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 1,540,785 - -
Change - 6.16% 55.18% 31.59% -9.77% 33.57% - -
Enterprise Value (EV) 1 589,754 1,570,012 2,273,042 2,933,867 3,116,082 3,900,783 4,437,276 5,114,849
Change - 166.21% 44.78% 29.07% 6.21% 25.18% 13.75% 15.27%
P/E 27.5x 23.5x 28.1x 30.1x 21.9x 22.6x 18.6x 15.1x
PBR 5.04x 4.38x 4.97x 5.41x 3.8x 4.17x 3.42x 2.79x
PEG - 1x 1x 1.3x 1x 0.8x 0.8x 0.7x
Capitalization / Revenue 10.1x 8.66x 9.73x 9.42x 6.76x 7.37x 6.12x 5.09x
EV / Revenue 10.1x 21.7x 22.8x 21.6x 18.3x 18.7x 17.6x 16.9x
EV / EBITDA 21.1x 46.5x 54x 54.1x 46x 46.4x 40.6x 38.3x
EV / EBIT 15.6x 123x 38.5x 35.6x 29.7x 30.2x 28.3x 26.9x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 2 2 2 2 - 2.619 3.229 3.993
Rate of return 0.28% 0.26% 0.17% 0.13% - 0.15% 0.18% 0.22%
EPS 2 26.11 32.4 41.09 50.55 61.68 79.67 97.18 119.1
Distribution rate 7.66% 6.17% 4.87% 3.96% - 3.29% 3.32% 3.35%
Net sales 1 58,400 72,292 99,857 135,699 170,706 209,150 251,827 302,976
EBITDA 1 28,005 33,788 42,110 54,277 67,789 84,128 109,418 133,415
EBIT 1 37,712 12,731 59,039 82,311 104,965 128,974 156,789 190,159
Net income 1 21,467 26,662 34,228 42,585 52,196 68,163 83,068 102,074
Net Debt 1 - 943,946 1,301,534 1,655,454 1,962,552 2,359,997 2,896,490 3,574,064
Reference price 2 718.30 761.60 1,156.60 1,519.55 1,353.85 1,804.15 1,804.15 1,804.15
Nbr of stocks (in thousands) 821,041 822,040 839,969 841,310 852,037 854,023 - -
Announcement Date 5/5/22 3/5/23 30/4/24 25/4/25 30/4/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
26.12x16.93x - 0.66% 68.23B
27.84x4.61x15.37x-.--% 39.56B
25.97x5.2x25.8x0.08% 32.26B
17.45x12.02x23.34x1.14% 25.64B
8.18x1.92x3.62x1.66% 25.09B
28.03x4.13x12.12x-.--% 21.47B
22.24x - - 0.23% 15.67B
Average 22.26x 7.47x 16.05x 0.54% 32.56B
Weighted average by Cap. 23.36x 9.19x 16.59x 0.53%

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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