德安华（Kroll）：2025年第四季度印度各行业估值倍数报告（英文版）（82页）.pdf

1、Industry Multiples in IndiaIndustry Multiples in IndiaFebruary 2026Q4 CY 2025Table of Contents3-4Foreword 5-6Summary:Multiples by Sector 7Median EV/EBITDA Multiples by Sector Industry Multiples 8-10Apparel 11-13Application Software 14-16Auto Parts and Equipment 17-19Automobile Manufacturers20-22Chem

2、icals23-25Construction and Engineering 26-28Construction Material29-31Electric and Gas Utilities 32-34Energy35-37Health Care Facilities and Services38-40Household and Personal Products 41-43Household Appliances 44-46Independent Power and Renewable Electricity Producers47-49Industrial Machinery 50-52

3、Internet Services and Infrastructure 53-55Media56-58Metals and Mining 59-61Pharmaceuticals and Biotechnology 62-64Real Estate 65-67Banks68-70Capital Markets71-73Consumer Finance 74-76Diversified Financial Services77Criteria December 202578-81Industry Definitions2Dear Readers,We are pleased to introd

4、uce the 28th edition of our Industry Multiples in India report.This report provides an overview of trading multiples for various key industries in India as of December 31,2025,using constituents of the Standard and Poors(S&P)BSE Large Cap,S&P BSE Midcap and S&P BSE SmallCap indices.Per the Internati

5、onal Monetary Funds(IMFs)World Economic Outlook report,“Global Economy:Steady amid Divergent Forces,”the global growth is estimated to remain steady at 3.3%in 2025 and 2026,like 2024.The regional growth expectations are as follows:U.S.:Growth in 2025 is estimated to decline to 2.1%,resulting in a 0.

6、7%point drop from the 2024,mainly because policy uncertainty remains high due to pending Supreme Court decisions and lack of transparency in newly signed bilateral trade agreements.Growth in 2026 is anticipated to expand to 2.4%,due to government support,lower interest rates and the gradually fading