Company Valuation: Cholamandalam Investment and Finance Company Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 589,754 626,066 971,508 1,278,412 1,153,531 1,541,471 - -
Change - 6.16% 55.18% 31.59% -9.77% 33.63% - -
Enterprise Value (EV) 1 589,754 1,570,012 2,273,042 2,933,867 3,116,082 3,916,481 4,458,674 5,138,517
Change - 166.21% 44.78% 29.07% 6.21% 25.69% 13.84% 15.25%
P/E 27.5x 23.5x 28.1x 30.1x 21.9x 23.5x 19x 15.4x
PBR 5.04x 4.38x 4.97x 5.41x 3.8x 4.21x 3.47x 2.86x
PEG - 1x 1x 1.3x 1x 0.9x 0.8x 0.7x
Capitalization / Revenue 10.1x 8.66x 9.73x 9.42x 6.76x 7.49x 6.2x 5.16x
EV / Revenue 10.1x 21.7x 22.8x 21.6x 18.3x 19x 17.9x 17.2x
EV / EBITDA 21.1x 46.5x 54x 54.1x 46x 46.2x 41.7x 39.3x
EV / EBIT 15.6x 123x 38.5x 35.6x 29.7x 31x 29.1x 27.4x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 2 2 2 2 - 2.68 3.144 3.708
Rate of return 0.28% 0.26% 0.17% 0.13% - 0.15% 0.17% 0.21%
EPS 2 26.11 32.4 41.09 50.55 61.68 77.04 95.15 117.3
Distribution rate 7.66% 6.17% 4.87% 3.96% - 3.48% 3.3% 3.16%
Net sales 1 58,400 72,292 99,857 135,699 170,706 205,920 248,555 298,478
EBITDA 1 28,005 33,788 42,110 54,277 67,789 84,739 106,932 130,681
EBIT 1 37,712 12,731 59,039 82,311 104,965 126,526 153,301 187,465
Net income 1 21,467 26,662 34,228 42,585 52,196 65,699 81,495 101,531
Net Debt 1 - 943,946 1,301,534 1,655,454 1,962,552 2,375,010 2,917,203 3,597,045
Reference price 2 718.30 761.60 1,156.60 1,519.55 1,353.85 1,808.55 1,808.55 1,808.55
Nbr of stocks (in thousands) 821,041 822,040 839,969 841,310 852,037 852,324 - -
Announcement Date 05/05/22 03/05/23 30/04/24 25/04/25 30/04/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
33.05x18.23x - 0.5% 66.38B
27.31x4.46x15.06x-.--% 40.72B
28.48x3.04x16.96x0.07% 32.03B
18.11x12.34x23.48x1.14% 25.77B
7.77x1.77x - 1.76% 24.37B
31.35x4.74x13.88x-.--% 24.09B
30.01x - - - 15.94B
13.15x - - 1.26% 13.17B
Average 23.65x 7.43x 17.35x 0.68% 30.31B
Weighted average by Cap. 25.90x 9.21x 17.10x 0.55%

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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