| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| ABBOTINDIA | APLLTD | ZYDUSLIFE | GLAXO | LUPIN | | GLENMARK | |
| NSEI:ABBOTINDIA | NSEI:APLLTD | NSEI:ZYDUSLIFE | NSEI:GLAXO | NSEI:LUPIN | | NSEI:GLENMARK | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 9.7% | 9.6% | 8.2% | 2.0% | 6.4% | | 5.1% | |
| 3Y CAGR | 10.7% | 4.9% | 10.7% | 5.7% | 9.7% | | 4.9% | |
| Latest Twelve Months | 8.5% | 4.9% | 16.9% | 11.9% | 12.9% | | 6.1% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 21.2% | 14.7% | 18.9% | 22.0% | 10.1% | | 13.6% | |
| Prior Fiscal Year | 21.1% | 7.7% | 16.6% | 23.0% | 5.1% | | 9.8% | |
| Latest Fiscal Year | 23.6% | 10.6% | 23.2% | 24.3% | 13.9% | | 11.4% | |
| Latest Twelve Months | 24.4% | 11.2% | 24.6% | 27.8% | 18.8% | | 18.7% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 10.29x | 2.99x | 4.01x | 12.59x | 4.23x | | 3.11x | |
| EV / LTM EBIT | 42.2x | 26.8x | 16.3x | 45.2x | 22.5x | | 16.6x | |
| Price / LTM Sales | 10.46x | 2.85x | 4.01x | 13.16x | 4.21x | | 3.11x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 2.99x | 4.23x | 12.59x | | | | | |
| Historical EV / LTM Revenue | 0.78x | 1.30x | 2.40x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 2.89x | 3.04x | 3.19x | | | | | |
| (x) LTM Revenue | 139,608 | 139,608 | 139,608 | | | | | |
| (=) Implied Enterprise Value | 403,137 | 424,354 | 445,572 | | | | | |
| (-) Non-shareholder Claims * | 394 | 394 | 394 | | | | | |
| (=) Equity Value | 403,531 | 424,748 | 445,966 | | | | | |
| (/) Shares Outstanding | 282.2 | 282.2 | 282.2 | | | | | |
| Implied Value Range | 1,430.01 | 1,505.20 | 1,580.39 | | | | | |
| FX Rate: INR/INR | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 1,430.01 | 1,505.20 | 1,580.39 | | 1,509.20 | | | |
| Upside / (Downside) | -5.2% | -0.3% | 4.7% | | | | | |