Company Valuation: Star Cement Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 40,026 36,215 45,187 91,446 86,899 78,411 - -
Change - -9.52% 24.78% 102.37% -4.97% -9.77% - -
Enterprise Value (EV) 1 35,267 30,905 42,423 91,771 90,275 86,866 81,984 88,382
Change - -12.37% 37.27% 116.32% -1.63% -3.78% 0.54% 7.8%
P/E 21.4x 14.8x 18.2x 31x 51.4x 20.9x 20.5x 18.5x
PBR 1.93x 1.67x 1.87x 3.37x 3.02x 2.56x 2.22x 2x
PEG - 0.4x 12.21x 1.6x -1.2x 0x 4.22x 1.8x
Capitalization / Revenue 2.33x 1.63x 1.67x 3.14x 2.75x 2.18x 1.92x 1.73x
EV / Revenue 2.05x 1.39x 1.57x 3.15x 2.85x 2.3x 2.01x 1.96x
EV / EBITDA 10.6x 8.95x 9.06x 16.5x 15.6x 9.28x 9.03x 8.57x
EV / EBIT 14.5x 13.8x 12.6x 22.4x 36.6x 15.2x 15.1x 14.3x
EV / FCF 14.4x 14.1x -21.3x -16.8x -32.3x 31.2x 107x -14.1x
FCF Yield 6.96% 7.11% -4.69% -5.95% -3.09% 3.2% 0.94% -7.07%
Dividend per Share 2 - - - - - 0.98 1.5 1.525
Rate of return - - - - - 0.51% 0.77% 0.79%
EPS 2 4.54 6.04 6.13 7.3 4.18 9.73 9.483 10.48
Distribution rate - - - - - 10.8% 15.8% 14.6%
Net sales 1 17,199 22,218 27,048 29,107 31,634 37,765 40,831 45,203
EBITDA 1 3,326 3,453 4,684 5,563 5,786 9,360 9,078 10,315
EBIT 1 2,426 2,236 3,373 4,097 2,467 5,707 5,433 6,169
Net income 1 1,871 2,468 2,476 2,951 1,688 3,905 3,855 4,255
Net Debt 1 -4,760 -5,309 -2,764 324.9 3,377 4,615 3,573 9,971
Reference price 2 97.05 89.60 111.80 226.25 215.00 194.00 194.00 194.00
Nbr of stocks (in thousands) 412,429 404,180 404,180 404,180 404,180 404,180 - -
Announcement Date 6/9/21 5/17/22 5/19/23 5/22/24 5/21/25 5/22/26 - -
1INR in Million2INR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.45x2.17x9.17x0.51% 820M
19.11x2.6x10.27x2.7% 47.92B
27.69x3.65x12.96x-.--% 17.17B
10.99x0.39x1.75x4.67% 13.11B
12.35x3.36x6.87x6.03% 12.83B
46.65x3.59x17.3x0.64% 9.19B
8.57x1.25x4.83x1.93% 8.11B
23.41x7.68x14.26x4.11% 7.93B
16.26x3.4x10.94x0.48% 6.33B
13.72x1.3x4.91x2.83% 5.9B
Average 20.02x 2.94x 9.33x 2.39% 12.93B
Weighted average by Cap. 19.94x 2.87x 9.61x 2.65%

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 Star Cement Limited