Company Valuation: Gujarat Energy Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 3,78,236 3,46,432 3,16,384 3,74,656 2,83,858 1,83,800 - -
Change - -8.41% -8.67% 18.42% -24.24% -35.25% - -
Enterprise Value (EV) 1 3,82,726 3,50,129 3,09,574 3,65,395 2,80,264 2,28,966 1,78,613 1,75,451
Change - -8.52% -11.58% 18.03% -23.3% -18.3% 0.32% -1.77%
P/E 29.6x 26.9x 20.7x 32.8x 24.7x 14.3x 9.37x 9.47x
PBR 8.38x 6.15x 4.5x 4.85x 3.34x 1.56x 1.12x 1.16x
PEG - 41.61x 1.1x -1.3x 58.61x 0.5x 0.1x -9.43x
Capitalization / Revenue 3.84x 2.11x 1.89x 2.39x 1.72x 0.9x 0.49x 0.5x
EV / Revenue 3.88x 2.13x 1.85x 2.33x 1.7x 0.97x 0.48x 0.47x
EV / EBITDA 18.3x 16.9x 12.9x 19.5x 14.9x 7.5x 5.42x 5.08x
EV / EBIT 21.9x 20.7x 15.8x 26.1x 20.5x 10.6x 6.37x 6.07x
EV / FCF 42.3x 119x 24x 45.9x 26.6x 13x 10.2x 8.68x
FCF Yield 2.36% 0.84% 4.16% 2.18% 3.76% 7.72% 9.85% 11.5%
Dividend per Share 2 2 2 6.65 5.66 5.82 8.9 8.89 8.567
Rate of return 0.36% 0.4% 1.45% 1.04% 1.41% 2.9% 3.33% 3.21%
EPS 2 18.56 18.68 22.2 16.61 16.68 21.55 28.49 28.2
Distribution rate 10.8% 10.7% 30% 34.1% 34.9% 41.3% 31.2% 30.4%
Net sales 1 98,542 1,64,562 1,67,594 1,56,902 1,64,870 2,36,144 3,75,178 3,71,148
EBITDA 1 20,878 20,763 23,920 18,764 18,798 30,520 32,952 34,540
EBIT 1 17,470 16,914 19,637 14,021 13,691 21,531 28,056 28,895
Net income 1 12,777 12,856 15,284 11,437 11,483 20,189 24,809 24,894
Net Debt 1 4,490 3,697 -6,810 -9,261 -3,594 17,458 -5,187 -8,349
Reference price 2 549.45 503.25 459.60 544.25 412.35 267.00 267.00 267.00
Nbr of stocks (in thousands) 6,88,390 6,88,390 6,88,390 6,88,390 6,88,390 6,88,390 - -
Announcement Date 01/06/21 10/05/22 10/05/23 06/05/24 19/05/25 30/05/26 - -
1INR in Million2INR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
17.07x1.22x10.14x1.98% 193.92Cr
13.58x7.54x9.84x4.79% 1.16TCr
14.67x5.96x21.2x9.05% 845.75Cr
11.83x - - 4.08% 787.47Cr
10.08x0.48x3.84x5.64% 773.99Cr
21.52x5.5x11.56x2.78% 663.89Cr
16.37x4.49x12.96x3.27% 591Cr
16.6x3.37x10.03x3.42% 498.65Cr
14.92x0.93x9.58x4.21% 353.9Cr
Average 15.18x 3.68x 11.14x 4.36% 652.45Cr
Weighted average by Cap. 14.67x 4.47x 11.41x 4.8%

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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