Company Valuation: Voltas Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 412,084 270,746 365,148 482,662 421,150 348,488 - -
Change - -34.3% 34.87% 32.18% -12.74% -17.25% - -
Enterprise Value (EV) 1 409,975 269,822 363,758 484,512 423,005 333,573 333,256 325,925
Change - -34.19% 34.81% 33.2% -12.69% -21.14% -0.1% -2.2%
P/E 81.8x 201x 145x 57.4x 112x 47.8x 33.2x 26.4x
PBR 7.49x 4.97x 6.27x 7.41x 6.6x 5.06x 4.57x 4.13x
PEG - -2.7x 1.7x 0x -2x 0.5x 0.8x 1x
Capitalization / Revenue 5.19x 2.85x 2.93x 3.13x 2.96x 2.08x 1.78x 1.56x
EV / Revenue 5.17x 2.84x 2.91x 3.14x 2.97x 1.99x 1.7x 1.46x
EV / EBITDA 60.2x 47.1x 76.6x 43.4x 65.4x 33.2x 24.3x 20.1x
EV / EBIT 63.6x 50.6x 85.2x 46x 75.2x 36.3x 26x 21.4x
EV / FCF 76.5x -1,494x 76.9x -112x -685x 58.6x 50.3x 43.5x
FCF Yield 1.31% -0.07% 1.3% -0.89% -0.15% 1.71% 1.99% 2.3%
Dividend per Share 2 5.5 4.25 5.5 7 4 6.726 8.751 10.37
Rate of return 0.44% 0.52% 0.5% 0.48% 0.31% 0.64% 0.83% 0.98%
EPS 2 15.23 4.08 7.62 25.43 11.35 22.03 31.7 39.86
Distribution rate 36.1% 104% 72.2% 27.5% 35.2% 30.5% 27.6% 26%
Net sales 1 79,344 94,988 124,812 154,128 142,445 167,365 195,913 222,983
EBITDA 1 6,816 5,724 4,746 11,162 6,469 10,053 13,706 16,206
EBIT 1 6,443 5,328 4,270 10,544 5,628 9,191 12,809 15,251
Net income 1 5,041 1,350 2,520 8,414 3,759 7,366 10,512 13,185
Net Debt 1 -2,108 -924.1 -1,390 1,851 1,855 -14,914 -15,232 -22,563
Reference price 2 1,245.40 818.25 1,103.55 1,458.70 1,272.80 1,053.20 1,053.20 1,053.20
Nbr of stocks (in thousands) 330,885 330,885 330,885 330,885 330,885 330,885 - -
Announcement Date 5/5/22 4/26/23 5/7/24 5/7/25 5/14/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
47.81x1.99x33.18x0.64% 3.63B
25.49x3.02x16.47x2.03% 239B
14.05x1.73x7.84x3.64% 203B
31.8x4.07x18.77x1.53% 192B
38.81x5.73x24.05x1.01% 169B
46x6.17x27.61x1.08% 154B
30.69x4.41x21.61x0.88% 102B
93.76x11.62x66.36x0.33% 96.97B
41.74x6.86x27.54x0.1% 97.09B
32.65x4.05x21.73x1.03% 94.64B
Average 40.28x 4.96x 26.52x 1.23% 135.13B
Weighted average by Cap. 35.69x 4.74x 22.89x 1.55%

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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  3. VOLTAS Stock
  4. Valuation Voltas Limited