Company Valuation: Cholamandalam Investment and Finance Company Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 589,754 626,066 971,508 1,278,412 1,153,531 1,597,066 - -
Change - 6.16% 55.18% 31.59% -9.77% 38.45% - -
Enterprise Value (EV) 1 589,754 1,570,012 2,273,042 2,933,867 3,116,082 3,957,063 4,493,556 5,171,129
Change - 166.21% 44.78% 29.07% 6.21% 26.99% 13.56% 15.08%
P/E 27.5x 23.5x 28.1x 30.1x 21.9x 23.6x 19.2x 15.7x
PBR 5.04x 4.38x 4.97x 5.41x 3.8x 4.32x 3.55x 2.89x
PEG - 1x 1x 1.3x 1x 0.8x 0.8x 0.7x
Capitalization / Revenue 10.1x 8.66x 9.73x 9.42x 6.76x 7.65x 6.34x 5.27x
EV / Revenue 10.1x 21.7x 22.8x 21.6x 18.3x 19x 17.8x 17.1x
EV / EBITDA 21.1x 46.5x 54x 54.1x 46x 44.7x 41.1x 38.8x
EV / EBIT 15.6x 123x 38.5x 35.6x 29.7x 30.7x 28.7x 27.2x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 2 2 2 2 - 2.861 3.229 3.993
Rate of return 0.28% 0.26% 0.17% 0.13% - 0.15% 0.17% 0.21%
EPS 2 26.11 32.4 41.09 50.55 61.68 79.13 97.18 119.1
Distribution rate 7.66% 6.17% 4.87% 3.96% - 3.62% 3.32% 3.35%
Net sales 1 58,400 72,292 99,857 135,699 170,706 208,667 251,835 302,976
EBITDA 1 28,005 33,788 42,110 54,277 67,789 88,448 109,418 133,415
EBIT 1 37,712 12,731 59,039 82,311 104,965 128,978 156,797 190,159
Net income 1 21,467 26,662 34,228 42,585 52,196 67,514 83,074 102,074
Net Debt 1 - 943,946 1,301,534 1,655,454 1,962,552 2,359,997 2,896,490 3,574,064
Reference price 2 718.30 761.60 1,156.60 1,519.55 1,353.85 1,870.05 1,870.05 1,870.05
Nbr of stocks (in thousands) 821,041 822,040 839,969 841,310 852,037 854,023 - -
Announcement Date 5/5/22 5/3/23 4/30/24 4/25/25 4/30/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
23.63x18.96x44.74x0.15% 16.78B
26.09x17.09x - 0.67% 70.43B
33.38x4.64x15.57x-.--% 38.82B
26.22x5.21x25.82x0.07% 33.75B
18.7x12.53x24.33x1.07% 27.57B
8.36x1.96x3.68x1.63% 25.57B
30.66x4.43x13.36x-.--% 23.74B
22.79x22.64x - 0.23% 16.41B
12.14x - - 1.37% 12.19B
Average 22.44x 10.93x 21.25x 0.58% 29.47B
Weighted average by Cap. 24.10x 10.87x 19.90x 0.54%

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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