That would make Mamaearth one of the most expensive companies in terms of valuations. Based on a net profit of Rs14 crore in FY22, its price-to-earnings (PE) ratio works out to 1,714.28 times. That sparked questions on how a company’s valuation can more than double to $3 billion in less than a year. “The way everyone is talking about Mamaearth, it looks like the IPO will be withdrawn even before it takes off. Prime Database analysis showed 40 companies collectively raised Rs59,412 crore in 2022 compared to a record Rs118,723 crore raised by 63 IPOs in 2021.

Source: Forbes January 09, 2023 11:25 UTC