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Metrics | Range | Conclusion |
---|---|---|
Selected LTM EBIT Multiple | 9.9x - 10.9x | 10.4x |
Selected Fwd EBIT Multiple | 2.3x - 2.5x | 2.4x |
Fair Value | ₹42.73 - ₹49.97 | ₹46.35 |
Upside | -9.4% - 6.0% | -1.7% |
Benchmarks | Ticker | Full Ticker |
Aristo Bio-Tech and Lifescience Limited | ARISTO | NSEI:ARISTO |
Heranba Industries Limited | HERANBA | NSEI:HERANBA |
Dharmaj Crop Guard Limited | DHARMAJ | NSEI:DHARMAJ |
Ultramarine & Pigments Limited | 506685 | BSE:506685 |
Lords Chloro Alkali Limited | LORDSCHLO | NSEI:LORDSCHLO |
Crop Life Science Limited | CLSL | NSEI:CLSL |
- | - | - |
Select LTM EBIT Multiple | |||||||
Benchmark Companies | |||||||
ARISTO | HERANBA | DHARMAJ | 506685 | LORDSCHLO | CLSL | ||
NSEI:ARISTO | NSEI:HERANBA | NSEI:DHARMAJ | BSE:506685 | NSEI:LORDSCHLO | NSEI:CLSL | ||
Historical EBIT Growth | |||||||
5Y CAGR | 2.1% | -14.7% | 45.5% | 1.8% | NM- | NM- | |
3Y CAGR | 24.8% | -35.0% | 26.4% | 2.5% | NM- | 13.9% | |
Latest Twelve Months | 27.2% | 21.3% | -3.3% | 24.0% | 305.5% | 18.0% | |
Historical EBIT Profit Margin | |||||||
5 Year Average Margin | 2.8% | 11.4% | 8.3% | 16.7% | 8.8% | 5.4% | |
Prior Fiscal Year | 3.3% | 10.3% | 7.0% | 15.1% | 25.7% | 6.1% | |
Latest Fiscal Year | 2.9% | 4.5% | 8.8% | 12.9% | -3.7% | 4.7% | |
Latest Twelve Months | 2.9% | 6.1% | 6.3% | 13.6% | 2.5% | 5.2% | |
Current Trading Multiples | |||||||
EV / LTM Revenue | 0.34x | 0.94x | 1.01x | 2.11x | 1.84x | 0.60x | |
EV / LTM EBITDA | 9.6x | 11.6x | 14.6x | 12.2x | 30.1x | 8.6x | |
EV / LTM EBIT | 11.8x | 15.3x | 16.0x | 15.5x | 73.5x | 11.7x | |
Low | Mid | High | |||||
Benchmark EV / LTM EBIT | 11.8x | 15.5x | 73.5x | ||||
Historical EV / LTM EBIT | 7.7x | 7.7x | 7.7x | ||||
Selected EV / LTM EBIT | 9.9x | 10.4x | 10.9x | ||||
(x) LTM EBIT | 107 | 107 | 107 | ||||
(=) Implied Enterprise Value | 1,062 | 1,118 | 1,174 | ||||
(-) Non-shareholder Claims * | (447) | (447) | (447) | ||||
(=) Equity Value | 615 | 671 | 727 | ||||
(/) Shares Outstanding | 17.1 | 17.1 | 17.1 | ||||
Implied Value Range | 35.89 | 39.15 | 42.41 | ||||
FX Rate: INR/INR | 1.0 | 1.0 | 1.0 | Market Price | |||
Implied Value Range (Trading Cur) | 35.89 | 39.15 | 42.41 | 47.15 | |||
Upside / (Downside) | -23.9% | -17.0% | -10.1% |
Equity Waterfall | |||||||
Benchmark Companies | |||||||
(in millions) | ARISTO | HERANBA | DHARMAJ | 506685 | LORDSCHLO | CLSL | |
Enterprise Value | 1,105 | 12,417 | 8,647 | 13,421 | 4,666 | 1,255 | |
(+) Cash & Short Term Investments | 8 | 385 | 8 | 595 | 139 | 13 | |
(+) Investments & Other | 0 | 0 | 0 | 0 | 0 | 20 | |
(-) Debt | (203) | (2,369) | (1,367) | (915) | (1,050) | (441) | |
(-) Other Liabilities | 0 | 0 | 0 | 0 | 0 | (38) | |
(-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
(-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
Value of Common Equity | 910 | 10,434 | 7,287 | 13,101 | 3,755 | 808 | |
(/) Shares Outstanding | 6.8 | 40.0 | 33.8 | 29.2 | 25.2 | 17.1 | |
Implied Stock Price | 133.60 | 260.75 | 215.62 | 448.65 | 149.30 | 47.15 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 133.60 | 260.75 | 215.62 | 448.65 | 149.30 | 47.15 | |
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 |