA 1 24,310 28,420 33,680 37,210 45,590 66,600 77,800 89,023
EBIT 1 17,690 21,350 26,480 29,260 34,400 43,718 54,154 64,773
Net income 1 7,770 12,450 16,560 19,110 21,630 24,722 34,254 43,639
Net Debt 1 34,830 46,410 30,420 25,110 136,330 122,003 93,601 58,060
Reference price 2 1,398.15 1,537.35 2,601.15 3,234.60 4,220.65 4,761.95 4,761.95 4,761.95
Nbr of stocks (in thousands) 338,445 338,445 338,445 338,445 338,445 380,368 - -
Announcement Date 25/05/22 30/05/23 24/05/24 20/05/25 22/05/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
70.73x9.76x29.03x0.69% 18.81B
32.69x11.85x24.08x0.6% 1,025B
28.77x6.4x17.91x2.06% 623B
32.89x7.71x15.93x2.67% 459B
104.62x5.85x24.82x2.37% 355B
18.99x4.63x11.47x2.87% 336B
20.13x5.23x12.95x3.06% 270B
20.27x4.21x12x2.1% 247B
25.72x6.72x11.97x2.48% 220B
-44.61x6.5x25.4x2.23% 183B
Average 31.02x 6.89x 18.55x 2.11% 373.7B
Weighted average by Cap. 31.93x 7.66x 18.76x 1.94%

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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