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 EBIT Multiple | -13.2x - -14.6x | -13.9x |
| Selected Fwd EBIT Multiple | 59.6x - 65.9x | 62.7x |
| Fair Value | ₹416.98 - ₹456.86 | ₹436.92 |
| Upside | -15.2% - -7.1% | -11.2% |
| Benchmarks | Ticker | Full Ticker |
| High Energy Batteries (India) Limited | 504176 | BSE:504176 |
| Taneja Aerospace and Aviation Limited | 522229 | BSE:522229 |
| Paras Defence and Space Technologies Limited | PARAS | NSEI:PARAS |
| Mazagon Dock Shipbuilders Limited | MAZDOCK | NSEI:MAZDOCK |
| Bharat Electronics Limited | BEL | NSEI:BEL |
| ideaForge Technology Limited | IDEAFORGE | NSEI:IDEAFORGE |
| - | - | - |
| Select LTM EBIT Multiple | |||||||
| Benchmark Companies | |||||||
| 504176 | 522229 | PARAS | MAZDOCK | BEL | IDEAFORGE | ||
| BSE:504176 | BSE:522229 | NSEI:PARAS | NSEI:MAZDOCK | NSEI:BEL | NSEI:IDEAFORGE | ||
| Historical EBIT Growth | |||||||
| 5Y CAGR | 10.1% | 18.2% | 21.2% | 58.5% | 21.5% | NM- | |
| 3Y CAGR | -6.6% | 19.1% | 25.0% | 72.7% | 29.4% | NM- | |
| Latest Twelve Months | -4.1% | 52.6% | 58.0% | -10.6% | 36.1% | -1827.8% | |
| Historical EBIT Profit Margin | |||||||
| 5 Year Average Margin | 33.1% | 44.1% | 21.4% | 10.0% | 21.7% | -1.3% | |
| Prior Fiscal Year | 32.9% | 51.0% | 15.0% | 14.1% | 23.2% | 10.9% | |
| Latest Fiscal Year | 28.6% | 55.0% | 22.8% | 17.0% | 26.8% | -50.9% | |
| Latest Twelve Months | 26.6% | 57.3% | 21.3% | 13.7% | 27.7% | -121.6% | |
| Current Trading Multiples | |||||||
| EV / LTM Revenue | 7.55x | 28.40x | 7.12x | 7.93x | 11.04x | 22.68x | |
| EV / LTM EBITDA | 27.3x | 43.2x | 28.0x | 53.6x | 37.1x | -19.8x | |
| EV / LTM EBIT | 28.4x | 49.6x | 33.4x | 57.8x | 39.8x | -18.6x | |
| Low | Mid | High | |||||
| Benchmark EV / LTM EBIT | 28.4x | 39.8x | 57.8x | ||||
| Historical EV / LTM EBIT | -28.5x | 43.7x | 115.9x | ||||
| Selected EV / LTM EBIT | -13.2x | -13.9x | -14.6x | ||||
| (x) LTM EBIT | (1,068) | (1,068) | (1,068) | ||||
| (=) Implied Enterprise Value | 14,081 | 14,822 | 15,563 | ||||
| (-) Non-shareholder Claims * | 1,651 | 1,651 | 1,651 | ||||
| (=) Equity Value | 15,732 | 16,473 | 17,214 | ||||
| (/) Shares Outstanding | 43.2 | 43.2 | 43.2 | ||||
| Implied Value Range | 364.03 | 381.18 | 398.33 | ||||
| FX Rate: INR/INR | 1.0 | 1.0 | 1.0 | Market Price | |||
| Implied Value Range (Trading Cur) | 364.03 | 381.18 | 398.33 | 491.95 | |||
| Upside / (Downside) | -26.0% | -22.5% | -19.0% | ||||
| Equity Waterfall | |||||||
| Benchmark Companies | |||||||
| (in millions) | 504176 | 522229 | PARAS | MAZDOCK | BEL | IDEAFORGE | |
| Enterprise Value | 5,925 | 10,455 | 26,227 | 950,301 | 2,624,765 | 19,609 | |
| (+) Cash & Short Term Investments | 13 | 89 | 1,108 | 161,496 | 95,451 | 1,816 | |
| (+) Investments & Other | 0 | 0 | 0 | 0 | 0 | 0 | |
| (-) Debt | (112) | (2) | (240) | (203) | (612) | (165) | |
| (-) 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 | 5,826 | 10,542 | 27,095 | 1,111,594 | 2,719,603 | 21,260 | |
| (/) Shares Outstanding | 9.0 | 25.5 | 40.3 | 403.4 | 7,309.8 | 43.2 | |
| Implied Stock Price | 649.90 | 413.40 | 672.45 | 2,755.70 | 372.05 | 491.95 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
| Implied Stock Price (Trading Cur) | 649.90 | 413.40 | 672.45 | 2,755.70 | 372.05 | 491.95 | |
| 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 | |