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Metrics | Range | Conclusion |
---|---|---|
Selected LTM EBITDA Multiple | 37.4x - 41.3x | 39.4x |
Selected Fwd EBITDA Multiple | 21.2x - 23.4x | 22.3x |
Fair Value | ₹965 - ₹1,054 | ₹1,010 |
Upside | -42.5% - -37.2% | -39.9% |
Benchmarks | Ticker | Full Ticker |
Add-Shop E-Retail Limited | 541865 | BSE:541865 |
Avax Apparels and Ornaments Limited | 544337 | BSE:544337 |
Khadim India Limited | KHADIM | NSEI:KHADIM |
Mehai Technology Limited | 540730 | BSE:540730 |
Manoj Vaibhav Gems 'N' Jewellers Limited | MVGJL | NSEI:MVGJL |
CarTrade Tech Limited | 543333 | BSE:543333 |
- | - | - |
Select LTM EBITDA Multiple | |||||||
Benchmark Companies | |||||||
541865 | 544337 | KHADIM | 540730 | MVGJL | 543333 | ||
BSE:541865 | BSE:544337 | NSEI:KHADIM | BSE:540730 | NSEI:MVGJL | BSE:543333 | ||
Historical EBITDA Growth | |||||||
5Y CAGR | 34.0% | NM- | -5.2% | 46.3% | 12.3% | 20.3% | |
3Y CAGR | -12.8% | NM- | NM- | 93.4% | 23.4% | 26.0% | |
Latest Twelve Months | -118.8% | NM | -10.7% | 502.6% | 7.8% | 146.9% | |
Historical EBITDA Profit Margin | |||||||
5 Year Average Margin | 10.9% | 4.5% | 4.5% | 9.1% | 6.7% | 0.0% | |
Prior Fiscal Year | 14.5% | 6.7% | 7.3% | 11.8% | 7.0% | 4.8% | |
Latest Fiscal Year | 3.7% | 9.5% | 7.0% | 14.3% | 6.9% | 11.6% | |
Latest Twelve Months | -2.6% | NA | 6.3% | 16.3% | 6.9% | 17.5% | |
Current Trading Multiples | |||||||
EV / LTM Revenue | 0.23x | NA | 1.37x | 6.96x | 0.59x | 11.94x | |
EV / LTM EBITDA | -8.8x | NA | 21.7x | 42.6x | 8.5x | 68.4x | |
EV / LTM EBIT | -7.9x | NA | 31.6x | 44.0x | 8.8x | 81.7x | |
Low | Mid | High | |||||
Benchmark EV / LTM EBITDA | -8.8x | 15.1x | 42.6x | ||||
Historical EV / LTM EBITDA | -47.2x | -17.9x | 59.4x | ||||
Selected EV / LTM EBITDA | 37.4x | 39.4x | 41.3x | ||||
(x) LTM EBITDA | 1,077 | 1,077 | 1,077 | ||||
(=) Implied Enterprise Value | 40,280 | 42,400 | 44,520 | ||||
(-) Non-shareholder Claims * | 5,507 | 5,507 | 5,507 | ||||
(=) Equity Value | 45,787 | 47,907 | 50,027 | ||||
(/) Shares Outstanding | 47.4 | 47.4 | 47.4 | ||||
Implied Value Range | 965.24 | 1,009.93 | 1,054.62 | ||||
FX Rate: INR/INR | 1.0 | 1.0 | 1.0 | Market Price | |||
Implied Value Range (Trading Cur) | 965.24 | 1,009.93 | 1,054.62 | 1,679.35 | |||
Upside / (Downside) | -42.5% | -39.9% | -37.2% |
Equity Waterfall | |||||||
Benchmark Companies | |||||||
(in millions) | 541865 | 544337 | KHADIM | 540730 | MVGJL | 543333 | |
Enterprise Value | 404 | 125 | 8,549 | 5,051 | 13,265 | 74,155 | |
(+) Cash & Short Term Investments | 7 | 0 | 245 | 49 | 1,591 | 6,734 | |
(+) Investments & Other | 0 | 0 | 0 | 0 | 0 | 0 | |
(-) Debt | (123) | (7) | (3,225) | (235) | (4,323) | (1,227) | |
(-) 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 | 288 | 118 | 5,568 | 4,866 | 10,533 | 79,662 | |
(/) Shares Outstanding | 28.0 | 1.0 | 18.4 | 301.9 | 48.8 | 47.4 | |
Implied Stock Price | 10.29 | 113.15 | 302.95 | 16.12 | 215.63 | 1,679.35 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 10.29 | 113.15 | 302.95 | 16.12 | 215.63 | 1,679.35 | |
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 |