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 1,588,483 - -
Change - 6.16% 55.18% 31.59% -9.77% 37.71% - -
Enterprise Value (EV) 1 589,754 1,570,012 2,273,042 2,933,867 3,116,082 3,948,480 4,484,973 5,162,547
Change - 166.21% 44.78% 29.07% 6.21% 26.71% 13.59% 15.11%
P/E 27.5x 23.5x 28.1x 30.1x 21.9x 23.6x 19.2x 15.6x
PBR 5.04x 4.38x 4.97x 5.41x 3.8x 4.31x 3.54x 2.88x
PEG - 1x 1x 1.3x 1x 0.8x 0.8x 0.7x
Capitalization / Revenue 10.1x 8.66x 9.73x 9.42x 6.76x 7.61x 6.31x 5.24x
EV / Revenue 10.1x 21.7x 22.8x 21.6x 18.3x 18.9x 17.8x 17x
EV / EBITDA 21.1x 46.5x 54x 54.1x 46x 44.6x 41x 38.7x
EV / EBIT 15.6x 123x 38.5x 35.6x 29.7x 30.6x 28.6x 27.1x
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 78.88 97.06 119
Distribution rate 7.66% 6.17% 4.87% 3.96% - 3.63% 3.33% 3.36%
Net sales 1 58,400 72,292 99,857 135,699 170,706 208,804 251,892 302,926
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 82,311 104,965 129,089 156,776 190,159
Net income 1 21,467 26,662 34,228 42,585 52,196 67,506 83,057 102,041
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 1,860.00 1,860.00 1,860.00
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.($)
26.42x17.24x - 0.66% 71.16B
42.04x4.82x16.28x-.--% 39.44B
26.61x5.24x25.93x0.07% 33.96B
19.01x12.66x24.58x1.05% 27.89B
8.45x1.98x3.72x1.61% 25.86B
31.55x4.58x13.74x-.--% 24.42B
23.58x18.91x44.64x0.15% 16.6B
22.46x22.52x - 0.23% 16.09B
Average 25.02x 10.99x 21.48x 0.47% 31.93B
Weighted average by Cap. 26.29x 10.91x 20.11x 0.49%

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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