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Metrics | Range | Conclusion |
---|---|---|
Selected LTM EBIT Multiple | 24.8x - 27.4x | 26.1x |
Selected Fwd EBIT Multiple | 14.7x - 16.3x | 15.5x |
Fair Value | ₹123.18 - ₹135.38 | ₹129.28 |
Upside | -13.3% - -4.7% | -9.0% |
Benchmarks | Ticker | Full Ticker |
Sailani Tours N Travels Limited | 543541 | BSE:543541 |
India Tourism Development Corporation Limited | 532189 | BSE:532189 |
TGB Banquets and Hotels Limited | 532845 | BSE:532845 |
Coffee Day Enterprises Limited | 539436 | BSE:539436 |
Apollo Sindoori Hotels Limited | APOLSINHOT | NSEI:APOLSINHOT |
Speciality Restaurants Limited | 534425 | BSE:534425 |
- | - | - |
Select LTM EBIT Multiple | |||||||
Benchmark Companies | |||||||
543541 | 532189 | 532845 | 539436 | APOLSINHOT | 534425 | ||
BSE:543541 | BSE:532189 | BSE:532845 | BSE:539436 | NSEI:APOLSINHOT | BSE:534425 | ||
Historical EBIT Growth | |||||||
5Y CAGR | NM- | 38.8% | NM- | -32.5% | 12.4% | NM- | |
3Y CAGR | 113.3% | NM- | NM- | NM- | 107.3% | NM- | |
Latest Twelve Months | -28.6% | -8.2% | -1027.6% | -82.2% | -42.4% | 3.4% | |
Historical EBIT Profit Margin | |||||||
5 Year Average Margin | 2.3% | 3.0% | -14.1% | -27.1% | 3.6% | 1.4% | |
Prior Fiscal Year | 2.5% | 14.2% | -1.4% | -42.8% | 4.5% | 12.1% | |
Latest Fiscal Year | 2.0% | 18.0% | -16.2% | 4.7% | 3.9% | 7.1% | |
Latest Twelve Months | 2.1% | 15.0% | -16.8% | 1.0% | 2.8% | 5.7% | |
Current Trading Multiples | |||||||
EV / LTM Revenue | 0.63x | 9.24x | 1.35x | 1.87x | 0.59x | 1.56x | |
EV / LTM EBITDA | 13.6x | 56.7x | -8.7x | 26.3x | 15.8x | 17.1x | |
EV / LTM EBIT | 29.8x | 61.5x | -8.0x | 187.1x | 20.9x | 27.5x | |
Low | Mid | High | |||||
Benchmark EV / LTM EBIT | -8.0x | 29.8x | 187.1x | ||||
Historical EV / LTM EBIT | -6.4x | 20.2x | 47.6x | ||||
Selected EV / LTM EBIT | 24.8x | 26.1x | 27.4x | ||||
(x) LTM EBIT | 243 | 243 | 243 | ||||
(=) Implied Enterprise Value | 6,020 | 6,337 | 6,654 | ||||
(-) Non-shareholder Claims * | 350 | 350 | 350 | ||||
(=) Equity Value | 6,370 | 6,687 | 7,004 | ||||
(/) Shares Outstanding | 48.2 | 48.2 | 48.2 | ||||
Implied Value Range | 132.07 | 138.64 | 145.21 | ||||
FX Rate: INR/INR | 1.0 | 1.0 | 1.0 | Market Price | |||
Implied Value Range (Trading Cur) | 132.07 | 138.64 | 145.21 | 142.10 | |||
Upside / (Downside) | -7.1% | -2.4% | 2.2% |
Equity Waterfall | |||||||
Benchmark Companies | |||||||
(in millions) | 543541 | 532189 | 532845 | 539436 | APOLSINHOT | 534425 | |
Enterprise Value | 96 | 49,788 | 477 | 17,341 | 3,186 | 6,504 | |
(+) Cash & Short Term Investments | 3 | 1,208 | 4 | 2,609 | 985 | 1,733 | |
(+) Investments & Other | 0 | 0 | 0 | 0 | 0 | 0 | |
(-) Debt | (20) | (6) | (181) | (14,035) | (846) | (1,382) | |
(-) Other Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | |
(-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
(-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
Value of Common Equity | 79 | 50,990 | 300 | 5,915 | 3,325 | 6,854 | |
(/) Shares Outstanding | 4.7 | 85.8 | 29.3 | 211.3 | 2.6 | 48.2 | |
Implied Stock Price | 16.71 | 594.50 | 10.23 | 28.00 | 1,278.70 | 142.10 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 16.71 | 594.50 | 10.23 | 28.00 | 1,278.70 | 142.10 | |
Trading Currency | INR | INR | INR | INR | INR | INR | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |