Company Valuation: HDFC Life Insurance Company Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 14,06,981 11,37,012 10,72,979 13,62,300 14,76,304 13,03,647 - -
Change - -19.19% -5.63% 26.96% 8.37% -11.7% - -
Enterprise Value (EV) 1 14,06,981 11,37,012 10,72,979 13,56,508 14,88,107 13,14,027 13,13,071 13,12,067
Change - -19.19% -5.63% 26.42% 9.7% -11.7% -0.07% -0.08%
P/E ratio 103x 91.2x 78.4x 86.9x 81.9x 66.4x 56.6x 49.8x
PBR 16.3x 7.11x 8.26x 9.3x 9.16x 7.54x 6.79x 6.11x
PEG - -7.4x 9.84x 6x 5.5x 7.58x 3.3x 3.6x
Capitalization / Revenue 1.97x 1.74x 1.52x 1.35x 1.54x 1.2x 1.06x 0.92x
EV / Revenue 1.97x 1.74x 1.52x 1.35x 1.55x 1.21x 1.07x 0.93x
EV / EBITDA - - - - - - - -
EV / EBIT 104x 96.3x 84.3x 86.7x 79.7x 74.9x 51.2x 46.8x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 2.02 1.7 1.9 2 2.1 2.22 2.592 2.858
Rate of return 0.29% 0.32% 0.38% 0.32% 0.31% 0.37% 0.43% 0.47%
EPS 2 6.73 5.9 6.37 7.29 8.37 9.103 10.68 12.14
Distribution rate 30% 28.8% 29.8% 27.4% 25.1% 24.4% 24.3% 23.5%
Net sales 1 7,12,418 6,53,584 7,07,054 10,07,743 9,59,448 10,86,142 12,32,207 14,12,671
EBITDA - - - - - - - -
EBIT 1 13,535 11,801 12,724 15,638 18,661 17,546 25,650 28,030
Net income 1 13,601 12,077 13,601 15,689 18,021 19,839 23,424 27,146
Net Debt 1 - - - -5,792 11,803 10,380 9,424 8,420
Reference price 2 696.20 538.20 499.20 633.35 685.70 604.15 604.15 604.15
Nbr of stocks (in thousands) 20,20,944 21,12,619 21,49,396 21,50,944 21,52,988 21,57,820 - -
Announcement Date 26/04/21 26/04/22 26/04/23 18/04/24 17/04/25 - - -
1INR in Million2INR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
66.37x1.21x - 0.37% 1.4TCr
5.38x1.95x - 3.73% 14TCr
15.51x - - 2.41% 12TCr
9.9x0.47x11.7x1.51% 5.43TCr
10.21x - - 4.09% 3.87TCr
15.51x10.36x98.46x2.69% 3.08TCr
9x2.08x10.17x5.76% 2.2TCr
72.52x1.48x - 0.17% 2.07TCr
15.59x0.77x - 3.17% 1.21TCr
9.6x2.36x8.92x0.81% 1.14TCr
Average 22.96x 2.59x 32.31x 2.47% 4.64TCr
Weighted average by Cap. 14.97x 2.45x 33.70x 2.84%

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 HDFC Life Insurance Company Limited