Company Valuation: Voltas Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 412,084 270,746 365,148 482,662 421,150 425,187 - -
Change - -34.3% 34.87% 32.18% -12.74% 0.96% - -
Enterprise Value (EV) 1 409,975 269,822 363,758 484,512 423,005 412,187 409,790 411,106
Change - -34.19% 34.81% 33.2% -12.69% -2.56% -0.58% 0.32%
P/E 81.8x 201x 145x 57.4x 112x 53.6x 38.1x 31.3x
PBR 7.49x 4.97x 6.27x 7.41x 6.6x 6.13x 5.5x 5.03x
PEG - -2.7x 1.7x 0x -2x 0x 0.9x 1.5x
Capitalization / Revenue 5.19x 2.85x 2.93x 3.13x 2.96x 2.49x 2.14x 1.91x
EV / Revenue 5.17x 2.84x 2.91x 3.14x 2.97x 2.41x 2.07x 1.85x
EV / EBITDA 60.2x 47.1x 76.6x 43.4x 65.4x 38.3x 28.5x 24.9x
EV / EBIT 63.6x 50.6x 85.2x 46x 75.2x 41.5x 30.2x 26.4x
EV / FCF 76.5x -1,494x 76.9x -112x -685x 77.3x 61.8x 46.1x
FCF Yield 1.31% -0.07% 1.3% -0.89% -0.15% 1.29% 1.62% 2.17%
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% 0.53% 0.7% 0.85%
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 1,285.00 1,285.00 1,285.00
Nbr of stocks (in thousands) 330,885 330,885 330,885 330,885 330,885 330,885 - -
Announcement Date 5/5/22 26/4/23 7/5/24 7/5/25 14/5/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
53.6x2.41x38.32x0.53% 4.47B
31.9x4.58x22.41x0.85% 106B
31.9x3.95x21.17x1.06% 92.2B
31.52x2.72x13.23x1.51% 52.77B
22.21x1.2x8.64x1.62% 39.2B
18.54x2.89x13.17x1.17% 15.2B
27.12x1.56x15.34x3.67% 12.64B
17.65x2.33x11.34x2.25% 8.7B
25.62x2.22x13.22x1.2% 8.54B
41.46x3.96x22.94x - 7.77B
Average 30.15x 2.78x 17.98x 1.54% 34.76B
Weighted average by Cap. 29.97x 3.41x 18.19x 1.26%

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