Company Valuation: Lodha Developers Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 542,272 448,208 1,129,553 1,192,893 879,413 - -
Change - -17.35% 152.02% 5.61% -26.28% - -
Enterprise Value (EV) 1 641,286 520,452 1,180,004 1,246,418 930,025 926,265 916,069
Change - -18.84% 126.73% 5.63% -25.38% -0.4% -1.1%
P/E ratio 42.9x 92.2x 71x 43.2x 25.8x 20.8x 17.6x
PBR 4.48x 7.06x 6.47x 5.91x 3.78x 3.25x 2.82x
PEG - -1.5x 0x 0.6x 1.1x 0.9x 1x
Capitalization / Revenue 5.87x 4.73x 10.9x 8.66x 5.21x 4.4x 3.85x
EV / Revenue 6.95x 5.5x 11.4x 9.05x 5.51x 4.63x 4.01x
EV / EBITDA 30.2x 25.2x 44.1x 31.3x 18.9x 15.5x 13.4x
EV / EBIT 31.3x 26.4x 47.7x 33.5x 19.8x 16.1x 14.3x
EV / FCF 32.8x 19.5x 50.3x 114x 41.3x 32.8x 35.9x
FCF Yield 3.05% 5.14% 1.99% 0.88% 2.42% 3.05% 2.79%
Dividend per Share 2 - 1 2.25 4.25 4.138 4.846 5.33
Rate of return - 0.21% 0.2% 0.36% 0.47% 0.55% 0.61%
EPS 2 13.12 5.045 15.99 27.67 34.13 42.33 49.93
Distribution rate - 19.8% 14.1% 15.4% 12.1% 11.4% 10.7%
Net sales 1 92,332 94,704 103,161 137,795 168,767 199,973 228,170
EBITDA 1 21,247 20,661 26,757 39,880 49,315 59,773 68,150
EBIT 1 20,499 19,733 24,718 37,161 46,962 57,565 64,024
Net income 1 12,024 4,866 15,491 27,643 33,520 41,608 48,489
Net Debt 1 99,013 72,244 50,451 53,525 50,611 46,852 36,656
Reference price 2 563.10 465.15 1,135.85 1,195.80 880.40 880.40 880.40
Nbr of stocks (in thousands) 963,013 963,578 994,456 997,569 998,879 - -
Announcement Date 26/04/22 22/04/23 24/04/24 24/04/25 - - -
1INR in Million2INR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
25.79x5.51x18.86x0.47% 9.54B
17.55x5.24x14.61x2.85% 50.69B
27.61x5x20.99x0.92% 38.23B
19.66x3.59x17.79x1.77% 33.33B
5.19x0.58x1.14x8.23% 29.24B
21.65x7.97x22.59x0.88% 29.18B
8.1x1.22x6.65x4.4% 27.92B
15.86x1.01x6.68x2.35% 22.02B
12.91x3.08x10.64x3.7% 21.23B
Average 17.15x 3.69x 13.33x 2.84% 29.04B
Weighted average by Cap. 17.14x 3.83x 13.65x 2.92%

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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