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Metrics | Range | Conclusion |
---|---|---|
Selected LTM EBIT Multiple | 29.4x - 32.5x | 30.9x |
Selected Fwd EBIT Multiple | 25.3x - 28.0x | 26.6x |
Fair Value | ₹115.71 - ₹127.05 | ₹121.38 |
Upside | -5.4% - 3.8% | -0.8% |
Benchmarks | Ticker | Full Ticker |
Vipul Organics Limited | 530627 | BSE:530627 |
Asahi Songwon Colors Limited | ASAHISONG | NSEI:ASAHISONG |
AksharChem (India) Limited | AKSHARCHEM | NSEI:AKSHARCHEM |
Heubach Colorants India Limited | HEUBACHIND | NSEI:HEUBACHIND |
Ultramarine & Pigments Limited | 506685 | BSE:506685 |
Ducol Organics And Colours Limited | DUCOL | NSEI:DUCOL |
- | - | - |
Select LTM EBIT Multiple | |||||||
Benchmark Companies | |||||||
530627 | ASAHISONG | AKSHARCHEM | HEUBACHIND | 506685 | DUCOL | ||
BSE:530627 | NSEI:ASAHISONG | NSEI:AKSHARCHEM | NSEI:HEUBACHIND | BSE:506685 | NSEI:DUCOL | ||
Historical EBIT Growth | |||||||
5Y CAGR | -0.2% | -42.4% | NM- | 23.6% | 1.8% | NM- | |
3Y CAGR | -17.4% | -63.3% | NM- | -4.9% | 2.5% | -11.3% | |
Latest Twelve Months | 23.6% | 309.0% | 147.1% | -9.8% | 24.0% | -17.0% | |
Historical EBIT Profit Margin | |||||||
5 Year Average Margin | 6.1% | 5.6% | 3.0% | 5.9% | 16.7% | 7.6% | |
Prior Fiscal Year | 4.4% | -1.9% | 0.8% | 5.4% | 15.1% | 11.7% | |
Latest Fiscal Year | 4.0% | 0.5% | -4.1% | 6.3% | 12.9% | 5.6% | |
Latest Twelve Months | 5.1% | 5.5% | 1.5% | 6.5% | 13.6% | 7.4% | |
Current Trading Multiples | |||||||
EV / LTM Revenue | 1.29x | 1.14x | 0.70x | 1.57x | 2.23x | 2.20x | |
EV / LTM EBITDA | 16.7x | 13.2x | 12.2x | 17.4x | 12.8x | 20.6x | |
EV / LTM EBIT | 25.3x | 20.9x | 46.9x | 24.1x | 16.4x | 29.8x | |
Low | Mid | High | |||||
Benchmark EV / LTM EBIT | 16.4x | 24.1x | 46.9x | ||||
Historical EV / LTM EBIT | 27.1x | 27.1x | 27.1x | ||||
Selected EV / LTM EBIT | 29.4x | 30.9x | 32.5x | ||||
(x) LTM EBIT | 56 | 56 | 56 | ||||
(=) Implied Enterprise Value | 1,657 | 1,744 | 1,831 | ||||
(-) Non-shareholder Claims * | 117 | 117 | 117 | ||||
(=) Equity Value | 1,773 | 1,861 | 1,948 | ||||
(/) Shares Outstanding | 14.5 | 14.5 | 14.5 | ||||
Implied Value Range | 121.97 | 127.97 | 133.97 | ||||
FX Rate: INR/INR | 1.0 | 1.0 | 1.0 | Market Price | |||
Implied Value Range (Trading Cur) | 121.97 | 127.97 | 133.97 | 122.35 | |||
Upside / (Downside) | -0.3% | 4.6% | 9.5% |
Equity Waterfall | |||||||
Benchmark Companies | |||||||
(in millions) | 530627 | ASAHISONG | AKSHARCHEM | HEUBACHIND | 506685 | DUCOL | |
Enterprise Value | 2,043 | 5,853 | 2,372 | 12,679 | 14,181 | 1,662 | |
(+) Cash & Short Term Investments | 23 | 54 | 32 | 1,087 | 595 | 270 | |
(+) Investments & Other | 0 | 0 | 0 | 0 | 0 | 17 | |
(-) Debt | (319) | (1,975) | (682) | (261) | (915) | (170) | |
(-) 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 | 1,747 | 3,932 | 1,722 | 13,505 | 13,861 | 1,779 | |
(/) Shares Outstanding | 13.3 | 11.8 | 8.0 | 23.1 | 29.2 | 14.5 | |
Implied Stock Price | 131.25 | 333.60 | 214.41 | 585.10 | 474.70 | 122.35 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 131.25 | 333.60 | 214.41 | 585.10 | 474.70 | 122.35 | |
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 |