Company Valuation: Aplab Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2020 2021 2022 2023 2024 2025
Market Cap 1 27.2 86.25 250 302.8 821.8 558.8
Change - 217.1% 189.86% 21.12% 171.39% -32%
Enterprise Value (EV) 1 705.3 777.1 707.3 789.8 1,062 820.3
Change - 10.17% -8.97% 11.66% 34.51% -22.78%
P/E 10.5x -22.3x 145x 151x 130x 223x
PBR -0.1x -0.33x -1.2x -1.53x 11.3x 6.11x
PEG - 0x -1x 9.4x 1x -3.7x
Capitalization / Revenue 0.05x 0.16x 0.49x 0.59x 1.66x 0.88x
EV / Revenue 1.37x 1.43x 1.38x 1.53x 2.14x 1.29x
EV / EBITDA 16.8x 12.4x 9.83x 13.7x 22.7x -14.6x
EV / EBIT 22.2x 13.2x 10.4x 14.9x 25x -13.4x
EV / FCF -12x -690x 3.57x -82.6x -33.2x -57.7x
FCF Yield -8.33% -0.14% 28% -1.21% -3.01% -1.73%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 0.52 -0.7744 0.1723 0.2 0.57 0.226
Distribution rate - - - - - -
Net sales 1 516 543.4 513.6 514.9 495.4 636.7
EBITDA 1 42.06 62.55 71.95 57.64 46.87 -56.21
EBIT 1 31.83 58.76 68.17 53.15 42.46 -61.01
Net income 1 2.076 -3.872 1.723 2.047 7.992 2.639
Net Debt 1 678.1 690.8 457.3 487 240.6 261.5
Reference price 2 5.44 17.25 25.00 30.28 74.10 50.39
Nbr of stocks (in thousands) 5,000 5,000 10,000 10,000 11,090 11,090
Announcement Date 07/09/20 16/11/21 14/09/22 08/09/23 31/08/24 08/09/25
1INR in Million2INR
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 23.48M
34.89x11.96x22.31x0.82% 111B
58.64x8.69x41.19x1.37% 52.71B
29.98x1.39x16.01x-.--% 44.38B
25.64x2.08x9.96x1.3% 36.05B
34x2.19x15.67x1.53% 29.23B
31.15x4.67x18.66x-.--% 29.23B
9.07x5.24x10.44x2.14% 22.3B
32.22x4.91x19.67x0.72% 18.72B
28.44x1.61x14.05x0.42% 14.25B
Average 31.56x 4.75x 18.66x 0.92% 35.74B
Weighted average by Cap. 34.46x 6.57x 21.02x 0.9%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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