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 1,579,772 - -
Change - 6.16% 55.18% 31.59% -9.77% 36.95% - -
Enterprise Value (EV) 1 589,754 1,570,012 2,273,042 2,933,867 3,116,082 3,939,769 4,476,262 5,153,835
Change - 166.21% 44.78% 29.07% 6.21% 26.43% 13.62% 15.14%
P/E 27.5x 23.5x 28.1x 30.1x 21.9x 23.4x 19x 15.5x
PBR 5.04x 4.38x 4.97x 5.41x 3.8x 4.28x 3.51x 2.86x
PEG - 1x 1x 1.3x 1x 0.8x 0.8x 0.7x
Capitalization / Revenue 10.1x 8.66x 9.73x 9.42x 6.76x 7.57x 6.27x 5.21x
EV / Revenue 10.1x 21.7x 22.8x 21.6x 18.3x 18.9x 17.8x 17x
EV / EBITDA 21.1x 46.5x 54x 54.1x 46x 44.5x 40.9x 38.6x
EV / EBIT 15.6x 123x 38.5x 35.6x 29.7x 30.5x 28.5x 27.1x
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% 0.22%
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 1,849.80 1,849.80 1,849.80
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
27.65x17.7x - 0.63% 74.33B
25.95x4.41x14.77x-.--% 36.5B
25.21x5.05x25.91x0.07% 33.98B
17.55x12.06x23.42x1.14% 25.8B
8.05x1.9x3.57x1.69% 24.66B
27.19x3.99x12.08x-.--% 21.04B
22.59x22.62x - 0.23% 16.14B
13.11x - - 1.27% 13.12B
Average 20.91x 9.67x 15.95x 0.63% 30.7B
Weighted average by Cap. 22.88x 10.56x 16.66x 0.57%

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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