Company Valuation: Cholamandalam Investment and Finance Company Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 589,754 626,066 971,508 1,278,412 1,153,531 1,626,914 - -
Change - 6.16% 55.18% 31.59% -9.77% 41.04% - -
Enterprise Value (EV) 1 589,754 1,570,012 2,273,042 2,933,867 3,116,082 3,986,911 4,523,404 5,200,978
Change - 166.21% 44.78% 29.07% 6.21% 27.95% 13.46% 14.98%
P/E 27.5x 23.5x 28.1x 30.1x 21.9x 24.1x 19.6x 16x
PBR 5.04x 4.38x 4.97x 5.41x 3.8x 4.41x 3.61x 2.95x
PEG - 1x 1x 1.3x 1x 0.9x 0.9x 0.7x
Capitalization / Revenue 10.1x 8.66x 9.73x 9.42x 6.76x 7.8x 6.46x 5.37x
EV / Revenue 10.1x 21.7x 22.8x 21.6x 18.3x 19.1x 18x 17.2x
EV / EBITDA 21.1x 46.5x 54x 54.1x 46x 45.1x 41.3x 39x
EV / EBIT 15.6x 123x 38.5x 35.6x 29.7x 30.9x 28.8x 27.4x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 2 2 2 2 - 2.861 3.229 3.993
Rate of return 0.28% 0.26% 0.17% 0.13% - 0.15% 0.17% 0.21%
EPS 2 26.11 32.4 41.09 50.55 61.68 79.13 97.18 119.1
Distribution rate 7.66% 6.17% 4.87% 3.96% - 3.62% 3.32% 3.35%
Net sales 1 58,400 72,292 99,857 135,699 170,706 208,667 251,835 302,976
EBITDA 1 28,005 33,788 42,110 54,277 67,789 88,448 109,418 133,415
EBIT 1 37,712 12,731 59,039 82,311 104,965 128,978 156,797 190,159
Net income 1 21,467 26,662 34,228 42,585 52,196 67,514 83,074 102,074
Net Debt 1 - 943,946 1,301,534 1,655,454 1,962,552 2,359,997 2,896,490 3,574,064
Reference price 2 718.30 761.60 1,156.60 1,519.55 1,353.85 1,905.00 1,905.00 1,905.00
Nbr of stocks (in thousands) 821,041 822,040 839,969 841,310 852,037 854,023 - -
Announcement Date 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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
24.26x19.17x45.22x0.15% 17.18B
38.15x5.1x17.25x-.--% 42.59B
26.43x5.22x25.89x0.07% 33.92B
18.91x12.62x24.5x1.05% 27.81B
8.52x1.99x3.74x1.6% 26.06B
30.75x4.45x13.39x-.--% 23.8B
10.67x - - 1.24% 12.1B
9.26x5.79x11.83x6.43% 7.51B
23.51x39.48x - -.--% 7.36B
Average 21.16x 11.73x 20.26x 1.17% 22.04B
Weighted average by Cap. 24.15x 8.41x 19.99x 0.7%

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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