Name- Shivam Kumar

Roll No- JN23PGA050

Subject- Advance Corporate Finance Group 1
Company name- Alok Industries Ltd
r
0
nce Group 1
ries Ltd
 B C D E
1
Profit & Loss Statement of Alok
2
Industries Ltd
3 PARTICULARS 2023 2022
4 Revenue From Operations 6,748.32 7,150.91
5 Other Income 37.51 40.33
6 Total Revenue From Operations 6,785.83 7,191.24
7 COGS (excl. depr.) 5005.76 4817.57
8 Gross Profit 1,780.07 2373.67
9 Employee Expenses 430.94 394.92
10 Other operating expenses 1380.06 1367.14
11 EBITDA -30.93 611.61
12 Depreciation 356.3 333
13 EBIT -387.23 278.61
14 Interest expense 487.66 462.79
15 Profit before Tax(Loss) -874.89 -184.18
16
17
18 Other Data 2023 2022
19 Equity dividends 0 0
20 Addition to other equity
21 Tax rate 0 0
22 Equity shares (no.) In crores 496.53 496.53
23 CMP per share 11.59 25.35
24
25
26 Cost of goods sold 2023 2022
27 Cost of materials consumed 4764.62 5077.33
28 Purchases 14.28
29 Changes in inventory of finished goods 226.86 -259.76
30 5005.76 4817.57
 F G H I J
1

2
BALANCE SHEET OF ALOK INDUSTRIES
3 Assets 2023 2022
4 Cash 0.79 5.19
5 Bank balances other than cash and cash equivalents 39.27 35.20
6 Other Current Assets 349.93 344.36
7 Accounts receivable 293.64 462.25
8 Inventories 939.05 1182.75
9 Other Financial Assets 11.91 73.53
10 Total CA 1634.59 2103.28
11 Net NCA 5525.51 5831.26
12 Total assets 7160.10 7934.54
13
14 Liabilities and Equity
15 Accounts payable 1,492.11 1,197.18
16 Outstanding expenses (Other current Liabilities) 25.64 27.12
17 Notes payable (Other Financial Liabilities) 150.38 88.9
18 Short Term Borrowings 874.31 568.47
19 Provisions 6.34 5.40
20 Lease Liabilities 4.25
21 Total CL 2553.03 1887.07
22
23 Long-term debt 21,809.70 22,408.34
24 Lease Liabilities 7.13
25 Long Term provisons 41.43 42.15
26 Others Financial Liabilities - Long-term 69.53 47.03
27 Total Non Current Liabilities 21,927.79 22,497.52
28
29 Total liabilities 24480.82 24384.59
30 Equity share capital 496.53 496.53
 VALUATION OF ALOK IND

S.No. Peers CMP (Rs.) P/E Mar Cap (Rs.Cr. )

1 Orbit Exports 151.4 12.03 408.09
2 VTM 66.82 15.28 268.8
3 BSL 169.85 12.67 176.2
4 Weizmann 88.2 16.83 138.86
5 Sanrhea Tech. 117.8 15.34 58.9
6 Anjani Synth. 36.85 14.53 54.36
7 Arex Industries 136.5 20.09 54.05
8 Gini Silk Mills 75.9 12.48 42.43
9 Valson Industrie 30.08 22.59 23.04
10 Jattashankar Ind 21.32 22.28 9.36

FUV Alok Industries 27.15 13447.65

Equity Multiples
S.No. Peers CCA (Sales) CCA(PAT) CCA(EPS)
1 Orbit Exports 4290.22 -4183.51 -22.76
2 VTM 1894.53 -3526.91 -28.59
3 BSL 1511.78 -12635.86 -26.18
4 Weizmann 3799.18 -9925.87 -31.72
5 Sanrhea Tech. 9742.03 -28481.83 -28.68
6 Anjani Synth. 758.93 -9147.86 -27.13
7 Arex Industries 15785.27 -47112.29 -37.54
8 Gini Silk Mills 9557.29 -20726.06 -23.34
9 Valson Industrie 1302.20 -27379.88 -42.29
10 Jattashankar Ind 7876.61 -47129.38 -41.53
FUV Alok Industries 5651.80 -21024.94 -30.98
Super avergae -5614.05520993306
 VALUATION OF ALOK INDUSTRIES (using Comparable Company Analysis)

EPS (Rs.) Sales (Rs.Cr.) EV / EBITDA Net Profit (Rs.Cr.) B.V. (Rs.) PAT (Rs.Cr.)
12.44 197.52 7.07 89.3 33.91 33.6
4.37 197.41 8.07 63.29 17.59 17.59
12.13 628.84 8.52 103.77 13.91 12.48
5.2 129.94 9.52 43.21 8.25 8.25
7.68 67.68 9.19 35.94 3.84 3.84
2.54 271.77 8.62 54.58 3.74 3.74
6.8 48.4 7.24 76.09 2.69 2.69
6.08 44.45 8.41 79.57 3.4 3.4
1.33 129.29 8.07 34.59 1.02 1.02
0.96 15.15 10.96 36.81 0.42 0.42

-1.87 5597.12 -9890.16 -38.92 -928.44 -928.44

Enterprise Value Multiples

CCA(BV) CCA (Assets) EBITDA EBIT
-4145.26 3544.69 -26.65 -3205.14
-3526.91 1670.13 -30.42 -3889.81
-11336.85 2195.55 -32.12 -3916.92
-9925.87 6488.65 -35.89 -4022.68
-28481.83 26176.26 -34.65 -3739.42
-9147.86 1328.72 -32.50 -3758.31
-47112.29 19365.54 -27.29 -4567.96
-20726.06 8912.00 -31.71 -3736.59
-27379.88 3988.33 -30.42 -6206.03
-47129.38 8580.75 -41.32 -5349.97
-20891.22 8225.06 -32.30 -4239.28
93306 -2135.78975943731
EV (Rs.Cr.) Assets (Rs. Cr.) EBIT(Rs. Cr.)
429.33 315.1 46
274.34 295.16 24.22
552.39 570.72 48.43
146.19 100.28 12.48
64.79 33.2 5.95
103.75 204.6 9.48
67.44 52 5.07
51.14 62.83 4.7
37.77 55.64 2.09
8.88 18.33 0.57

37285.92 7377.35 -343.41