Company Valuation: Bata India Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 180,536 252,165 182,381 175,344 156,726 116,427 - -
Change - 39.68% -27.67% -3.86% -10.62% -25.71% - -
Enterprise Value (EV) 1 169,601 242,516 177,149 171,314 150,488 108,423 107,012 104,946
Change - 42.99% -26.95% -3.29% -12.16% -27.95% -1.3% -1.93%
P/E ratio -200x 250x 57.1x 67.5x 47.7x 61x 39.7x 33.4x
PBR 10.3x 13.9x 12.7x 11.5x 10x 7.18x 6.84x 6.25x
PEG - -1x 0x -3.6x 1.8x -1.5x 0.7x 1.8x
Capitalization / Revenue 10.6x 10.6x 5.28x 5.04x 4.49x 3.3x 3.03x 2.81x
EV / Revenue 9.93x 10.2x 5.13x 4.93x 4.31x 3.08x 2.78x 2.54x
EV / EBITDA 105x 58.3x 22.4x 21.9x 20.5x 14.4x 12.1x 10.7x
EV / EBIT -164x 140x 35.7x 38.5x 41.4x 31.4x 23.7x 20.3x
EV / FCF 40.3x 149x 33.2x 47.8x 22.6x 19x 16.3x 14.5x
FCF Yield 2.48% 0.67% 3.01% 2.09% 4.42% 5.27% 6.13% 6.88%
Dividend per Share 2 4 4 13.5 12 9 15.9 20.41 23.5
Rate of return 0.28% 0.2% 0.95% 0.88% 0.74% 1.76% 2.25% 2.59%
EPS 2 -7.02 7.85 24.83 20.22 25.55 14.85 22.82 27.11
Distribution rate -57% 51% 54.4% 59.3% 35.2% 107% 89.5% 86.7%
Net sales 1 17,073 23,877 34,516 34,784 34,880 35,232 38,426 41,374
EBITDA 1 1,612 4,157 7,909 7,835 7,351 7,520 8,834 9,805
EBIT 1 -1,036 1,737 4,961 4,449 3,639 3,451 4,522 5,166
Net income 1 -902.8 1,009 3,191 2,599 3,284 1,882 2,863 3,485
Net Debt 1 -10,936 -9,648 -5,232 -4,029 -6,239 -8,004 -9,414 -11,481
Reference price 2 1,404.65 1,961.95 1,419.00 1,364.25 1,219.40 905.85 905.85 905.85
Nbr of stocks (in thousands) 128,528 128,528 128,528 128,528 128,528 128,528 - -
Announcement Date 6/9/21 5/25/22 5/18/23 5/29/24 5/28/25 - - -
1INR in Million2INR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
61.14x3.08x14.45x1.75% 1.29B
15.88x2.39x10.41x-.--% 14.82B
17.91x2.12x10.43x3.9% 8.55B
18.05x3.11x10.24x-.--% 7.85B
-51.95x1.31x5.44x-.--% 4.43B
-6.35x0.67x17.5x-.--% 3.86B
9.87x0.38x3.84x7.3% 3.52B
8.34x0.38x2.3x3.55% 2.89B
18.85x1.51x10.77x3.23% 1.99B
Average 10.19x 1.66x 9.49x 2.19% 5.47B
Weighted average by Cap. 9.16x 1.95x 9.67x 1.58%
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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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