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| Metrics | Range | Conclusion |
|---|---|---|
| Selected LTM EBIT Multiple | 11.9x - 13.2x | 12.5x |
| Selected Fwd EBIT Multiple | 12.3x - 13.6x | 13.0x |
| Fair Value | ₹306.47 - ₹357.48 | ₹331.97 |
| Upside | -6.2% - 9.4% | 1.6% |
| Benchmarks | Ticker | Full Ticker |
| Saint-Gobain Sekurit India Limited | 515043 | BSE:515043 |
| Rane (Madras) Limited | 532661 | BSE:532661 |
| Fiem Industries Limited | 532768 | BSE:532768 |
| Shivam Autotech Limited | 532776 | BSE:532776 |
| Porwal Auto Components Limited | 532933 | BSE:532933 |
| Rane Engine Valve Limited | RANEENGINE | NSEI:RANEENGINE |
| - | - | - |
| Select LTM EBIT Multiple | |||||||
| Benchmark Companies | |||||||
| 515043 | 532661 | 532768 | 532776 | 532933 | RANEENGINE | ||
| BSE:515043 | BSE:532661 | BSE:532768 | BSE:532776 | BSE:532933 | NSEI:RANEENGINE | ||
| Historical EBIT Growth | |||||||
| 5Y CAGR | 12.8% | 4.1% | 13.9% | -21.2% | -4.1% | NM- | |
| 3Y CAGR | 40.1% | NM- | 39.5% | -29.4% | 57.7% | NM- | |
| Latest Twelve Months | -1.2% | -17.9% | 25.8% | 272.7% | -83.9% | 12.5% | |
| Historical EBIT Profit Margin | |||||||
| 5 Year Average Margin | 15.2% | 0.5% | 8.7% | 3.5% | 1.5% | -0.5% | |
| Prior Fiscal Year | 17.1% | 3.6% | 10.0% | 3.4% | 1.2% | 3.3% | |
| Latest Fiscal Year | 16.7% | 3.0% | 10.3% | 2.3% | 4.3% | 5.0% | |
| Latest Twelve Months | 16.9% | 3.1% | 10.5% | 4.2% | 0.5% | 5.7% | |
| Current Trading Multiples | |||||||
| EV / LTM Revenue | 4.25x | 0.91x | 1.52x | 1.52x | 0.43x | 0.60x | |
| EV / LTM EBITDA | 22.9x | 12.7x | 11.9x | 13.0x | 9.1x | 6.8x | |
| EV / LTM EBIT | 25.1x | 29.3x | 14.4x | 36.7x | 81.9x | 10.6x | |
| Low | Mid | High | |||||
| Benchmark EV / LTM EBIT | 14.4x | 29.3x | 81.9x | ||||
| Historical EV / LTM EBIT | -36.9x | -9.5x | 24.3x | ||||
| Selected EV / LTM EBIT | 11.9x | 12.5x | 13.2x | ||||
| (x) LTM EBIT | 322 | 322 | 322 | ||||
| (=) Implied Enterprise Value | 3,832 | 4,034 | 4,236 | ||||
| (-) Non-shareholder Claims * | (1,289) | (1,289) | (1,289) | ||||
| (=) Equity Value | 2,544 | 2,746 | 2,947 | ||||
| (/) Shares Outstanding | 7.2 | 7.2 | 7.2 | ||||
| Implied Value Range | 351.63 | 379.51 | 407.39 | ||||
| FX Rate: INR/INR | 1.0 | 1.0 | 1.0 | Market Price | |||
| Implied Value Range (Trading Cur) | 351.63 | 379.51 | 407.39 | 326.65 | |||
| Upside / (Downside) | 7.6% | 16.2% | 24.7% | ||||
| Equity Waterfall | |||||||
| Benchmark Companies | |||||||
| (in millions) | 515043 | 532661 | 532768 | 532776 | 532933 | RANEENGINE | |
| Enterprise Value | 8,533 | 19,299 | 35,336 | 7,212 | 556 | 3,652 | |
| (+) Cash & Short Term Investments | 1,237 | 225 | 2,176 | 7 | 1 | 129 | |
| (+) Investments & Other | 0 | 0 | 0 | 0 | 113 | 0 | |
| (-) Debt | (3) | (7,702) | (226) | (3,686) | (26) | (1,418) | |
| (-) 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 | 9,767 | 11,822 | 37,286 | 3,532 | 643 | 2,363 | |
| (/) Shares Outstanding | 91.1 | 16.3 | 26.3 | 122.2 | 15.1 | 7.2 | |
| Implied Stock Price | 107.20 | 726.85 | 1,416.65 | 28.90 | 42.61 | 326.65 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
| Implied Stock Price (Trading Cur) | 107.20 | 726.85 | 1,416.65 | 28.90 | 42.61 | 326.65 | |
| 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 | |