Company Valuation: Voltas Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 412,084 270,746 365,148 482,662 421,150 425,749 - -
Change - -34.3% 34.87% 32.18% -12.74% 1.09% - -
Enterprise Value (EV) 1 409,975 269,822 363,758 484,512 423,005 413,405 411,152 407,096
Change - -34.19% 34.81% 33.2% -12.69% -2.27% -0.55% -0.99%
P/E 81.8x 201x 145x 57.4x 112x 53.7x 38.1x 31.8x
PBR 7.49x 4.97x 6.27x 7.41x 6.6x 6.12x 5.49x 4.95x
PEG - -2.7x 1.7x 0x -2x 0x 0.9x 1.6x
Capitalization / Revenue 5.19x 2.85x 2.93x 3.13x 2.96x 2.49x 2.15x 1.91x
EV / Revenue 5.17x 2.84x 2.91x 3.14x 2.97x 2.42x 2.07x 1.83x
EV / EBITDA 60.2x 47.1x 76.6x 43.4x 65.4x 38.3x 28.5x 24.7x
EV / EBIT 63.6x 50.6x 85.2x 46x 75.2x 41.5x 30.3x 26.1x
EV / FCF 76.5x -1,494x 76.9x -112x -685x 77.5x 62x 45.7x
FCF Yield 1.31% -0.07% 1.3% -0.89% -0.15% 1.29% 1.61% 2.19%
Dividend per Share 2 5.5 4.25 5.5 7 4 6.82 8.936 10.7
Rate of return 0.44% 0.52% 0.5% 0.48% 0.31% 0.53% 0.69% 0.83%
EPS 2 15.23 4.08 7.62 25.43 11.35 23.97 33.75 40.51
Distribution rate 36.1% 104% 72.2% 27.5% 35.2% 28.5% 26.5% 26.4%
Net sales 1 79,344 94,988 124,812 154,128 142,445 170,826 198,393 222,644
EBITDA 1 6,816 5,724 4,746 11,162 6,469 10,785 14,404 16,504
EBIT 1 6,443 5,328 4,270 10,544 5,628 9,969 13,564 15,587
Net income 1 5,041 1,350 2,520 8,414 3,759 7,891 11,119 13,222
Net Debt 1 -2,108 -924.1 -1,390 1,851 1,855 -12,345 -14,598 -18,653
Reference price 2 1,245.40 818.25 1,103.55 1,458.70 1,272.80 1,286.70 1,286.70 1,286.70
Nbr of stocks (in thousands) 330,885 330,885 330,885 330,885 330,885 330,885 - -
Announcement Date 5/5/22 A 4/26/23 A 5/7/24 A 5/7/25 A 5/14/26 A - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
53.67x2.42x38.33x0.53% 4.46B
32.25x4.63x22.54x0.85% 106B
30.31x3.79x20.59x1.12% 87.13B
31.66x3.04x14.55x1.37% 57.59B
25.02x1.37x9.89x1.43% 43.27B
22.46x3.57x16.02x0.95% 19.21B
30.33x1.86x17.45x3.16% 14.79B
49.49x4.73x27.4x0.35% 9.35B
16.17x2.2x10.64x2.39% 8.33B
64.16x - - 0.37% 7.83B
Average 35.55x 3.07x 19.71x 1.25% 35.8B
Weighted average by Cap. 31.24x 3.50x 18.65x 1.18%

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