Company Valuation: Zydus Lifesciences Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 451,368 356,774 497,549 1,013,630 891,926 1,018,007 - -
Change - -20.96% 39.46% 103.72% -12.01% 14.14% - -
Enterprise Value (EV) 1 474,956 387,665 503,450 1,010,265 894,053 1,011,682 966,488 985,024
Change - -18.38% 29.87% 100.67% -11.5% 13.16% -4.47% 1.92%
P/E ratio 21.2x 7.95x 25.5x 26.4x 19.7x 22.2x 24.6x 21.7x
PBR 3.47x 2.1x 2.84x 5.11x 3.72x 3.65x 3.24x 2.88x
PEG - 0x -0.5x 0.3x 1.1x 15.87x -2.49x 1.6x
Capitalization / Revenue 2.99x 2.34x 2.89x 5.19x 3.84x 3.9x 3.58x 3.32x
EV / Revenue 3.14x 2.54x 2.92x 5.17x 3.85x 3.87x 3.4x 3.21x
EV / EBITDA 14.2x 11.6x 14.1x 19x 13.4x 14.4x 14.3x 13.3x
EV / EBIT 18.2x 14.8x 16x 22.3x 15.5x 17.5x 17.8x 16.6x
EV / FCF 19.5x 43x 30.4x 43.5x 17.7x 33.6x 26.8x 24.6x
FCF Yield 5.14% 2.33% 3.29% 2.3% 5.66% 2.98% 3.73% 4.06%
Dividend per Share 2 3.5 2.5 6 3 11 8.111 7.57 7.604
Rate of return 0.79% 0.72% 1.22% 0.3% 1.24% 0.8% 0.75% 0.75%
EPS 2 20.84 43.83 19.3 38.14 44.97 45.6 41.09 46.53
Distribution rate 16.8% 5.7% 31.1% 7.87% 24.5% 17.8% 18.4% 16.3%
Net sales 1 151,022 152,652 172,374 195,474 232,415 261,273 283,994 306,975
EBITDA 1 33,410 33,407 35,755 53,033 66,755 70,161 67,793 74,056
EBIT 1 26,162 26,277 31,372 45,392 57,597 57,743 54,237 59,236
Net income 1 21,336 44,873 19,603 38,595 45,255 46,584 41,497 47,072
Net Debt 1 23,588 30,891 5,901 -3,365 2,127 -6,324 -51,519 -32,983
Reference price 2 440.90 348.50 491.55 1,007.35 886.40 1,011.70 1,011.70 1,011.70
Nbr of stocks (in thousands) 1,023,743 1,023,743 1,012,204 1,006,234 1,006,234 1,006,234 - -
Announcement Date 5/27/21 5/20/22 5/18/23 5/17/24 5/20/25 - - -
1INR in Million2INR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
22.19x3.87x14.42x0.8% 10.61B
38.88x7.36x25.14x0.8% 46.97B
19.21x2.11x10.09x1.3% 37.28B
27.75x3.75x17.7x0.94% 12.06B
19.53x3.38x12.51x3.49% 9.09B
16.71x2.21x8.37x3.21% 7.5B
8.72x2.07x5.43x5.29% 7.39B
36.28x4x16.64x0.23% 6.84B
49.65x - - - 5.77B
Average 26.55x 3.59x 13.79x 2.01% 15.95B
Weighted average by Cap. 27.97x 4.36x 16.36x 1.47%

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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