Company Valuation: Orient Cement Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 29,153 22,525 40,113 69,727 25,249 25,132 - -
Change - -22.73% 78.08% 73.83% -63.79% -0.46% - -
Enterprise Value (EV) 1 30,195 25,739 40,638 69,387 25,249 30,132 36,332 41,632
Change - -14.76% 57.89% 70.74% -63.61% 19.34% 20.58% 14.59%
P/E 11.1x 18.4x 23x 76.4x - 9.63x 8.86x 7.89x
PBR 1.91x 1.4x 2.3x 3.86x 1.18x 1.06x 0.96x 0.87x
PEG - -0.3x 0.5x -1.6x - - 1.02x 0.6x
Capitalization / Revenue 1.07x 0.77x 1.26x 2.57x 0.9x 0.99x 0.87x 0.84x
EV / Revenue 1.11x 0.88x 1.28x 2.56x 0.9x 1.18x 1.25x 1.39x
EV / EBITDA 5.11x 7.06x 9.05x 23x 4.63x 5.71x 5.64x 5.98x
EV / EBIT 6.77x 11.8x 13.5x 46.8x - 9.04x 9.04x 8.67x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 2.5 1.5 2.25 0.5 0.5 1.9 2.1 2.3
Rate of return 1.76% 1.36% 1.15% 0.15% 0.41% 1.55% 1.72% 1.88%
EPS 2 12.85 5.99 8.53 4.45 - 12.7 13.8 15.5
Distribution rate 19.5% 25% 26.4% 11.2% - 15% 15.2% 14.8%
Net sales 1 27,254 29,375 31,851 27,088 27,931 25,468 29,048 30,052
EBITDA 1 5,911 3,645 4,492 3,013 5,454 5,276 6,438 6,967
EBIT 1 4,459 2,177 3,001 1,483 - 3,335 4,018 4,800
Net income 1 2,633 1,228 1,749 912.5 - 2,608 2,826 3,171
Net Debt 1 1,042 3,213 524.8 -339.8 - 5,000 11,200 16,500
Reference price 2 142.30 109.95 195.80 339.95 122.89 122.32 122.32 122.32
Nbr of stocks (in thousands) 204,869 204,869 204,869 205,110 205,460 205,460 - -
Announcement Date 5/11/22 4/28/23 5/1/24 4/13/25 4/28/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- 1.18x5.71x1.55% 262M
18.12x2.5x9.87x2.83% 44.24B
25.26x3.4x11.9x-.--% 15.44B
13.04x3.52x7.2x5.71% 13.48B
13.59x0.58x2.82x4.59% 12.54B
43.11x3.26x15.78x0.7% 8.4B
22x7.23x13.43x4.38% 7.59B
8.04x1.15x4.48x2.06% 7.38B
13.22x1.44x5.4x3.07% 6.19B
27.22x1.83x9.46x2.61% 5.96B
Average 20.40x 2.61x 8.60x 2.75% 12.15B
Weighted average by Cap. 19.55x 2.71x 9.15x 2.87%

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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