Looks like there`s been an error while trying to load this page.
Our team has been notified but please contact us using the email support widget if the problem persists.
| Metrics | Range | Conclusion |
|---|---|---|
| Selected LTM Revenue Multiple | 8.5x - 9.4x | 9.0x |
| Selected Fwd Revenue Multiple | 6.8x - 7.5x | 7.2x |
| Fair Value | ₹321.09 - ₹353.51 | ₹337.30 |
| Upside | 1.0% - 11.1% | 6.1% |
| Benchmarks | Ticker | Full Ticker |
|---|---|---|
| GE Vernova T&D India Limited | GVT&D | NSEI:GVT&D |
| Hitachi Energy India Limited | POWERINDIA | NSEI:POWERINDIA |
| Transformers and Rectifiers (India) Limited | TARIL | NSEI:TARIL |
| CG Power and Industrial Solutions Limited | CGPOWER | NSEI:CGPOWER |
| Refex Renewables & Infrastructure Limited | 531260 | BSE:531260 |
| Quality Power Electrical Equipments Limited | 544367 | BSE:544367 |
| Select LTM Revenue Multiple | ||||||||
| Benchmark Companies | ||||||||
| GVT&D | POWERINDIA | TARIL | CGPOWER | 531260 | 544367 | |||
| NSEI:GVT&D | NSEI:POWERINDIA | NSEI:TARIL | NSEI:CGPOWER | BSE:531260 | BSE:544367 | |||
| Historical Revenue Growth | ||||||||
| 5Y CAGR | -5.6% | 6.2% | 8.6% | 0.1% | 1.5% | NM- | ||
| 3Y CAGR | -2.8% | 11.6% | 20.4% | 39.5% | 1.9% | NM- | ||
| Latest Twelve Months | 37.1% | 27.1% | 54.0% | 20.5% | -29.2% | NM | ||
| Historical EBIT Profit Margin | ||||||||
| 5 Year Average Margin | 2.1% | 4.6% | 6.9% | 6.8% | -18.3% | 15.0% | ||
| Prior Fiscal Year | 3.6% | 4.1% | 6.9% | 12.9% | -9.8% | 11.8% | ||
| Latest Fiscal Year | 9.0% | 5.0% | 8.4% | 12.8% | 20.0% | 11.5% | ||
| Latest Twelve Months | 16.5% | 7.1% | 13.0% | 12.2% | 15.1% | 25.3% | ||
| Current Trading Multiples | ||||||||
| EV / LTM Revenue | 9.80x | 8.70x | 8.60x | 10.30x | 10.59x | 8.99x | ||
| EV / LTM EBIT | 59.2x | 121.7x | 65.9x | 84.7x | 70.2x | 35.5x | ||
| Price / LTM Sales | 9.81x | 8.65x | 8.67x | 10.44x | 4.15x | 9.17x | ||
| Low | Mid | High | ||||||
| Benchmark EV / LTM Revenue | 8.60x | 9.80x | 10.59x | |||||
| Historical EV / LTM Revenue | 0.00x | NM | 0.00x | |||||
| Selected EV / LTM Revenue | 8.51x | 8.96x | 9.40x | |||||
| (x) LTM Revenue | 2,691 | 2,691 | 2,691 | |||||
| (=) Implied Enterprise Value | 22,895 | 24,100 | 25,305 | |||||
| (-) Non-shareholder Claims * | 1,012 | 1,012 | 1,012 | |||||
| (=) Equity Value | 23,906 | 25,111 | 26,316 | |||||
| (/) Shares Outstanding | 77.4 | 77.4 | 77.4 | |||||
| Implied Value Range | 308.69 | 324.25 | 339.81 | |||||
| FX Rate: INR/INR | 1.0 | 1.0 | 1.0 | Market Price | ||||
| Implied Value Range (Trading Cur) | 308.69 | 324.25 | 339.81 | 318.05 | ||||
| Upside / (Downside) | -2.9% | 1.9% | 6.8% | |||||
| Equity Waterfall | |||||||
| Benchmark Companies | |||||||
| (in millions) | GVT&D | POWERINDIA | TARIL | CGPOWER | 531260 | 544367 | |
| Enterprise Value | 398,624 | 538,970 | 159,465 | 960,844 | 7,014 | 23,619 | |
| (+) Cash & Short Term Investments | 870 | 783 | 3,925 | 15,641 | 67 | 1,267 | |
| (+) Investments & Other | 0 | 0 | 0 | 0 | 0 | 0 | |
| (-) Debt | (381) | (3,471) | (2,441) | (302) | (4,355) | (256) | |
| (-) 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 | 399,113 | 536,283 | 160,949 | 976,183 | 2,727 | 24,631 | |
| (/) Shares Outstanding | 256.0 | 42.4 | 300.2 | 1,528.9 | 4.5 | 77.4 | |
| Implied Stock Price | 1,558.75 | 12,653.65 | 536.20 | 638.50 | 606.40 | 318.05 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
| Implied Stock Price (Trading Cur) | 1,558.75 | 12,653.65 | 536.20 | 638.50 | 606.40 | 318.05 | |
| 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 | |