Company Valuation: Black Rose Industries Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2020 2021 2022 2023 2024 2025
Market Cap 1 3,884 8,866 9,976 5,419 6,237 4,557
Change - 128.3% 12.51% -45.68% 15.11% -26.94%
Enterprise Value (EV) 1 4,082 9,002 10,028 5,324 6,031 4,642
Change - 120.51% 11.4% -46.91% 13.27% -23.03%
P/E 18.8x 32.3x 31.3x 68.5x 29.4x 21.8x
PBR 5.76x 9.54x 8.15x 4.26x 4.3x 2.98x
PEG - 1x 1.9x -0.9x 0x -17.05x
Capitalization / Revenue 1.04x 2.33x 2.04x 1.26x 1.64x 1.16x
EV / Revenue 1.1x 2.37x 2.06x 1.24x 1.59x 1.19x
EV / EBITDA 12.6x 22.7x 22.2x 38.8x 21.6x 16x
EV / EBIT 13.5x 24.2x 23.4x 48.6x 24.1x 17.8x
EV / FCF 54x 278x 212x 45.2x 60x -21.1x
FCF Yield 1.85% 0.36% 0.47% 2.21% 1.67% -4.74%
Dividend per Share 2 0.35 0.45 0.55 0.55 0.55 1.05
Rate of return 0.46% 0.26% 0.28% 0.52% 0.45% 1.18%
EPS 2 4.05 5.38 6.25 1.55 4.16 4.107
Distribution rate 8.64% 8.36% 8.8% 35.5% 13.2% 25.6%
Net sales 1 3,726 3,798 4,879 4,304 3,804 3,912
EBITDA 1 323.5 395.7 451.8 137.4 278.8 290.1
EBIT 1 302.3 372.7 428 109.6 250.7 260.8
Net income 1 206.7 274.4 319 79.19 212.3 209.4
Net Debt 1 198.6 135.6 52.75 -94.46 -206.6 85.26
Reference price 2 76.15 173.85 195.60 106.25 122.30 89.35
Nbr of stocks (in thousands) 51,000 51,000 51,000 51,000 51,000 51,000
Announcement Date 9/7/20 9/7/21 9/7/22 9/7/23 8/31/24 9/5/25
1INR in Million2INR
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 52.08M
28.1x4.43x18.92x2.27% 37.17B
22.83x2.72x14.12x2.34% 32.51B
15.25x1.45x9.17x2.07% 25.08B
12.51x3.1x6.64x3.22% 22.76B
34.01x8.16x25.19x2.73% 20.58B
27.03x2.87x11.73x1.83% 19.33B
15.37x3.2x6.91x1.02% 18.91B
30.66x3.63x14.59x0.35% 13.59B
22.14x2.68x12.3x1.53% 13.53B
Average 23.10x 3.58x 13.29x 1.93% 20.35B
Weighted average by Cap. 23.02x 3.59x 13.68x 2.07%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation Black Rose Industries Limited
-40%: Exceptional extension
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