Financials Huhtamaki India Limited NSE India S.E.

Equities

HUHTAMAKI

INE275B01026

Paper Packaging

Market Closed - NSE India S.E. Other stock markets 05:19:10 14/05/2024 pm IST			5-day change	1st Jan Change
299.8 ^INR	+2.30%		-0.81%	+4.50%

10/05	Huhtamaki India Limited Approves Declaration of Dividend	CI
26/04	Transcript : Huhtamaki India Limited, Q1 2024 Earnings Call, Apr 26, 2024

Valuation

Fiscal Period: December	2019	2020	2021	2023	2024	2025	2026
Capitalization ¹	18,601	23,608	17,204	21,645	22,604	-	-
Enterprise Value (EV) ¹	20,843	25,866	20,470	21,645	22,604	22,604	22,604
P/E ratio	10.9 x	24.6 x	-	5.28 x	16.2 x	12.4 x	10.5 x
Yield	-	-	-	1.74%	0.67%	0.67%	0.67%
Capitalization / Revenue	0.72 x	0.96 x	0.66 x	0.85 x	0.86 x	0.78 x	0.71 x
EV / Revenue	0.72 x	0.96 x	0.66 x	0.85 x	0.86 x	0.78 x	0.71 x
EV / EBITDA	6.01 x	10.1 x	15.8 x	11.1 x	10.5 x	8.31 x	7.14 x
EV / FCF	8.57 x	19.6 x	-16.1 x	12.1 x	-18.4 x	19.3 x	11 x
FCF Yield	11.7%	5.1%	-6.21%	8.25%	-5.45%	5.17%	9.11%
Price to Book	2.67 x	-	-	1.88 x	1.77 x	1.57 x	1.38 x
Nbr of stocks (in thousands)	75,522	75,522	75,522	75,522	75,522	-	-
Reference price ²	246.3	312.6	227.8	286.6	299.3	299.3	299.3
Announcement Date	17/02/20	24/02/21	28/02/22	06/02/24	-	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2023	2024	2025	2026
Net sales ¹	25,824	24,627	26,253	25,494	26,322	29,051	31,672
EBITDA ¹	3,096	2,336	1,090	1,947	2,159	2,720	3,166
EBIT ¹	-	-	-	1,456	2,054	2,593	3,015
Operating Margin	-	-	-	5.71%	7.8%	8.93%	9.52%
Earnings before Tax (EBT) ¹	2,016	-	-315.7	5,000	1,862	2,429	2,878
Net income ¹	1,700	959.9	-226.9	4,096	1,394	1,819	2,155
Net margin	6.58%	3.9%	-0.86%	16.07%	5.3%	6.26%	6.8%
EPS ²	22.52	12.71	-	54.24	18.50	24.10	28.50
Free Cash Flow ¹	2,170	1,205	-1,068	1,787	-1,231	1,169	2,060
FCF margin	8.4%	4.89%	-4.07%	7.01%	-4.68%	4.02%	6.5%
FCF Conversion (EBITDA)	70.07%	51.57%	-	91.76%	-	42.98%	65.07%
FCF Conversion (Net income)	127.59%	125.51%	-	43.61%	-	64.27%	95.59%
Dividend per Share ²	-	-	-	5.000	2.000	2.000	2.000
Announcement Date	17/02/20	24/02/21	28/02/22	06/02/24	-	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q3	2023 Q1	2023 Q2	2023 Q3	2023 Q4
Net sales ¹	6,687	-	6,217	-	6,037
EBITDA ¹	312.8	-	399.7	-	577.2
EBIT	-	-	-	-	-
Operating Margin	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-
Net income	-218.4	354.9	-	322.7	-
Net margin	-3.27%	-	-	-	-
EPS	-2.890	4.700	-	4.270	-
Dividend per Share	-	-	-	-	-
Announcement Date	22/10/21	25/04/23	17/07/23	17/10/23	06/02/24

¹INR in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2023	2024	2025	2026
Net Debt	2,242	2,257	3,267	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	0.7242 x	0.9663 x	2.996 x	-	-	-	-
Free Cash Flow ¹	2,170	1,205	-1,068	1,787	-1,231	1,169	2,060
ROE (net income / shareholders' equity)	27.1%	13.1%	-3.06%	12.9%	11.5%	13.4%	14%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-
Book Value Per Share ²	92.30	-	-	152.0	169.0	191.0	217.0
Cash Flow per Share	-	-	-	-	-	-	-
Capex ¹	676	489	791	949	1,006	502	-
Capex / Sales	2.62%	1.98%	3.01%	3.72%	3.82%	1.73%	-
Announcement Date	17/02/20	24/02/21	28/02/22	06/02/24	-	-	-

¹INR in Million²INR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Huhtamaki India Limited

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

299.3 INR

Average target price

434 INR

Spread / Average Target

+45.01%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

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