Company Valuation: Ambuja Cements

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 6,13,068 5,94,105 7,25,654 13,45,637 13,25,037 10,52,008 - -
Change - -3.09% 22.14% 85.44% -1.53% -20.61% - -
Enterprise Value (EV) 1 5,00,856 5,94,105 7,01,271 12,41,938 12,71,201 10,30,917 10,50,549 10,64,873
Change - 18.62% 18.04% 77.1% 2.36% -18.9% 1.9% 1.36%
P/E ratio 22.1x 31.3x 28.9x 36.7x 31.7x 28.3x 26.1x 21.3x
PBR 2.42x - 2.29x 3.25x 2.48x 1.81x 1.68x 1.57x
PEG - -1x 0.9x 1.2x 18.22x -2.5x 3.14x 0.9x
Capitalization / Revenue 2.12x 1.92x 1.86x 4.06x 3.78x 2.52x 2.21x 1.99x
EV / Revenue 1.73x 1.92x 1.8x 3.75x 3.63x 2.47x 2.21x 2.01x
EV / EBITDA 8.06x 15.3x 13.7x 19.4x 21.3x 14.1x 11.1x 9.39x
EV / EBIT 9.9x 22.9x 20.2x 26x 36.4x 25.6x 18.5x 15x
EV / FCF 16.8x - -20.1x 73.7x -19.7x -15x -44.4x -252x
FCF Yield 5.94% - -4.99% 1.36% -5.07% -6.68% -2.25% -0.4%
Dividend per Share 2 6.3 - 2.5 2 2 2.199 2.551 2.848
Rate of return 2.04% - 0.68% 0.33% 0.37% 0.52% 0.6% 0.67%
EPS 2 14 9.56 12.64 16.67 16.96 15.06 16.32 19.98
Distribution rate 45% - 19.8% 12% 11.8% 14.6% 15.6% 14.3%
Net sales 1 2,89,655 3,09,828 3,89,370 3,31,596 3,50,448 4,16,974 4,75,412 5,29,659
EBITDA 1 62,104 38,820 51,224 63,995 59,706 73,317 95,055 1,13,399
EBIT 1 50,579 25,896 34,777 47,761 34,923 40,198 56,852 71,072
Net income 1 27,804 19,385 25,834 35,768 41,674 38,672 42,121 51,529
Net Debt 1 -1,12,212 - -24,383 -1,03,699 -53,837 -21,091 -1,459 12,865
Reference price 2 308.75 299.20 365.45 612.30 537.95 425.60 425.60 425.60
Nbr of stocks (in thousands) 19,85,645 19,85,645 19,85,645 21,97,676 24,63,123 24,71,823 - -
Announcement Date 17/02/22 07/02/23 02/05/23 01/05/24 29/04/25 - - -
1INR in Million2INR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
28.26x2.47x14.06x0.52% 1.14TCr
16.68x2.03x9.7x1.56% 6.67TCr
28.93x5.55x16.18x0.58% 3.52TCr
28.55x4.72x15.2x0.79% 3.47TCr
37.84x3.75x19.69x0.76% 3.38TCr
13.33x1.54x7.11x2.23% 3.25TCr
20.92x2.72x10.31x1.04% 3.05TCr
416.17x4.54x107.24x0.39% 1.88TCr
30.97x6.03x16.87x1.22% 1.52TCr
Average 69.07x 3.71x 24.04x 1.01% 3.1TCr
Weighted average by Cap. 50.60x 3.44x 19.34x 1.13%

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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