Company Valuation: J.K. Cement Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 223,622 187,874 225,871 315,011 381,087 424,562 - -
Change - -15.99% 20.22% 39.47% 20.98% 11.41% - -
Enterprise Value (EV) 1 242,800 223,171 261,802 357,730 422,228 448,075 490,508 488,931
Change - -8.08% 17.31% 36.64% 18.03% 6.12% 3.64% -0.32%
P/E 31.8x 27.7x 53x 39.8x 44.3x 39.5x 39.2x 29.4x
PBR 5.98x 4.34x 4.82x 5.87x 6.26x 5.58x 5.36x 4.63x
PEG - -8.16x -1.4x 0.5x 4.99x 2.6x 5.61x 0.9x
Capitalization / Revenue 3.39x 2.35x 2.32x 2.73x 3.21x 2.86x 2.73x 2.42x
EV / Revenue 3.68x 2.79x 2.69x 3.1x 3.55x 3.27x 3.16x 2.79x
EV / EBITDA 15.8x 15.1x 19.9x 17.4x 20.8x 18.9x 18.7x 15x
EV / EBIT 19.7x 19.6x 30.6x 24.1x 29.6x 26x 26.5x 20.6x
EV / FCF 29.5x -33x -112x 45.5x 192x -114x -34.9x 107x
FCF Yield 3.39% -3.03% -0.9% 2.2% 0.52% -0.88% -2.87% 0.94%
Dividend per Share 2 15 15 15 20 15 20 19.24 19.98
Rate of return 0.52% 0.62% 0.51% 0.49% 0.3% 0.39% 0.35% 0.36%
EPS 2 90.99 87.9 55.17 102.4 111.4 128.4 140.1 187
Distribution rate 16.5% 17.1% 27.2% 19.5% 13.5% 15.6% 13.7% 10.7%
Net sales 1 66,061 79,908 97,202 115,560 118,792 137,223 155,387 175,112
EBITDA 1 15,387 14,822 13,143 20,598 20,271 23,742 26,200 32,551
EBIT 1 12,325 11,397 8,561 14,872 14,257 17,213 18,481 23,744
Net income 1 7,031 6,871 4,263 7,908 8,611 9,925 10,821 14,361
Net Debt 1 19,178 35,297 35,931 42,719 41,141 55,718 65,946 64,369
Reference price 2 2,894.10 2,431.45 2,923.20 4,076.85 4,932.00 5,494.65 5,494.65 5,494.65
Nbr of stocks (in thousands) 77,268 77,268 77,268 77,268 77,268 77,268 - -
Announcement Date 6/12/21 5/21/22 5/27/23 5/12/24 5/24/25 5/23/26 - -
1INR in Million2INR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
41.95x3.45x19.54x0.29% 4.5B
21.75x2.91x11.43x2.4% 52.69B
23.87x3.32x12.01x-.--% 14.02B
10.85x0.48x2.11x4.64% 13.38B
13.9x3.65x7.35x5.61% 13.16B
9.85x1.52x5.73x1.65% 9.6B
51.89x4.26x19.33x0.54% 9.59B
28x9.13x16.96x3.44% 9.4B
17.26x3.67x11.44x0.43% 6.95B
26.34x1.17x5.13x3.47% 5.82B
Average 24.57x 3.36x 11.10x 2.25% 13.91B
Weighted average by Cap. 22.47x 3.19x 10.73x 2.45%

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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  4. Valuation J.K. Cement Limited
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