Company Valuation: Shriram Finance Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 359,828 307,067 471,722 886,946 1,233,250 1,900,115 - -
Change - -14.66% 53.62% 88.02% 39.04% 54.07% - -
Enterprise Value (EV) 1 1,098,545 1,072,487 1,536,847 2,192,795 3,361,565 3,686,108 3,968,208 4,296,342
Change - -2.37% 43.3% 42.68% 53.3% 9.65% 7.65% 8.27%
P/E ratio 14.1x 11.2x 7.92x 12.4x 12.6x 21.3x 17.3x 14x
PBR 1.67x 1.17x 1.09x 1.83x 2.19x 2.71x 2.13x 1.89x
PEG - 14.69x 0.1x 0.6x 0.4x -2.51x 0.7x 0.6x
Capitalization / Revenue 4.29x 3.22x 2.73x 4.4x 5.27x 7.12x 5.66x 4.73x
EV / Revenue 13.1x 11.2x 8.91x 10.9x 14.4x 13.8x 11.8x 10.7x
EV / EBITDA - - - 14.8x 19.9x 27.4x 23.7x 21.5x
EV / EBIT 17.2x 14.5x 12.5x 15.4x 20.7x 19.9x 16.2x 14.3x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 3.6 4 4 9 9.9 10.22 11.8 13.46
Rate of return 1.27% 1.76% 1.59% 1.91% 1.51% 1.01% 1.17% 1.33%
EPS 2 20.19 20.35 31.8 38.2 51.85 47.44 58.46 72.24
Distribution rate 17.8% 19.7% 12.6% 23.6% 19.1% 21.5% 20.2% 18.6%
Net sales 1 83,821 95,399 172,571 201,583 234,049 266,700 335,517 401,892
EBITDA 1 - - - 147,708 169,062 134,612 167,270 199,700
EBIT 1 63,964 74,101 123,441 142,020 162,609 185,082 245,483 299,739
Net income 1 24,873 27,079 59,793 71,905 97,610 97,587 134,255 166,113
Net Debt 1 738,717 765,420 1,065,125 1,305,848 2,128,315 1,785,992 2,068,093 2,396,227
Reference price 2 284.38 227.02 251.97 472.04 655.85 1,009.90 1,009.90 1,009.90
Nbr of stocks (in thousands) 1,265,308 1,352,599 1,872,136 1,878,964 1,880,384 1,881,488 - -
Announcement Date 29/04/21 28/04/22 27/04/23 26/04/24 25/04/25 - - -
1INR in Million2INR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.29x13.82x27.38x1.01% 20.61B
30.54x17.35x - 0.54% 63.65B
12x3.36x24.99x3.24% 34.01B
28.08x3.05x16.81x0.07% 32.71B
7.48x1.76x - 1.81% 24.08B
30.95x4.48x13x-.--% 23.85B
27.35x19.93x49.79x0.13% 15.28B
14.07x - - 1.22% 14.55B
27.15x - - - 14.62B
Average 22.10x 9.11x 26.40x 1% 27.04B
Weighted average by Cap. 23.20x 9.60x 24.00x 1.01%

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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