Company Valuation: Finolex Cables Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 58,262 57,758 1,24,279 1,53,092 1,39,687 1,55,585 - -
Change - -0.87% 115.17% 23.18% -8.76% 11.38% - -
Enterprise Value (EV) 1 44,856 38,537 1,01,315 1,25,739 1,12,057 98,332 1,31,800 1,28,231
Change - -14.09% 162.91% 24.11% -10.88% -12.25% 3.39% -2.71%
P/E 20.6x 14.3x 24.8x 26.8x 25.7x 19.1x 21.3x 18.5x
PBR 1.97x 1.77x 3.35x 3.64x 3.04x 2.33x 2.74x 2.45x
PEG - 0.3x 1x 1.9x -5.43x 1.3x 1.3x 1.2x
Capitalization / Revenue 2.1x 1.53x 2.77x 3.05x 2.63x 1.88x 2.09x 1.85x
EV / Revenue 1.62x 1.02x 2.26x 2.51x 2.11x 1.56x 1.77x 1.53x
EV / EBITDA 12.6x 9.28x 20.4x 21.7x 21.8x 15.6x 16.9x 14.3x
EV / EBIT 14.2x 10.2x 22.6x 23.4x 24x 17.2x 18.5x 15.9x
EV / FCF 75.4x 9.49x 31.1x 35.1x -384x -93.5x 42.4x 37.5x
FCF Yield 1.33% 10.5% 3.21% 2.85% -0.26% -1.07% 2.36% 2.67%
Dividend per Share 2 5.5 6 7 8 8 9 9 10.2
Rate of return 1.44% 1.59% 0.86% 0.8% 0.88% 1.16% 0.88% 1%
EPS 2 18.5 26.46 32.81 37.37 35.6 40.73 47.7 55.04
Distribution rate 29.7% 22.7% 21.3% 21.4% 22.5% 22.1% 18.9% 18.5%
Net sales 1 27,681 37,681 44,811 50,144 53,189 63,210 74,309 84,065
EBITDA 1 3,548 4,152 4,956 5,807 5,142 6,301 7,795 8,946
EBIT 1 3,159 3,763 4,492 5,368 4,676 5,707 7,140 8,064
Net income 1 2,829 4,046 5,017 5,716 5,444 6,229 7,296 8,415
Net Debt 1 -13,406 -19,221 -22,964 -27,353 -27,630 -20,425 -23,785 -27,354
Reference price 2 380.95 377.65 812.60 1,001.00 913.35 1,017.30 1,017.30 1,017.30
Nbr of stocks (in thousands) 1,52,939 1,52,939 1,52,939 1,52,939 1,52,939 1,52,939 - -
Announcement Date 29/06/21 28/05/22 26/05/23 23/05/24 28/05/25 28/05/26 - -
1INR in Million2INR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
24.85x2.04x20.8x0.79% 161.56Cr
17.19x2.32x10.23x2.96% 25TCr
24.99x2.93x15.99x2.13% 23TCr
28.24x3.66x16.89x1.75% 17TCr
34.39x5.32x22.68x1.08% 16TCr
42.84x5.69x24.65x1.02% 14TCr
98.21x13.59x71.11x0.3% 11TCr
49.69x7.95x32.34x0.08% 11TCr
28.56x4.7x16.4x1.58% 7.82TCr
32.72x6.83x21.28x0.57% 5.43TCr
Average 38.17x 5.50x 25.24x 1.23% 13.02TCr
Weighted average by Cap. 35.86x 5.09x 23.09x 1.57%

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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