Company Valuation: Ambuja Cements

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 594,105 725,654 1,345,637 1,325,037 990,954 975,415 - -
Change - 22.14% 85.44% -1.53% -25.21% -1.57% - -
Enterprise Value (EV) 1 594,105 701,271 1,241,938 1,271,201 981,896 976,908 969,239 957,328
Change - 18.04% 77.1% 2.36% -22.76% -0.51% -0.78% -1.23%
P/E 31.3x 28.9x 36.7x 31.7x 21x 35.2x 24.9x 22.3x
PBR - 2.29x 3.25x 2.48x 1.67x 1.51x 1.44x 1.34x
PEG - 0.9x 1.2x 18.22x 1.7x -0.8x 0.6x 1.9x
Capitalization / Revenue 1.92x 1.86x 4.06x 3.78x 2.44x 2.24x 2.02x 1.87x
EV / Revenue 1.92x 1.8x 3.75x 3.63x 2.42x 2.25x 2.01x 1.83x
EV / EBITDA 15.3x 13.7x 19.4x 21.3x 15x 13.6x 10.7x 9.42x
EV / EBIT 22.9x 20.2x 26x 36.4x 33.1x 27.6x 19.3x 15.9x
EV / FCF - -20.1x 73.7x -19.7x -99.9x -248x 85.1x 63.7x
FCF Yield - -4.99% 1.36% -5.07% -1% -0.4% 1.18% 1.57%
Dividend per Share 2 - 2.5 2 2 2 2.102 2.311 2.738
Rate of return - 0.68% 0.33% 0.37% 0.5% 0.54% 0.59% 0.7%
EPS 2 9.56 12.64 16.67 16.96 19.05 11.15 15.8 17.64
Distribution rate - 19.8% 12% 11.8% 10.5% 18.9% 14.6% 15.5%
Net sales 1 309,828 389,370 331,596 350,448 406,557 434,743 481,806 522,597
EBITDA 1 38,820 51,224 63,995 59,706 65,389 71,803 90,331 101,598
EBIT 1 25,896 34,777 47,761 34,923 29,685 35,422 50,260 60,110
Net income 1 19,385 25,834 35,768 41,674 47,282 27,714 39,754 46,352
Net Debt 1 - -24,383 -103,699 -53,837 -9,058 1,493 -6,176 -18,086
Reference price 2 299.20 365.45 612.30 537.95 400.90 392.55 392.55 392.55
Nbr of stocks (in thousands) 1,985,645 1,985,645 2,197,676 2,463,123 2,471,823 2,484,817 - -
Announcement Date 2/7/23 5/2/23 5/1/24 4/29/25 5/4/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
34.46x2.2x13.31x0.55% 9.96B
14.9x1.79x8.6x1.8% 57.68B
31.28x5.89x17.19x0.7% 35.11B
32.25x3.34x17.15x0.96% 33.06B
27.24x4.33x14.42x0.86% 31.68B
11.59x1.39x6.48x2.65% 29.43B
24.17x7.52x14.78x1.96% 27.9B
72.58x4.53x70.07x0.32% 22.47B
15.57x1.98x7.89x1.35% 21.11B
10.56x1.15x5.62x0.98% 14.79B
Average 27.46x 3.41x 17.55x 1.21% 28.32B
Weighted average by Cap. 26.00x 3.50x 16.54x 1.33%

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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