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| Metrics | Range | Conclusion |
|---|---|---|
| Selected LTM P/E Multiple | 33.2x - 36.7x | 35.0x |
| Selected Fwd P/E Multiple | 23.7x - 26.2x | 24.9x |
| Fair Value | ₹654.47 - ₹723.37 | ₹688.92 |
| Upside | -8.0% - 1.7% | -3.2% |
| Benchmarks | - | Full Ticker |
| Coforge Limited | - | NSEI:COFORGE |
| Mphasis Limited | - | NSEI:MPHASIS |
| Persistent Systems Limited | - | NSEI:PERSISTENT |
| Cigniti Technologies Limited | - | NSEI:CIGNITITEC |
| LTIMindtree Limited | - | NSEI:LTIM |
| Hexaware Technologies Limited | - | NSEI:HEXT |
| - | - | - |
| Select Price / LTM EPS Ratio | ||||||||
| Benchmark Companies | ||||||||
| COFORGE | MPHASIS | PERSISTENT | CIGNITITEC | LTIM | HEXT | |||
| NSEI:COFORGE | NSEI:MPHASIS | NSEI:PERSISTENT | NSEI:CIGNITITEC | NSEI:LTIM | NSEI:HEXT | |||
| Historical Net Income Growth | ||||||||
| 5Y CAGR | 14.9% | 7.7% | 25.5% | 2.4% | 24.8% | 12.9% | ||
| 3Y CAGR | 21.0% | 8.5% | 34.4% | 16.3% | 33.3% | 16.3% | ||
| Latest Twelve Months | 10.8% | 5.2% | 28.2% | -17.9% | -0.6% | 17.9% | ||
| Historical Net Income Profit Margin | ||||||||
| 5 Year Average Margin | 9.8% | 12.2% | 11.0% | 9.9% | 13.9% | 10.1% | ||
| Prior Fiscal Year | 8.7% | 11.9% | 11.0% | 10.2% | 13.3% | 9.6% | ||
| Latest Fiscal Year | 8.8% | 11.7% | 11.1% | 9.1% | 12.9% | 9.8% | ||
| Latest Twelve Months | 7.0% | 11.8% | 11.7% | 7.9% | 12.3% | 9.8% | ||
| Current Trading Multiples | ||||||||
| EV / LTM EBITDA | 42.2x | 21.0x | 47.5x | 16.6x | 21.4x | 21.1x | ||
| Price / LTM Sales | 4.8x | 3.4x | 7.4x | 2.1x | 3.7x | 3.6x | ||
| LTM P/E Ratio | 69.7x | 29.0x | 63.3x | 25.9x | 30.1x | 36.9x | ||
| Low | Mid | High | ||||||
| Benchmark LTM P/E Ratio | 25.9x | 30.1x | 69.7x | |||||
| Historical LTM P/E Ratio | 36.9x | 40.0x | 43.0x | |||||
| Selected P/E Multiple | 33.2x | 35.0x | 36.7x | |||||
| (x) LTM Net Income | 11,764 | 11,764 | 11,764 | |||||
| (=) Equity Value | 390,838 | 411,408 | 431,979 | |||||
| (/) Shares Outstanding | 607.7 | 607.7 | 607.7 | |||||
| Implied Value Range | 643.15 | 677.00 | 710.85 | |||||
| FX Rate: INR/INR | 1.0 | 1.0 | 1.0 | Market Price | ||||
| Implied Value Range (Trading Cur) | 643.15 | 677.00 | 710.85 | 711.50 | ||||
| Upside / (Downside) | -9.6% | -4.8% | -0.1% | |||||
| Equity Value | |||||||
| Benchmark Companies | |||||||
| (in millions) | COFORGE | MPHASIS | PERSISTENT | CIGNITITEC | LTIM | HEXT | |
| Value of Common Equity | 542,180 | 480,570 | 838,884 | 40,111 | 1,379,476 | 432,375 | |
| (/) Shares Outstanding | 66.9 | 190.1 | 148.7 | 27.3 | 296.3 | 607.7 | |
| Implied Stock Price | 8,107.60 | 2,528.20 | 5,641.45 | 1,469.25 | 4,655.90 | 711.50 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
| Implied Stock Price (Trading Cur) | 8,107.60 | 2,528.20 | 5,641.45 | 1,469.25 | 4,655.90 | 711.50 | |
| 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 | |