Company Valuation: Voltas Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 412,084 270,746 365,148 482,662 421,150 439,316 - -
Change - -34.3% 34.87% 32.18% -12.74% 4.31% - -
Enterprise Value (EV) 1 409,975 269,822 363,758 484,512 423,005 426,315 423,919 425,235
Change - -34.19% 34.81% 33.2% -12.69% 0.78% -0.56% 0.31%
P/E 81.8x 201x 145x 57.4x 112x 55.4x 39.3x 32.4x
PBR 7.49x 4.97x 6.27x 7.41x 6.6x 6.34x 5.68x 5.2x
PEG - -2.7x 1.7x 0x -2x 0x 1x 1.5x
Capitalization / Revenue 5.19x 2.85x 2.93x 3.13x 2.96x 2.57x 2.22x 1.97x
EV / Revenue 5.17x 2.84x 2.91x 3.14x 2.97x 2.5x 2.14x 1.91x
EV / EBITDA 60.2x 47.1x 76.6x 43.4x 65.4x 39.6x 29.5x 25.8x
EV / EBIT 63.6x 50.6x 85.2x 46x 75.2x 42.9x 31.3x 27.3x
EV / FCF 76.5x -1,494x 76.9x -112x -685x 79.9x 64x 47.7x
FCF Yield 1.31% -0.07% 1.3% -0.89% -0.15% 1.25% 1.56% 2.1%
Dividend per Share 2 5.5 4.25 5.5 7 4 6.821 8.936 10.87
Rate of return 0.44% 0.52% 0.5% 0.48% 0.31% 0.51% 0.67% 0.82%
EPS 2 15.23 4.08 7.62 25.43 11.35 23.97 33.75 41.03
Distribution rate 36.1% 104% 72.2% 27.5% 35.2% 28.5% 26.5% 26.5%
Net sales 1 79,344 94,988 124,812 154,128 142,445 170,699 198,241 222,800
EBITDA 1 6,816 5,724 4,746 11,162 6,469 10,757 14,392 16,510
EBIT 1 6,443 5,328 4,270 10,544 5,628 9,935 13,549 15,582
Net income 1 5,041 1,350 2,520 8,414 3,759 7,891 11,118 13,424
Net Debt 1 -2,108 -924.1 -1,390 1,851 1,855 -13,000 -15,397 -14,080
Reference price 2 1,245.40 818.25 1,103.55 1,458.70 1,272.80 1,327.70 1,327.70 1,327.70
Nbr of stocks (in thousands) 330,885 330,885 330,885 330,885 330,885 330,885 - -
Announcement Date 05/05/22 26/04/23 07/05/24 07/05/25 14/05/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
55.38x2.5x39.63x0.51% 4.62B
31.23x4.48x21.95x0.86% 104B
32.09x3.99x21.34x1.05% 93.05B
32.35x2.78x13.51x1.47% 54.15B
23.92x1.29x9.28x1.51% 41.98B
18.83x2.94x13.37x1.15% 15.44B
27.52x1.59x15.55x3.62% 12.8B
17.48x2.31x11.24x2.27% 8.61B
25.69x2.22x13.25x1.19% 8.49B
41.77x3.99x23.11x - 7.83B
Average 30.63x 2.81x 18.22x 1.52% 35.09B
Weighted average by Cap. 30.16x 3.39x 18.15x 1.24%

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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  4. Valuation Voltas Limited