Company Valuation: Grasim Industries Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 1,093,210 1,072,518 1,552,059 1,771,560 1,735,438 2,008,985 - -
Change - -1.89% 44.71% 14.14% -2.04% 15.76% - -
Enterprise Value (EV) 1 1,084,674 1,090,318 1,614,288 1,843,370 1,808,706 2,092,555 2,084,732 2,067,850
Change - 0.52% 48.06% 14.19% -1.88% 15.69% -0.37% -0.81%
P/E 35.9x 50.5x 160x 821x 499x 67.8x 84x 69.1x
PBR 2.25x 2.29x 2.91x 3.27x 3.15x 3.44x 3.32x 3.1x
PEG - -1.7x -2.9x -10.6x 8.1x 0x -4.3x 3.2x
Capitalization / Revenue 5.24x 4x 6x 5.61x 4.23x 4.07x 3.69x 3.32x
EV / Revenue 5.2x 4.06x 6.25x 5.84x 4.41x 4.24x 3.83x 3.42x
EV / EBITDA 33.7x 34.3x 69.7x 161x 102x 65.6x 58.2x 47.9x
EV / EBIT 47.1x 52.4x 147x -345x -567x 252x 192x 107x
EV / FCF 919x -64x -43.1x -47.8x 305x 127x 142x 82.5x
FCF Yield 0.11% -1.56% -2.32% -2.09% 0.33% 0.79% 0.7% 1.21%
Dividend per Share 2 5 10 10 10 10 10 10 10
Rate of return 0.3% 0.61% 0.44% 0.38% 0.39% 0.34% 0.34% 0.34%
EPS 2 46.4 32.31 14.31 3.18 5.13 43.72 35.26 42.87
Distribution rate 10.8% 31% 69.9% 314% 195% 22.9% 28.4% 23.3%
Net sales 1 208,568 268,397 258,473 315,632 410,395 493,975 544,471 605,223
EBITDA 1 32,162 31,799 23,160 11,415 17,705 31,906 35,807 43,158
EBIT 1 23,022 20,826 11,010 -5,347 -3,192 8,307 10,858 19,359
Net income 1 30,513 21,237 9,454 2,121 3,484 33,165 24,256 30,217
Net Debt 1 -8,535 17,800 62,229 71,811 73,268 83,570 75,747 58,866
Reference price 2 1,664.00 1,632.70 2,287.30 2,611.15 2,557.70 2,962.00 2,962.00 2,962.00
Nbr of stocks (in thousands) 656,977 656,898 678,555 678,460 678,515 678,253 - -
Announcement Date 5/24/22 5/26/23 5/22/24 5/22/25 5/20/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.27x1.72x8.31x1.92% 54.51B
17.72x2.44x9.67x2.9% 43.13B
32.72x5.85x17.33x0.72% 34.25B
32.09x3.33x17.07x0.96% 32.77B
27.21x4.3x14.39x0.86% 31.5B
11.79x1.41x6.57x2.61% 29.3B
20.21x6.3x12.42x2.15% 23.33B
67.76x4.24x65.59x0.34% 20.9B
15.23x1.92x7.71x1.44% 20.31B
Average 26.55x 3.50x 17.67x 1.54% 32.22B
Weighted average by Cap. 24.53x 3.31x 15.47x 1.64%

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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