Company Valuation: Tata Power Company Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 3,29,759 7,63,207 6,07,754 12,59,443 11,99,530 12,91,876 - -
Change - 131.44% -20.37% 107.23% -4.76% 7.7% - -
Enterprise Value (EV) 1 6,80,721 11,99,631 9,85,433 16,62,722 16,63,476 17,84,859 20,36,132 21,31,536
Change - 76.23% -17.86% 68.73% 0.05% 7.3% 5.36% 4.69%
P/E ratio 32.6x 44.6x 18.2x 34.1x 30.2x 32.3x 27x 23.4x
PBR 1.48x 3.4x 2.11x 3.89x 3.35x 3.07x 2.94x 2.65x
PEG - 0.6x 0.2x 3.1x 4.11x -5.73x 2.4x 1.5x
Capitalization / Revenue 1x 1.75x 1.07x 1.99x 1.79x 1.89x 1.71x 1.6x
EV / Revenue 2.07x 2.74x 1.74x 2.63x 2.48x 2.78x 2.7x 2.64x
EV / EBITDA 9.03x 16.5x 11.4x 15.3x 12.2x 11.9x 12.4x 11.4x
EV / EBIT 14.2x 28.9x 19x 23.4x 13.3x 17.6x 17.7x 16.2x
EV / FCF 13.3x -209x -198x -226x -36.2x -23.2x -30.8x -27.3x
FCF Yield 7.52% -0.48% -0.5% -0.44% -2.76% -4.31% -3.24% -3.66%
Dividend per Share 2 1.55 1.75 2 2 2.25 2.5 2.885 3.12
Rate of return 1.5% 0.73% 1.05% 0.51% 0.6% 0.66% 0.71% 0.77%
EPS 2 3.17 5.36 10.43 11.56 12.41 11.71 15 17.27
Distribution rate 48.9% 32.6% 19.2% 17.3% 18.1% 21.3% 19.2% 18.1%
Net sales 1 3,29,073 4,37,356 5,65,471 6,32,723 6,69,922 6,41,717 7,54,650 8,07,849
EBITDA 1 75,387 72,717 86,304 1,08,773 1,36,250 1,49,608 1,64,728 1,86,649
EBIT 1 47,938 41,495 51,912 70,909 1,25,360 1,01,497 1,15,222 1,31,228
Net income 1 11,274 17,415 33,364 36,962 39,710 37,472 48,774 55,948
Net Debt 1 3,50,962 4,36,424 3,77,679 4,03,279 4,63,946 5,74,784 7,44,256 8,39,660
Reference price 2 103.20 238.85 190.20 394.15 375.40 404.30 404.30 404.30
Nbr of stocks (in thousands) 31,95,340 31,95,340 31,95,340 31,95,340 31,95,340 31,95,340 - -
Announcement Date 12/05/21 06/05/22 04/05/23 08/05/24 14/05/25 12/05/26 - -
1INR in Million2INR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
30.04x2.88x13.42x0.62% 1.36TCr
30.13x5.34x39.11x0.21% 25TCr
21.18x8.98x14.32x2.95% 18TCr
19.75x4.17x11.33x3.67% 15TCr
13.3x1.92x6.74x5.38% 11TCr
20.53x5.85x12.93x3.33% 10TCr
18.09x5.57x11.11x3.59% 9.51TCr
20.58x3.13x12.41x0.68% 8.95TCr
19.89x5.14x12.35x3.05% 6.9TCr
18.2x6.19x13.25x4.08% 5.76TCr
Average 21.17x 4.92x 14.70x 2.76% 11.17TCr
Weighted average by Cap. 21.72x 5.30x 17.99x 2.62%

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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