Discounted Cash Flow (DCF) Analysis Levered
PPAP Automotive Limited (PPAP.NS)
223.05 ₹
-2.15 (-0.95%)
All numbers are in Millions, Currency in USD
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 | 3,975.75 | 4,041.65 | 3,573.80 | 3,204.79 | 4,219.17 | 4,339.51 | 4,463.28 | 4,590.58 | 4,721.51 | 4,856.17 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 771.90 | 588.29 | 358.54 | 264.44 | 280.27 | 511.17 | 525.75 | 540.75 | 556.17 | 572.03 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -507.48 | -441.57 | -260.96 | -523.82 | -698.54 | -554.53 | -570.35 | -586.61 | -603.34 | -620.55 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 264.41 | 146.72 | 97.58 | -259.38 | -418.27 | -43.36 | -44.59 | -45.87 | -47.17 | -48.52 |
Weighted Average Cost Of Capital
| Share price | $ 223.05 |
|---|---|
| Beta | 0.233 |
| Diluted Shares Outstanding | 14 |
| Cost of Debt | |
| Tax Rate | 709.74 |
| After-tax Cost of Debt | -36.16% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 4.632 |
| Total Debt | 1,096.96 |
| Total Equity | 3,122.70 |
| Total Capital | 4,219.66 |
| Debt Weighting | 26.00 |
| Equity Weighting | 74.00 |
| 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 | 3,975.75 | 4,041.65 | 3,573.80 | 3,204.79 | 4,219.17 | 4,339.51 | 4,463.28 | 4,590.58 | 4,721.51 | 4,856.17 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 771.90 | 588.29 | 358.54 | 264.44 | 280.27 | 511.17 | 525.75 | 540.75 | 556.17 | 572.03 |
| Capital Expenditure | -507.48 | -441.57 | -260.96 | -523.82 | -698.54 | -554.53 | -570.35 | -586.61 | -603.34 | -620.55 |
| Free Cash Flow | 264.41 | 146.72 | 97.58 | -259.38 | -418.27 | -43.36 | -44.59 | -45.87 | -47.17 | -48.52 |
| WACC | ||||||||||
| PV LFCF | -46.11 | -50.44 | -55.17 | -60.34 | -66.01 | |||||
| SUM PV LFCF | -278.06 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | -5.97 |
| Free cash flow (t + 1) | -49.49 |
| Terminal Value | 620.95 |
| Present Value of Terminal Value | 844.74 |
Intrinsic Value
| Enterprise Value | 566.68 |
|---|---|
| Net Debt | 1,092.56 |
| Equity Value | -525.88 |
| Shares Outstanding | 14 |
| Equity Value Per Share | -37.56 |