Company Valuation: Morepen Laboratories Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 14,462 17,488 13,127 21,500 26,220 18,521
Change - 20.93% -24.94% 63.79% 21.95% -29.36%
Enterprise Value (EV) 1 15,415 18,663 13,162 21,620 26,219 20,059
Change - 21.07% -29.48% 64.27% 21.27% -23.49%
P/E 15x 18.7x 33.4x 22.4x 21.8x 19.5x
PBR 3.4x 3.02x 1.74x 2.54x 2.27x 1.49x
PEG - -2.12x -0.6x 0x 1.3x -0.9x
Capitalization / Revenue 1.21x 1.12x 0.92x 1.26x 1.45x 1.03x
EV / Revenue 1.29x 1.2x 0.93x 1.27x 1.45x 1.11x
EV / EBITDA 12.5x 13.9x 19.2x 14x 16.2x 18.2x
EV / EBIT 15.7x 15.8x 23.5x 15.8x 18.1x 22.5x
EV / FCF -54.9x -13x -47.9x -94x -11.8x -13.5x
FCF Yield -1.82% -7.71% -2.09% -1.06% -8.51% -7.39%
Dividend per Share 2 - - - - 0.2 0.2
Rate of return - - - - 0.42% 0.59%
EPS 2 2.15 1.96 0.77 1.88 2.2 1.731
Distribution rate - - - - 9.09% 11.6%
Net sales 1 11,980 15,558 14,220 17,019 18,116 18,057
EBITDA 1 1,230 1,338 686.6 1,545 1,620 1,101
EBIT 1 981.7 1,180 560.8 1,366 1,451 891.9
Net income 1 970.9 1,017 386.8 961.6 1,180 948.8
Net Debt 1 953.1 1,174 34.98 120.5 -0.928 1,538
Reference price 2 32.15 36.60 25.68 42.06 47.85 33.80
Nbr of stocks (in thousands) 449,826 477,826 511,169 511,169 547,954 547,954
Announcement Date 04/09/21 02/09/22 04/09/23 01/08/24 12/08/25 01/09/26
1INR in Million2INR
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 688M
33.68x12.2x24.79x0.59% 1,056B
30.25x6.73x18.83x1.97% 655B
33.7x7.87x16.27x2.61% 471B
19.34x4.71x11.68x2.82% 342B
20.6x5.35x13.29x2.98% 277B
21.11x4.38x12.46x2.02% 257B
26.41x6.87x12.24x2.41% 226B
-46.04x6.69x26.14x2.16% 189B
11.29x4.12x8.55x4.45% 170B
Average 16.71x 6.55x 16.03x 2.45% 364.36B
Weighted average by Cap. 24.21x 7.89x 18.18x 1.96%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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