Discounted Cash Flow (DCF) Analysis Levered

Anmol India Limited (ANMOL.NS)

254.15 ₹

-3.50 (-1.36%)

All numbers are in Millions, Currency in USD

Stock DCF: 1,152.05 | 254.15 | undervalue

Free Cash Flow

Year A/P	2018 Actual	2019 Actual	2020 Actual	2021 Actual	2022 Actual	2023 Projected	2024 Projected	2025 Projected	2026 Projected	2027 Projected
Revenue	2,985.65	5,470.46	5,519.15	6,912.62	10,593.90	14,900.79	20,958.61	29,479.21	41,463.80	58,320.66
Revenue (%)
Operating Cash Flow	310.60	-6.56	122.37	-55.94	-634.90	169.81	238.84	335.95	472.52	664.62
Operating Cash Flow (%)
Capital Expenditure	-	-7.45	-7.52	-9.42	-14.44	-20.30	-28.56	-40.17	-56.50	-79.47
Capital Expenditure (%)
Free Cash Flow	310.60	-14.02	114.85	-65.36	-649.34	149.50	210.28	295.77	416.02	585.15

Weighted Average Cost Of Capital

Share price	$ 254.15
Beta	0.953
Diluted Shares Outstanding	10.38
Cost of Debt
Tax Rate	25.35
After-tax Cost of Debt	2.69%
Risk-Free Rate
Market Risk Premium
Cost of Equity	8.199
Total Debt	1,787.80
Total Equity	2,638.80
Total Capital	4,426.60
Debt Weighting	40.39
Equity Weighting	59.61
Wacc

Build Up Free Cash Flow

Year A/P	2018 Actual	2019 Actual	2020 Actual	2021 Actual	2022 Actual	2023 Projected	2024 Projected	2025 Projected	2026 Projected	2027 Projected
Revenue	2,985.65	5,470.46	5,519.15	6,912.62	10,593.90	14,900.79	20,958.61	29,479.21	41,463.80	58,320.66
Operating Cash Flow	310.60	-6.56	122.37	-55.94	-634.90	169.81	238.84	335.95	472.52	664.62
Capital Expenditure	-	-7.45	-7.52	-9.42	-14.44	-20.30	-28.56	-40.17	-56.50	-79.47
Free Cash Flow	310.60	-14.02	114.85	-65.36	-649.34	149.50	210.28	295.77	416.02	585.15
WACC
PV LFCF						141.07	187.22	248.48	329.78	437.67
SUM PV LFCF										1,344.22

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%)	5.98
Free cash flow (t + 1)	596.85
Terminal Value	14,996.33
Present Value of Terminal Value	11,216.71

Intrinsic Value

Enterprise Value	12,560.93
Net Debt	599.40
Equity Value	11,961.53
Shares Outstanding	10.38
Equity Value Per Share	1,152.05