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
Stock DCF: -37.56 | 223.05 | overvalue

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 3,975.754,041.653,573.803,204.794,219.174,339.514,463.284,590.584,721.514,856.17
Revenue (%)
Operating Cash Flow 771.90588.29358.54264.44280.27511.17525.75540.75556.17572.03
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 264.41146.7297.58-259.38-418.27-43.36-44.59-45.87-47.17-48.52

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 3,975.754,041.653,573.803,204.794,219.174,339.514,463.284,590.584,721.514,856.17
Operating Cash Flow 771.90588.29358.54264.44280.27511.17525.75540.75556.17572.03
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 264.41146.7297.58-259.38-418.27-43.36-44.59-45.87-47.17-48.52
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