Perpetuity Growth Method - Value per Share

EBITDA Multiple Method - Value per Share

Free Cash Flow at Year 5 9,61,571

Terminal EBITDA at Year 5 11,94,717

WACC 11.8% WACC

11.8%
Perpetuity Growth Rate 3.5%
Exit Enterprise Value / EBITDA 10.6x

Perpetuity Value at End of Year 5 119,90,677

Terminal Value at End of Year 5
127,17,947

Present Value of Perpetuity (@ 11.8% WACC)

68,93,287 Present Value of Terminal Value (@ 11.8% WACC)
73,11,386
(+) Present Value of Free Cash Flows (@ 11.8% WACC)
31,68,498 (+) Present Value of Free Cash Flows (@ 11.8%
WACC) 31,68,498
(=) Current Enterprise Value 100,61,785
(=) Current Enterprise Value 104,79,883.5

Short Term Debt 7,45,880

Short Term Debt 7,45,880
(+) Long Term Debt 14,41,750
(+) Long Term Debt 14,41,750
(-) Cash and Marketable Securities 6,18,580
(-) Cash and Marketable Securities
6,18,580
(-) Current Net Debt 15,69,050
(-) Current Net Debt 15,69,050
(-) Current Preferred and Minority Interest
35,390 (-) Current Preferred and Minority Interest
35,390 53574328320
(=) Equity Value 84,57,345
(=) Equity Value 88,75,444

Shares outstanding 6,335

Shares outstanding 6,335
Estimated Value per Share (INR) 1,335.09
Estimated Value per Share (INR)
1,401.09
Current Price (INR) 1,126.55
Current Price (INR) 1,126.55
Estimated Upside 19%
Estimated Upside 24%

WACC 11.8% 7136301.109

 Perpetuity Growth Method EBITDA
Multiple Method
Current Price (INR) 1126.55
Current Price (INR) 1126.55

DCF Estimated Value per Share (INR) 1335.09

DCF Estimated Value per Share (INR) 1401.09
2736.19
DCF Estimated Upside 19% DCF
Estimated Upside 24% 1368.093393

21.4%
Perpetuity Growth
Terminal EBITDA Multiple
1335.09 2.5% 3.0% 3.5% 4.0% 4.5% 1401.09 7.6x
9.1x 10.6x 12.1x 13.6x
Discount rate WACC 10.8% 1386.34 1464.42 1553.20 1655.03
1773.02 Discount rate WACC 10.8% 1126.24 1296.29
1466.34 1636.40 1806.45
11.3% 1292.46 1360.44 1437.14 1524.35 1624.38
11.3% 1100.71 1267.01 1433.30 1599.60 1765.89

11.8% 1208.70 1268.31 1335.09 1410.44 1496.11

11.8% 1075.82 1238.46 1401.09 1563.73 1726.37

12.3% 1133.52 1186.11 1244.67 1310.28 1384.31

12.3% 1051.55 1210.62 1369.70 1528.77 1687.85

12.8% 1065.67 1112.32 1163.99 1221.53 1286.00

12.8% 1027.88 1183.48 1339.09 1494.69 1650.30

0.19 2.5% 3.0% 3.5% 4.0% 4.5% 0.24 7.6x 9.1x 10.6x
12.1x 13.6x
10.8% 23% 30% 38% 47% 57% 10.8% 0% 15% 30%
45% 60%
11.3% 15% 21% 28% 35% 44% 11.3% -2% 12% 27%
42% 57%
11.8% 7% 13% 19% 25% 33% 11.8% -5% 10% 24%
39% 53%
12.3% 1% 5% 10% 16% 23% 12.3% -7% 7% 22%
36% 50%
12.8% -5% -1% 3% 8% 14% 12.8% -9% 5% 19%
33% 46%