Company Valuation: HB STOCKHOLDINGS

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 115.3 346.2 328.2 579.4 522 310.6
Change - 200.31% -5.2% 76.53% -9.91% -40.5%
Enterprise Value (EV) 1 -113.6 -78.21 -32.09 -40.16 -0.8336 12.48
Change - 31.17% 58.97% -25.15% 97.92% 1,596.81%
P/E 0.98x 2.28x -16.3x 1.54x -4.34x -2.87x
PBR 0.22x 0.5x 0.5x 0.56x 0.58x 0.4x
PEG - 0.1x 0x -0x 0x 0.29x
Capitalization / Revenue 0.87x 1.95x 11x 1.31x 34.5x 12.1x
EV / Revenue -0.86x -0.44x -1.08x -0.09x -0.06x 0.48x
EV / EBITDA -0.95x -0.49x -3.48x -0.1x 0.04x -0.46x
EV / EBIT -0.97x -0.5x -4.93x -0.1x 0.03x -0.41x
EV / FCF -0.5x 7.9x 0.85x -0.14x -0.02x -
FCF Yield -202% 12.7% 118% -694% -4,128% -
Dividend per Share 2 - 1 1 1.5 1 -
Rate of return - 2.06% 2.17% 1.85% 1.37% -
EPS 2 16.47 21.28 -2.82 52.59 -16.83 -15.16
Distribution rate - 4.7% -35.5% 2.85% -5.94% -
Net sales 1 131.9 177.1 29.8 443.6 15.15 25.76
EBITDA 1 119.3 159.2 9.223 415.3 -21.22 -27.42
EBIT 1 117.4 157.3 6.51 412.3 -24.39 -30.22
Net income 1 117.5 151.9 -20.13 375.6 -120.1 -108.2
Net Debt 1 -228.9 -424.4 -360.3 -619.5 -522.8 -298.1
Reference price 2 16.15 48.50 45.98 81.17 73.13 43.51
Nbr of stocks (in thousands) 7,138 7,138 7,138 7,138 7,138 7,138
Announcement Date 8/31/21 8/24/22 7/18/23 7/8/24 7/7/25 7/30/26
1INR in Million2INR
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
18.59x10.53x11.84x0.67% 42.68B
9.21x4.12x - 3.59% 42.89B
32.52x4.24x5.44x0.39% 40.04B
4.93x5.25x - 6.25% 16.45B
10.85x - - 3.99% 10.39B
9.6x1.62x4.86x6.95% 10.25B
8.13x - - 4.95% 6.84B
13.21x - - 2.31% 6.07B
Average 13.38x 5.15x 7.38x 3.64% 21.95B
Weighted average by Cap. 16.62x 5.90x 8.31x 2.63%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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