Company Valuation: Hindustan Aeronautics Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 3,32,699 4,96,532 9,13,246 22,25,014 27,93,774 30,88,737 - -
Change - 49.24% 83.92% 143.64% 25.56% 10.56% - -
Enterprise Value (EV) 1 3,32,699 3,53,096 7,10,184 19,60,796 24,12,067 25,55,471 24,99,435 24,56,484
Change - 6.13% 101.13% 176.1% 23.01% 5.95% -2.19% -1.72%
P/E ratio 10.3x 9.76x 15.7x 29.3x 33.6x 35.8x 31.5x 27.5x
PBR 2.17x 2.58x 3.89x 7.66x 8.02x 7.66x 6.64x 5.75x
PEG - 0.2x 1.1x 1x 3.54x 9.56x 2.3x 1.9x
Capitalization / Revenue 1.46x 2.02x 3.39x 7.32x 9.02x 9.22x 7.8x 6.71x
EV / Revenue 1.46x 1.43x 2.64x 6.45x 7.79x 7.63x 6.31x 5.33x
EV / EBITDA 6.22x 6.52x 10.7x 20.1x 25.1x 26.5x 22.4x 19.1x
EV / EBIT 7.98x 8.21x 14.6x 23.5x 29.2x 32.1x 27x 23.2x
EV / FCF 2.29x 3.82x 10.1x 30.3x 20.3x 328x 27.3x 27x
FCF Yield 43.6% 26.2% 9.93% 3.3% 4.93% 0.31% 3.66% 3.71%
Dividend per Share 2 15 25 20 35 23 42.51 46.62 51.52
Rate of return 3.02% 3.37% 1.46% 1.05% 0.55% 0.92% 1.01% 1.12%
EPS 2 48.34 76.06 86.9 113.6 124.4 129 146.6 168.1
Distribution rate 31% 32.9% 23% 30.8% 18.5% 32.9% 31.8% 30.6%
Net sales 1 2,27,546 2,46,202 2,69,278 3,03,808 3,09,809 3,34,940 3,96,160 4,60,478
EBITDA 1 53,469 54,128 66,630 97,389 96,216 96,412 1,11,614 1,28,945
EBIT 1 41,693 43,030 48,790 83,325 82,574 79,583 92,700 1,05,723
Net income 1 32,330 50,865 58,112 75,950 83,168 86,621 98,248 1,12,743
Net Debt 1 - -1,43,436 -2,03,062 -2,64,218 -3,81,708 -5,33,266 -5,89,303 -6,32,253
Reference price 2 497.48 742.45 1,365.55 3,327.00 4,177.45 4,618.50 4,618.50 4,618.50
Nbr of stocks (in thousands) 6,68,775 6,68,775 6,68,775 6,68,775 6,68,775 6,68,775 - -
Announcement Date 28/06/21 13/05/22 12/05/23 16/05/24 14/05/25 - - -
1INR in Million2INR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
35.44x7.54x26.19x0.93% 3.19TCr
36.93x6.56x27.17x0.61% 31TCr
31.18x2.85x16.94x1.6% 24TCr
31.69x4.24x19.36x1.03% 13TCr
20.81x1.75x14.37x1.84% 9.36TCr
24.62x1.89x13.47x2.05% 7.77TCr
19.97x2x14.18x1.74% 7.93TCr
-438.69x74.05x-1253.27x-.--% 6.8TCr
32.46x3.63x16.3x1.37% 6.34TCr
26.62x2.82x15.67x1.6% 5.77TCr
Average -17.90x 10.73x -108.96x 1.28% 11.56TCr
Weighted average by Cap. 3.03x 8.16x -55.28x 1.2%

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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