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 1,542,988 - -
Change - 6.16% 55.18% 31.59% -9.77% 33.76% - -
Enterprise Value (EV) 1 589,754 1,570,012 2,273,042 2,933,867 3,116,082 3,917,998 4,460,191 5,140,034
Change - 166.21% 44.78% 29.07% 6.21% 25.73% 13.84% 15.24%
P/E 27.5x 23.5x 28.1x 30.1x 21.9x 23.5x 19x 15.4x
PBR 5.04x 4.38x 4.97x 5.41x 3.8x 4.21x 3.46x 2.85x
PEG - 1x 1x 1.3x 1x 0.9x 0.8x 0.7x
Capitalization / Revenue 10.1x 8.66x 9.73x 9.42x 6.76x 7.49x 6.21x 5.17x
EV / Revenue 10.1x 21.7x 22.8x 21.6x 18.3x 19x 17.9x 17.2x
EV / EBITDA 21.1x 46.5x 54x 54.1x 46x 46.2x 41.7x 39.3x
EV / EBIT 15.6x 123x 38.5x 35.6x 29.7x 31x 29.1x 27.4x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 2 2 2 2 - 2.68 3.144 3.708
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 77.04 95.15 117.3
Distribution rate 7.66% 6.17% 4.87% 3.96% - 3.48% 3.3% 3.16%
Net sales 1 58,400 72,292 99,857 135,699 170,706 205,920 248,555 298,478
EBITDA 1 28,005 33,788 42,110 54,277 67,789 84,739 106,932 130,681
EBIT 1 37,712 12,731 59,039 82,311 104,965 126,526 153,301 187,465
Net income 1 21,467 26,662 34,228 42,585 52,196 65,699 81,495 101,531
Net Debt 1 - 943,946 1,301,534 1,655,454 1,962,552 2,375,010 2,917,203 3,597,045
Reference price 2 718.30 761.60 1,156.60 1,519.55 1,353.85 1,806.75 1,806.75 1,806.75
Nbr of stocks (in thousands) 821,041 822,040 839,969 841,310 852,037 854,013 - -
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.($)
26.32x16.99x - 0.65% 68.2B
28.61x4.73x16.01x-.--% 41.14B
24.98x5.13x25.45x0.08% 30.78B
17.97x12.28x23.38x1.15% 25.32B
7.89x1.82x - 1.73% 24.76B
28.92x4.29x12.58x-.--% 22.17B
29.48x - - - 15.51B
12.56x - - 1.32% 12.46B
Average 22.09x 7.54x 19.35x 0.71% 30.04B
Weighted average by Cap. 23.49x 9.24x 19.37x 0.6%

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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