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 1,526,097 - -
Change - 28.7% 6.16% 55.18% 31.59% 19.37% - -
Enterprise Value (EV) 1 458,236 589,754 1,570,012 2,273,042 2,933,867 3,116,082 3,878,360 4,387,799
Change - 28.7% 166.21% 44.78% 29.07% 6.21% 11.24% 13.14%
P/E 30.3x 27.5x 23.5x 28.1x 30.1x 21.9x 23.3x 18.8x
PBR 4.79x 5.04x 4.38x 4.97x 5.41x 3.8x 4.16x 3.43x
PEG - 0.7x 1x 1x 1.3x 1x 0.8x 0.8x
Capitalization / Revenue 9.27x 10.1x 8.66x 9.73x 9.42x 6.76x 7.42x 6.14x
EV / Revenue 9.27x 10.1x 21.7x 22.8x 21.6x 18.3x 18.8x 17.7x
EV / EBITDA - 21.1x 46.5x 54x 54.1x 46x 45.8x 41x
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 2.679 3.141
Rate of return 0.36% 0.28% 0.26% 0.17% 0.13% 0.12% 0.15% 0.18%
EPS 2 18.45 26.11 32.4 41.09 50.55 61.68 76.97 95.21
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 99,857 135,699 170,706 205,761 248,377
EBITDA 1 - 28,005 33,788 42,110 54,277 67,789 84,739 106,932
EBIT 1 33,603 37,712 12,731 59,039 82,311 104,965 126,425 153,251
Net income 1 15,149 21,467 26,662 34,228 42,585 52,196 65,622 81,364
Net Debt 1 - - 943,946 1,301,534 1,655,454 1,962,552 2,352,263 2,861,702
Reference price 2 558.80 718.30 761.60 1,156.60 1,519.55 1,789.75 1,789.75 1,789.75
Nbr of stocks (in thousands) 820,035 821,041 822,040 839,969 841,310 852,687 - -
Announcement Date 5/7/21 5/5/22 5/3/23 4/30/24 4/25/25 4/30/26 - -
1INR in Million2INR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
29.68x20.69x51.64x0.12% 16.03B
33.4x18.35x - 0.5% 67.2B
29.93x4.8x16.01x-.--% 44.62B
28.18x3.01x16.84x0.07% 31.74B
18.51x12.5x23.73x1.1% 26.27B
8.19x1.85x - 1.68% 25.68B
30.57x4.6x13.51x-.--% 23.4B
29.08x - - - 15.47B
12.84x - - 1.29% 12.88B
Average 24.49x 9.40x 24.35x 0.6% 29.25B
Weighted average by Cap. 26.50x 10.04x 21.23x 0.51%

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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