Company Valuation: Cholamandalam Investment and Finance Company Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 458,236 589,754 626,066 971,508 1,278,412 1,534,837 - -
Change - 28.7% 6.16% 55.18% 31.59% 20.06% - -
Enterprise Value (EV) 1 458,236 589,754 1,570,012 2,273,042 2,933,867 3,116,082 3,884,595 4,379,130
Change - 28.7% 166.21% 44.78% 29.07% 6.21% 11.14% 12.73%
P/E 30.3x 27.5x 23.5x 28.1x 30.1x 21.9x 23.4x 19x
PBR 4.79x 5.04x 4.38x 4.97x 5.41x 3.8x 4.2x 3.45x
PEG - 0.7x 1x 1x 1.3x 1x 0.9x 0.8x
Capitalization / Revenue 9.27x 10.1x 8.66x 9.73x 9.42x 6.76x 7.47x 6.18x
EV / Revenue 9.27x 10.1x 21.7x 22.8x 21.6x 18.3x 18.9x 17.6x
EV / EBITDA - 21.1x 46.5x 54x 54.1x 46x 45.7x 40.9x
EV / EBIT 13.6x 15.6x 123x 38.5x 35.6x 29.7x 30.7x 28.6x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 2 2 2 2 2 2.226 2.676 3.137
Rate of return 0.36% 0.28% 0.26% 0.17% 0.13% 0.12% 0.15% 0.17%
EPS 2 18.45 26.11 32.4 41.09 50.55 61.68 76.8 94.96
Distribution rate 10.8% 7.66% 6.17% 4.87% 3.96% 3.69% 3.48% 3.3%
Net sales 1 49,437 58,400 72,292 99,857 135,699 170,706 205,600 248,218
EBITDA 1 - 28,005 33,788 42,110 54,277 67,789 84,931 107,171
EBIT 1 33,603 37,712 12,731 59,039 82,311 104,965 126,534 153,112
Net income 1 15,149 21,467 26,662 34,228 42,585 52,196 65,650 81,224
Net Debt 1 - - 943,946 1,301,534 1,655,454 1,962,552 2,349,758 2,844,293
Reference price 2 558.80 718.30 761.60 1,156.60 1,519.55 1,800.00 1,800.00 1,800.00
Nbr of stocks (in thousands) 820,035 821,041 822,040 839,969 841,310 852,687 - -
Announcement Date 5/7/21 A 5/5/22 A 5/3/23 A 4/30/24 A 4/25/25 A 4/30/26 A - -
1INR in Million2INR
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
31.75x17.77x - 0.52% 64.47B
27.96x4.59x15.42x-.--% 42.44B
26.23x2.87x16.06x0.07% 29.82B
8.44x1.91x - 1.63% 26.46B
18.15x12.87x24.37x1.13% 25.74B
29.95x4.5x13.2x-.--% 22.94B
30.26x - - - 16.25B
12.71x - - 1.31% 12.88B
Average 23.18x 7.42x 17.26x 0.67% 30.12B
Weighted average by Cap. 25.10x 9.02x 17.06x 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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