Company Valuation: Bharat Electronics Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 513,756 713,069 1,472,555 2,201,705 2,928,297 2,751,766 - -
Change - 38.8% 106.51% 49.52% 33% -6.03% - -
Enterprise Value (EV) 1 438,628 633,592 1,363,187 2,108,345 2,844,765 2,617,424 2,587,572 2,528,516
Change - 44.45% 115.15% 54.66% 34.93% -7.99% -1.14% -2.28%
P/E 21.9x 23.7x 36.6x 41.7x 48.4x 39.5x 33.8x 29.1x
PBR 4.29x 5.25x 9.16x 11.2x 12.4x 9.62x 8.05x 6.76x
PEG - 0.8x 1.1x 1.3x 3.4x 2.6x 2x 1.8x
Capitalization / Revenue 3.35x 4.04x 7.3x 9.31x 10.7x 8.61x 7.42x 6.46x
EV / Revenue 2.86x 3.59x 6.76x 8.91x 10.4x 8.19x 6.98x 5.94x
EV / EBITDA 13.3x 15.7x 27.3x 31.2x 35.5x 28.4x 24.2x 20.4x
EV / EBIT 15x 17.4x 29.7x 33.3x 38x 30.3x 25.8x 21.9x
EV / FCF 12.2x 107x 34x -403x 556x 39x 45.5x 38.6x
FCF Yield 8.22% 0.94% 2.94% -0.25% 0.18% 2.57% 2.2% 2.59%
Dividend per Share 2 1.5 1.8 2.8 2.4 2.5 3.66 4.124 4.718
Rate of return 2.13% 1.85% 1.39% 0.8% 0.62% 0.97% 1.1% 1.25%
EPS 2 3.213 4.11 5.5 7.23 8.27 9.53 11.14 12.94
Distribution rate 46.7% 43.8% 50.9% 33.2% 30.2% 38.4% 37% 36.5%
Net sales 1 153,138 176,462 201,694 236,580 274,796 319,531 370,947 425,899
EBITDA 1 33,092 40,475 49,982 67,676 80,153 92,013 106,811 123,661
EBIT 1 29,291 36,396 45,857 63,320 74,914 86,249 100,403 115,721
Net income 1 23,489 30,067 40,200 52,882 60,485 69,662 81,392 94,652
Net Debt 1 -75,128 -79,477 -109,368 -93,361 -83,532 -134,342 -164,194 -223,251
Reference price 2 70.28 97.55 201.45 301.20 400.60 376.45 376.45 376.45
Nbr of stocks (in thousands) 7,309,779 7,309,779 7,309,779 7,309,779 7,309,779 7,309,779 - -
Announcement Date 23/05/22 20/05/23 20/05/24 19/05/25 19/05/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
39.5x8.19x28.45x0.97% 29.05B
35.3x6.31x26.32x0.61% 310B
31.6x2.98x17.46x1.48% 261B
26.09x1.74x12.87x1.75% 172B
-517.41x1.78x40.76x-.--% 151B
30.87x4.52x18.88x1.11% 147B
31.35x3.43x15.55x1.32% 146B
18.04x1.74x12.45x2.55% 127B
20.26x1.72x14.05x1.84% 93.05B
38.41x8.68x26.94x0.25% 84.4B
Average -24.60x 4.11x 21.37x 1.19% 151.88B
Weighted average by Cap. -24.08x 3.83x 21.12x 1.17%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Bharat Electronics Limited

Historical PBR trend

Valuation ratios - PBR - Bharat Electronics Limited

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Bharat Electronics Limited

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Bharat Electronics Limited


Year-on-year evolution of the Yield

Valuation ratios - Yield - Bharat Electronics Limited
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