Company Valuation: Voltas Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 412,084 270,746 365,148 482,662 421,150 314,341 - -
Change - -34.3% 34.87% 32.18% -12.74% -25.36% - -
Enterprise Value (EV) 1 409,975 269,822 363,758 484,512 423,005 299,426 297,623 289,413
Change - -34.19% 34.81% 33.2% -12.69% -29.21% -0.6% -2.76%
P/E 81.8x 201x 145x 57.4x 112x 43.4x 30.2x 24.1x
PBR 7.49x 4.97x 6.27x 7.41x 6.6x 4.57x 4.12x 3.72x
PEG - -2.7x 1.7x 0x -2x 0.5x 0.7x 0.9x
Capitalization / Revenue 5.19x 2.85x 2.93x 3.13x 2.96x 1.88x 1.6x 1.41x
EV / Revenue 5.17x 2.84x 2.91x 3.14x 2.97x 1.79x 1.51x 1.3x
EV / EBITDA 60.2x 47.1x 76.6x 43.4x 65.4x 30x 21.7x 17.9x
EV / EBIT 63.6x 50.6x 85.2x 46x 75.2x 32.5x 23.2x 18.9x
EV / FCF 76.5x -1,494x 76.9x -112x -685x 53.8x 44.8x 39.1x
FCF Yield 1.31% -0.07% 1.3% -0.89% -0.15% 1.86% 2.23% 2.56%
Dividend per Share 2 5.5 4.25 5.5 7 4 6.718 8.689 10.21
Rate of return 0.44% 0.52% 0.5% 0.48% 0.31% 0.71% 0.91% 1.07%
EPS 2 15.23 4.08 7.62 25.43 11.35 21.9 31.41 39.49
Distribution rate 36.1% 104% 72.2% 27.5% 35.2% 30.7% 27.7% 25.8%
Net sales 1 79,344 94,988 124,812 154,128 142,445 167,241 196,567 223,280
EBITDA 1 6,816 5,724 4,746 11,162 6,469 9,997 13,695 16,150
EBIT 1 6,443 5,328 4,270 10,544 5,628 9,200 12,834 15,282
Net income 1 5,041 1,350 2,520 8,414 3,759 7,327 10,488 13,079
Net Debt 1 -2,108 -924.1 -1,390 1,851 1,855 -14,914 -16,717 -24,927
Reference price 2 1,245.40 818.25 1,103.55 1,458.70 1,272.80 950.00 950.00 950.00
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.($)
43.37x1.79x29.95x0.71% 3.31B
23.61x2.83x15.44x2.17% 221B
12.26x1.34x6.22x4.08% 166B
23.89x3.15x14.43x2.01% 146B
32.53x4.87x20.44x1.21% 142B
38.44x5.1x22.93x1.3% 124B
29.38x4.23x20.73x0.92% 97.89B
33.1x5.32x18.52x1.37% 90.13B
30.2x3.76x20.19x1.13% 87.2B
84.16x10.41x59.51x0.37% 86.44B
Average 35.09x 4.28x 22.84x 1.53% 116.43B
Weighted average by Cap. 30.96x 4.09x 19.76x 1.83%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Voltas Limited

Historical PBR trend

Valuation ratios - PBR - Voltas Limited

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Voltas Limited

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Voltas Limited


Year-on-year evolution of the Yield

Valuation ratios - Yield - Voltas Limited
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