Company Valuation: SEPC Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 3,876 7,345 13,810 23,487 21,969 7,599
Change - 89.47% 88.02% 70.08% -6.46% -65.41%
Enterprise Value (EV) 1 12,133 17,071 17,551 27,731 25,386 10,728
Change - 40.69% 2.81% 58.01% -8.46% -57.74%
P/E -2.16x -2.79x -261x 98x 87.8x 16.4x
PBR 0.39x 1x 1.27x 1.94x 1.46x 0.49x
PEG - -0.1x 2.6x -0x -14.93x 0.2x
Capitalization / Revenue 0.67x 2.23x 3.65x 4.19x 3.68x 0.72x
EV / Revenue 2.08x 5.18x 4.63x 4.94x 4.25x 1.02x
EV / EBITDA -15.6x -36.9x -27.6x 109x 51x 14x
EV / EBIT -14.5x -33x -25.4x 132x 55.8x 14.8x
EV / FCF -54.2x -23.8x 17.4x -14x -16.7x -3.69x
FCF Yield -1.85% -4.2% 5.75% -7.13% -5.99% -27.1%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -1.85 -2.714 -0.0401 0.17 0.16 0.296
Distribution rate - - - - - -
Net sales 1 5,828 3,295 3,788 5,610 5,977 10,545
EBITDA 1 -779.6 -462.4 -636.2 254.3 497.5 767.8
EBIT 1 -835 -517.7 -691.1 209.4 454.9 727
Net income 1 -1,795 -2,637 -49.04 227.8 248.4 535.4
Net Debt 1 8,257 9,726 3,741 4,243 3,417 3,128
Reference price 2 3.990 7.560 10.450 16.660 14.050 4.860
Nbr of stocks (in thousands) 971,529 971,529 1,321,529 1,409,814 1,563,660 1,563,660
Announcement Date 9/7/21 A 8/26/22 A 8/30/23 A 6/27/24 A 9/5/25 A 9/5/26 A
1INR in Million2INR
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 103M
58.37x2.69x25.68x0.06% 102B
11.76x1.02x5.57x4.97% 66.61B
35.58x4.48x24.33x0.19% 60.72B
24.84x1.93x18.95x1.19% 52.74B
49.38x3.96x25.08x1.96% 38.53B
24.02x1.64x15.14x0.19% 34.7B
27.92x0.7x11.55x2.21% 34.5B
22.53x0.44x7.03x2.74% 29.63B
5.01x0.31x5.98x5.63% 26.75B
Average 28.82x 1.91x 15.48x 2.13% 44.6B
Weighted average by Cap. 32.95x 2.18x 17.31x 1.8%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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