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 | 9.5x - 10.5x | 10.0x |
| Selected Fwd EBIT Multiple | 8.0x - 8.9x | 8.5x |
| Fair Value | ₹619.61 - ₹682.32 | ₹650.97 |
| Upside | -19.9% - -11.7% | -15.8% |
| Benchmarks | Ticker | Full Ticker |
| Shyam Metalics and Energy Limited | 543299 | BSE:543299 |
| Vardhman Special Steels Limited | 534392 | BSE:534392 |
| JSW Steel Limited | 500228 | BSE:500228 |
| Sunflag Iron and Steel Company Limited | 500404 | BSE:500404 |
| VISA Steel Limited | 532721 | BSE:532721 |
| Kalyani Steels Limited | KSL | NSEI:KSL |
| - | - | - |
| Select LTM EBIT Multiple | |||||||
| Benchmark Companies | |||||||
| 543299 | 534392 | 500228 | 500404 | 532721 | KSL | ||
| BSE:543299 | BSE:534392 | BSE:500228 | BSE:500404 | BSE:532721 | NSEI:KSL | ||
| Historical EBIT Growth | |||||||
| 5Y CAGR | NM- | 24.5% | 5.8% | 6.2% | NM- | 12.3% | |
| 3Y CAGR | -4.5% | 17.7% | 10.0% | 13.4% | NM- | 12.3% | |
| Latest Twelve Months | 23.2% | 44.9% | -41.7% | -0.3% | 71.7% | -10.6% | |
| Historical EBIT Profit Margin | |||||||
| 5 Year Average Margin | 12.9% | 8.3% | 14.4% | 9.6% | -11.0% | 15.2% | |
| Prior Fiscal Year | 8.8% | 8.4% | 7.9% | 10.8% | -9.7% | 12.1% | |
| Latest Fiscal Year | 7.0% | 8.3% | 11.7% | 8.0% | -6.5% | 15.8% | |
| Latest Twelve Months | 8.1% | 9.0% | 8.3% | 8.0% | -2.8% | 14.7% | |
| Current Trading Multiples | |||||||
| EV / LTM Revenue | 1.68x | 1.02x | 2.04x | 1.42x | 3.13x | 1.75x | |
| EV / LTM EBITDA | 12.4x | 9.4x | 15.4x | 12.7x | 153.7x | 9.5x | |
| EV / LTM EBIT | 20.8x | 11.4x | 24.6x | 17.8x | -111.7x | 11.9x | |
| Low | Mid | High | |||||
| Benchmark EV / LTM EBIT | -111.7x | 17.8x | 24.6x | ||||
| Historical EV / LTM EBIT | 1.5x | 4.4x | 10.7x | ||||
| Selected EV / LTM EBIT | 9.5x | 10.0x | 10.5x | ||||
| (x) LTM EBIT | 2,857 | 2,857 | 2,857 | ||||
| (=) Implied Enterprise Value | 27,163 | 28,593 | 30,023 | ||||
| (-) Non-shareholder Claims * | 1,043 | 1,043 | 1,043 | ||||
| (=) Equity Value | 28,206 | 29,636 | 31,066 | ||||
| (/) Shares Outstanding | 43.8 | 43.8 | 43.8 | ||||
| Implied Value Range | 644.58 | 677.25 | 709.92 | ||||
| FX Rate: INR/INR | 1.0 | 1.0 | 1.0 | Market Price | |||
| Implied Value Range (Trading Cur) | 644.58 | 677.25 | 709.92 | 773.15 | |||
| Upside / (Downside) | -16.6% | -12.4% | -8.2% | ||||
| Equity Waterfall | |||||||
| Benchmark Companies | |||||||
| (in millions) | 543299 | 534392 | 500228 | 500404 | 532721 | KSL | |
| Enterprise Value | 236,596 | 17,588 | 3,446,910 | 48,512 | 17,388 | 32,790 | |
| (+) Cash & Short Term Investments | 12,295 | 436 | 92,920 | 1,126 | 257 | 6,641 | |
| (+) Investments & Other | 0 | 0 | 0 | 0 | 0 | 0 | |
| (-) Debt | (10,861) | (1,417) | (952,630) | (6,034) | (13,998) | (5,598) | |
| (-) 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 | 238,030 | 16,608 | 2,587,200 | 43,604 | 3,647 | 33,833 | |
| (/) Shares Outstanding | 279.1 | 81.7 | 2,436.5 | 180.2 | 115.8 | 43.8 | |
| Implied Stock Price | 852.75 | 203.20 | 1,061.85 | 241.95 | 31.50 | 773.15 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
| Implied Stock Price (Trading Cur) | 852.75 | 203.20 | 1,061.85 | 241.95 | 31.50 | 773.15 | |
| 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 | |