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 |
|---|---|---|
| Discount Rate | 10.0% - 9.0% | 9.5% |
| Terminal EBITDA Multiple | 13.5x - 15.5x | 14.5x |
| Fair Value | ₹54.54 - ₹63.13 | ₹58.76 |
| Upside | 12.9% - 30.7% | 21.6% |
| Select Revenue and EBITDA Forecast | ||||||
| (INR in millions) | Input Projections | |||||
| Fiscal Years Ending | Mar-24 | Mar-25 | Mar-26 | Mar-27 | Mar-28 | Mar-29 |
| Revenue | 17,019 | 19,146 | 20,582 | 21,303 | 21,729 | 22,163 |
| % Growth | 19.7% | 12.5% | 7.5% | 3.5% | 2.0% | 2.0% |
| EBITDA | 1,545 | 2,079 | 2,440 | 2,526 | 2,576 | 2,628 |
| % of Revenue | 9.1% | 10.9% | 11.9% | 11.9% | 11.9% | 11.9% |
| Calculation of Free Cash Flow | ||||||
| Projected Unlevered Cash Flow | ||||||
| (INR in millions) | Mar-25 | Mar-26 | Mar-27 | Mar-28 | Mar-29 | |
| EBITDA | 2,079 | 2,440 | 2,526 | 2,576 | 2,628 | |
| Other Income / (Exp) | 0 | 0 | 0 | 0 | 0 | |
| D&A | (280) | (301) | (311) | (317) | (324) | |
| EBIT | 1,799 | 2,140 | 2,215 | 2,259 | 2,304 | |
| Pro forma Taxes | (342) | (407) | (421) | (429) | (438) | |
| NOPAT | 1,107 | 1,457 | 1,733 | 1,794 | 1,830 | 1,866 |
| Capital Expenditures | (714) | (661) | (711) | (736) | (750) | (765) |
| NWC Investment | (333) | (253) | (171) | (86) | (51) | (52) |
| (+) D&A | 179 | 280 | 301 | 311 | 317 | 324 |
| Free Cash Flow | 239 | 823 | 1,152 | 1,284 | 1,346 | 1,373 |
| % Growth | 245% | 40% | 11% | 5% | 2% | |