Company Valuation: Voltas Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 412,084 270,746 365,148 482,662 421,150 404,672 - -
Change - -34.3% 34.87% 32.18% -12.74% -3.91% - -
Enterprise Value (EV) 1 409,975 269,822 363,758 484,512 423,005 389,656 388,137 380,315
Change - -34.19% 34.81% 33.2% -12.69% -7.88% -0.39% -2.02%
P/E 81.8x 201x 145x 57.4x 112x 53.3x 37.6x 30x
PBR 7.49x 4.97x 6.27x 7.41x 6.6x 5.87x 5.28x 4.77x
PEG - -2.7x 1.7x 0x -2x 1x 0.9x 1.2x
Capitalization / Revenue 5.19x 2.85x 2.93x 3.13x 2.96x 2.41x 2.06x 1.81x
EV / Revenue 5.17x 2.84x 2.91x 3.14x 2.97x 2.33x 1.98x 1.7x
EV / EBITDA 60.2x 47.1x 76.6x 43.4x 65.4x 37.7x 27.8x 23.1x
EV / EBIT 63.6x 50.6x 85.2x 46x 75.2x 41.3x 29.8x 24.5x
EV / FCF 76.5x -1,494x 76.9x -112x -685x 71.5x 57.9x 50.8x
FCF Yield 1.31% -0.07% 1.3% -0.89% -0.15% 1.4% 1.73% 1.97%
Dividend per Share 2 5.5 4.25 5.5 7 4 6.824 8.855 10.85
Rate of return 0.44% 0.52% 0.5% 0.48% 0.31% 0.56% 0.72% 0.89%
EPS 2 15.23 4.08 7.62 25.43 11.35 22.95 32.52 40.8
Distribution rate 36.1% 104% 72.2% 27.5% 35.2% 29.7% 27.2% 26.6%
Net sales 1 79,344 94,988 124,812 154,128 142,445 167,580 196,081 223,943
EBITDA 1 6,816 5,724 4,746 11,162 6,469 10,334 13,983 16,480
EBIT 1 6,443 5,328 4,270 10,544 5,628 9,424 13,017 15,512
Net income 1 5,041 1,350 2,520 8,414 3,759 7,673 10,772 13,489
Net Debt 1 -2,108 -924.1 -1,390 1,851 1,855 -15,016 -16,535 -24,357
Reference price 2 1,245.40 818.25 1,103.55 1,458.70 1,272.80 1,223.00 1,223.00 1,223.00
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.($)
54.58x2.33x37.77x0.54% 4.33B
30.65x4.4x21.55x0.88% 102B
31.37x3.9x20.89x1.08% 90.67B
30.25x2.63x12.78x1.57% 50.63B
21.19x1.14x8.21x1.7% 36.82B
17.34x2.71x12.35x1.25% 14.21B
25.74x1.5x14.5x3.87% 12.1B
16.79x2.22x10.81x2.37% 8.27B
24.25x2.11x12.61x1.26% 8.03B
33.86x3.11x19.76x - 6.77B
Average 28.60x 2.61x 17.12x 1.61% 33.38B
Weighted average by Cap. 28.87x 3.30x 17.62x 1.3%

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 Voltas Limited