Company Valuation: Britannia Industries Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 8,73,160 7,72,320 10,41,069 11,82,964 11,89,143 12,80,335 - -
Change - -11.55% 34.8% 13.63% 0.52% 7.67% - -
Enterprise Value (EV) 1 8,74,008 7,86,946 10,51,053 11,81,948 11,69,961 12,96,530 12,51,600 12,42,533
Change - -9.96% 33.56% 12.45% -1.01% 10.82% -0.71% -0.72%
P/E 46.8x 50.6x 44.8x 55.3x 54.6x 51.6x 46.7x 41.1x
PBR 24.6x 30.2x 29.5x 30x 27.3x 25.6x 22.8x 20.2x
PEG - -2.8x 0.9x -7.06x 30.13x 3.2x 5.76x 3x
Capitalization / Revenue 6.65x 5.46x 6.39x 7.05x 6.63x 6.82x 6.08x 5.52x
EV / Revenue 6.65x 5.57x 6.45x 7.05x 6.52x 6.77x 5.95x 5.35x
EV / EBITDA 34.8x 35.7x 37.1x 37.3x 36.7x 36.6x 32.1x 28.2x
EV / EBIT 37.8x 39.3x 40.3x 41.2x 40.7x 40.4x 35.2x 30.8x
EV / FCF 54.3x 105x 58x 58.8x 55.6x 53.9x 45.8x 39.9x
FCF Yield 1.84% 0.95% 1.73% 1.7% 1.8% 1.86% 2.18% 2.51%
Dividend per Share 2 62 56.5 72 73.5 75 90.5 92.86 103.5
Rate of return 1.71% 1.76% 1.67% 1.5% 1.52% 1.67% 1.75% 1.95%
EPS 2 77.4 63.31 96.39 88.84 90.45 105.2 113.9 129.5
Distribution rate 80.1% 89.2% 74.7% 82.7% 82.9% 86% 81.6% 80%
Net sales 1 1,31,361 1,41,363 1,63,006 1,67,693 1,79,427 1,91,516 2,10,522 2,32,067
EBITDA 1 25,093 22,015 28,309 31,698 31,872 35,442 38,992 44,052
EBIT 1 23,114 20,010 26,050 28,694 28,738 32,074 35,594 40,355
Net income 1 18,639 15,248 23,218 21,398 21,787 25,335 27,454 31,200
Net Debt 1 848.2 14,626 9,984 -1,016 -19,181 -9,699 -28,735 -37,803
Reference price 2 3,625.05 3,206.40 4,322.15 4,911.25 4,936.90 5,315.50 5,315.50 5,315.50
Nbr of stocks (in thousands) 2,40,868 2,40,868 2,40,868 2,40,868 2,40,868 2,40,868 - -
Announcement Date 27/04/21 02/05/22 05/05/23 03/05/24 08/05/25 07/05/26 - -
1INR in Million2INR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
50.17x6.49x34.3x1.55% 1.32TCr
14.43x2.54x9.67x0.54% 542.58Cr
12.98x1.07x7.66x4.3% 318.68Cr
8.02x0.5x4.31x3.45% 119.19Cr
5.12x0.46x3.14x11.43% 75Cr
29.97x2.12x16.09x0.85% 53Cr
17.85x - - 1.89% 50Cr
Average 19.79x 2.20x 12.53x 3.43% 354.84Cr
Weighted average by Cap. 33.12x 4.33x 22.49x 2.07%

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 Britannia Industries Limited