Company Valuation: Power Grid Corporation of India Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 1,512,278 1,574,360 2,575,337 2,700,430 2,753,909 2,473,496 - -
Change - 4.11% 63.58% 4.86% 1.98% -10.18% - -
Enterprise Value (EV) 1 2,829,220 2,792,964 3,759,556 3,945,886 4,156,987 4,005,258 4,195,129 4,364,923
Change - -1.28% 34.61% 4.96% 5.35% -3.65% 4.74% 4.05%
P/E 8.85x 10.3x 16.1x 17.9x 14.7x 14.7x 13.5x 12x
PBR 1.99x 1.9x 2.96x - 2.76x 2.29x 2.13x 1.97x
PEG - -1x 3.47x -2.97x 0.6x -1.5x 1.5x 1x
Capitalization / Revenue 3.79x 3.63x 5.62x 5.83x 5.86x 5.07x 4.71x 4.53x
EV / Revenue 7.09x 6.44x 8.21x 8.52x 8.85x 8.22x 7.99x 7.99x
EV / EBITDA 8.1x 7.49x 10.2x 11.2x 12.6x 9.86x 9.54x 9.55x
EV / EBIT 12.6x 11.5x 15.5x 17.2x 20.1x 15x 14.6x 14.4x
EV / FCF 13.5x 8.67x 12.8x 15.1x 15.7x 24.3x 24.8x 12x
FCF Yield 7.42% 11.5% 7.79% 6.64% 6.35% 4.12% 4.03% 8.31%
Dividend per Share 2 11.06 11.06 11.25 9 9 9.904 10.11 10.81
Rate of return 6.8% 6.54% 4.06% 3.1% 3.04% 3.72% 3.8% 4.07%
EPS 2 18.38 16.48 17.25 16.21 20.15 18.13 19.76 22.15
Distribution rate 60.2% 67.1% 65.2% 55.5% 44.7% 54.6% 51.2% 48.8%
Net sales 1 399,281 433,430 458,154 463,253 469,959 487,469 525,191 546,450
EBITDA 1 349,217 372,738 367,548 352,765 330,476 406,182 439,613 457,190
EBIT 1 223,711 243,339 241,966 229,243 207,178 267,891 286,360 302,555
Net income 1 170,938 153,330 154,746 153,536 159,210 164,695 178,006 194,198
Net Debt 1 1,316,942 1,218,605 1,184,219 1,245,456 1,403,078 1,531,763 1,721,634 1,891,427
Reference price 2 162.60 169.28 276.90 290.35 296.10 265.95 265.95 265.95
Nbr of stocks (in thousands) 9,300,604 9,300,604 9,300,604 9,300,604 9,300,604 9,300,604 - -
Announcement Date 5/21/22 5/19/23 5/22/24 5/19/25 5/15/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.67x8.22x9.86x3.72% 25.87B
30.87x5.2x37.87x0.21% 253B
19.68x8.77x15.04x3.12% 165B
20.07x4.13x11.35x3.56% 151B
12.26x1.82x6.46x5.79% 101B
19.05x5.69x12.47x3.57% 97.95B
20.73x3.23x13.11x0.65% 93.35B
17.24x5.45x10.94x3.74% 90.69B
18.69x5.04x12.18x3.2% 65.47B
17.41x6.04x12.72x4.28% 54.91B
Average 19.07x 5.36x 14.20x 3.18% 109.91B
Weighted average by Cap. 21.17x 5.28x 17.86x 2.72%

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

  1. Stock Market
  2. Stocks
  3. POWERGRID Stock
  4. Valuation Power Grid Corporation of India Limited
-40%: Exceptional extension
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