Company Valuation: CARE Ratings Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 12,109 15,133 19,092 33,416 33,105 48,046 - -
Change - 24.98% 26.16% 75.03% -0.93% 45.13% - -
Enterprise Value (EV) 12,109 15,133 19,092 33,416 33,105 48,046 48,046 48,046
Change - 24.98% 26.16% 75.03% -0.93% 45.13% 0% 0%
P/E Ratio 13.6x 20.2x 22.8x 33.2x 24.2x 25.5x 23.6x 20.4x
PBR - 2.34x 2.67x 4.61x 4.07x 4.68x 4.45x 3.88x
PEG - -1.2x 2x 1.7x 0.7x 1x 1x 1.3x
Capitalization / Revenue 4.87x 6.11x 6.68x 10.1x 8.23x 9.2x 8.68x 7.54x
EV / Revenue 0x 0x 0x 0x 0x 10.3x 8.68x 7.54x
EV / EBITDA 0x 0x 0x 0x 0x 25.5x 20.8x 17.8x
EV / EBIT 0x 0x 0x 0x 0x 27.6x 22.4x 19.1x
EV / FCF 0x 0x 0x 0x 0x 28.8x 21.3x 18.6x
FCF Yield 6.75% 3.24% 3.71% 2.45% 3.27% 3.2% 4.69% 5.38%
Dividend per Share 2 25 17 17 17 18 14 26.1 28.7
Rate of return 6.08% 3.33% 2.64% 1.52% 1.63% 0.97% 1.63% 1.79%
EPS 2 30.33 25.31 28.17 33.67 45.69 56.83 67.7 78.2
Distribution rate 82.4% 67.2% 60.3% 50.5% 39.4% 24.6% 38.6% 36.7%
Net sales 1 2,484 2,476 2,859 3,317 4,023 4,731 5,535 6,375
EBITDA 1 957.7 798.2 993.4 1,121 1,553 1,974 2,306 2,701
EBIT 1 879.7 721.2 945.2 1,017 1,436 1,830 2,142 2,510
Net income 1 895.2 751.1 835.3 1,005 1,372 1,712 2,032 2,347
Net Debt - - - - - - - -
Reference price 2 411.00 510.45 642.80 1,119.40 1,106.00 1,598.90 1,598.90 1,598.90
Nbr of stocks (in thousands) 29,461 29,647 29,701 29,852 29,932 30,049 - -
Announcement Date 6/12/21 5/29/22 5/11/23 5/9/24 5/12/25 5/13/26 - -
1INR in Million2INR
Estimates

P/E Ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
30x - - 1.23% 502M
28.71x10.19x19.43x0.93% 77.18B
30.95x - - 1.94% 2.98B
26.53x - - 1.53% 508M
Average 29.05x 10.19x 19.43x 1.41% 20.29B
Weighted average by Cap. 28.78x 10.19x 19.43x 0.98%

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 CARE Ratings Limited
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