Company Valuation: Ipca Laboratories Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 270,385 205,589 313,934 381,038 406,231 504,263 - -
Change - -23.96% 52.7% 21.38% 6.61% 24.13% - -
Enterprise Value (EV) 1 275,070 201,870 325,349 391,231 408,673 493,613 484,306 472,119
Change - -26.61% 61.17% 20.25% 4.46% 20.78% -1.89% -2.52%
P/E 30.6x 43.6x 57.4x 51.6x 35.6x 33.2x 28.4x 24.8x
PBR 4.92x 2.58x 4.96x 5.48x 5.04x 5.29x 4.55x 3.89x
PEG - -0.9x 3.6x 1.5x 0.7x 1x 1.7x 1.7x
Capitalization / Revenue 4.64x 3.29x 4.07x 4.26x 4.21x 4.59x 4.11x 3.71x
EV / Revenue 4.72x 3.23x 4.22x 4.38x 4.24x 4.49x 3.95x 3.47x
EV / EBITDA 21x 21.8x 24.6x 22.7x 20.7x 19.6x 16.6x 14.2x
EV / EBIT 25.6x 30.3x 33.8x 29.5x 26.2x 24x 20.5x 17.4x
EV / FCF 72.9x 64.8x 60.9x 71.7x 83.5x 63.1x 40.1x 30.1x
FCF Yield 1.37% 1.54% 1.64% 1.4% 1.2% 1.59% 2.49% 3.32%
Dividend per Share 2 8 4 4 2 6 5.769 6.185 7.114
Rate of return 0.75% 0.49% 0.32% 0.13% 0.37% 0.29% 0.31% 0.36%
EPS 2 34.85 18.58 21.57 29.08 44.98 59.87 69.92 80.13
Distribution rate 23% 21.5% 18.5% 6.88% 13.3% 9.64% 8.84% 8.88%
Net sales 1 58,298 62,443 77,050 89,396 96,463 109,955 122,660 136,008
EBITDA 1 13,073 9,268 13,212 17,261 19,786 25,244 29,171 33,139
EBIT 1 10,748 6,652 9,639 13,283 15,604 20,577 23,583 27,169
Net income 1 8,841 4,713 5,474 7,377 11,411 15,145 17,797 20,425
Net Debt 1 4,685 -3,720 11,415 10,193 2,442 -10,650 -19,956 -32,144
Reference price 2 1,065.75 810.35 1,237.40 1,501.90 1,601.20 1,987.60 1,987.60 1,987.60
Nbr of stocks (in thousands) 253,704 253,704 253,704 253,704 253,704 253,704 - -
Announcement Date 24/05/22 29/05/23 29/05/24 29/05/25 29/05/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
33.2x4.49x19.55x0.29% 5.31B
33.02x11.99x24.3x0.6% 1,034B
29.7x - - 1.98% 654B
33.18x7.69x15.99x2.64% 459B
19.36x4.61x11.42x2.88% 343B
22.91x5.89x14.6x2.71% 307B
20.82x4.27x12.21x2.06% 251B
27.71x7.15x12.7x2.3% 237B
13.18x4.74x9.88x3.82% 202B
-45.81x6.6x25.78x2.2% 186B
Average 18.73x 6.38x 16.27x 2.15% 367.69B
Weighted average by Cap. 24.09x 8.03x 17.80x 1.95%

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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  3. IPCALAB Stock
  4. Valuation Ipca Laboratories Limited