Company Valuation: HFCL Limited

Fiscal Period: March 2019 2020 2021 2022 2023 2024
Capitalization 1 28,737 11,624 32,302 1,08,337 83,974 1,32,281
Change - -59.55% 177.9% 235.39% -22.49% 57.53%
Enterprise Value (EV) 1 34,441 18,770 41,450 1,13,398 92,569 1,41,217
Change - -45.5% 120.83% 173.58% -18.37% 52.55%
P/E ratio 12.9x 5.14x 13.5x 33.1x 28x 39.4x
PBR 1.99x 0.7x 1.69x 3.87x 2.7x 3.34x
PEG - 8.99x 2.36x 1.2x -3.33x 5.73x
Capitalization / Revenue 0.61x 0.3x 0.73x 2.29x 1.77x 2.96x
EV / Revenue 0.73x 0.49x 0.94x 2.4x 1.95x 3.16x
EV / EBITDA 8.43x 3.75x 7.7x 17.3x 15.1x 24.9x
EV / EBIT 8.96x 4.02x 8.61x 19.4x 17.3x 28.3x
EV / FCF -16.6x -15.7x 103x 1,565x -14.8x -31.7x
FCF Yield -6.03% -6.38% 0.97% 0.06% -6.74% -3.16%
Dividend per Share 2 0.1 - 0.15 0.18 0.2 0.2
Rate of return 0.44% - 0.6% 0.23% 0.33% 0.22%
EPS 2 1.75 1.76 1.861 2.38 2.18 2.33
Distribution rate 5.71% - 8.06% 7.56% 9.17% 8.58%
Net sales 1 47,378 38,389 44,230 47,271 47,433 44,650
EBITDA 1 4,086 5,000 5,381 6,573 6,112 5,677
EBIT 1 3,843 4,673 4,814 5,856 5,357 4,998
Net income 1 2,199 2,272 2,390 3,131 3,010 3,298
Net Debt 1 5,704 7,146 9,148 5,061 8,595 8,936
Reference price 2 22.55 9.05 25.15 78.70 60.95 91.80
Nbr of stocks (in thousands) 12,74,377 12,84,377 12,84,377 13,76,584 13,77,758 14,40,973
Announcement Date 01/09/19 05/09/20 07/09/21 08/09/22 06/09/23 05/09/24
1INR in Million2INR
Estimates

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P/E ratio EV / Sales EV / EBITDA Yield (Y) Capi. ($)
22.38x3.78x10.34x+3.25%199B
46.01x15.67x34.12x-.--%113B
51.35x7.23x23.02x+0.86%73.7B
14.73x0.58x10.15x+3.59%53.9B
28.85x5.21x21.11x+1.74%33.19B
15.37x1.89x10.04x+3.84%32.64B
33.34x0.95x7.15x+3.58%24.79B
15.64x0.82x4.96x+3.67%22.92B
23.69x4.88x19.09x+0.67%18.05B
Average 27.93x 4.56x 15.55x +2.36% 63.44B
Weighted average by Cap. 30.30x 6.04x 17.20x +2.23%
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Year-on-year evolution of the PER

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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