Discounted Cash Flow (DCF) Analysis Levered

Remsons Industries Limited (REMSONSIND.NS)

236.55 ₹

-6.70 (-2.75%)

All numbers are in Millions, Currency in USD

Stock DCF: 0.49 | 236.55 | 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	1,283.60	1,479.75	1,577.87	2,247.89	2,864.51	3,521.97	4,330.32	5,324.20	6,546.20	8,048.66
Revenue (%)
Operating Cash Flow	43.19	80.05	51.94	-10.19	143.47	117.08	143.95	176.99	217.61	267.56
Operating Cash Flow (%)
Capital Expenditure	-31.72	-38.42	-27.02	-81.54	-95.70	-96.84	-119.07	-146.39	-179.99	-221.30
Capital Expenditure (%)
Free Cash Flow	11.47	41.63	24.92	-91.73	47.77	20.24	24.89	30.60	37.62	46.25

Weighted Average Cost Of Capital

Share price	$ 236.55
Beta	0.995
Diluted Shares Outstanding	5.71
Cost of Debt
Tax Rate	26.97
After-tax Cost of Debt	5.80%
Risk-Free Rate
Market Risk Premium
Cost of Equity	8.227
Total Debt	809.84
Total Equity	1,350.90
Total Capital	2,160.74
Debt Weighting	37.48
Equity Weighting	62.52
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	1,283.60	1,479.75	1,577.87	2,247.89	2,864.51	3,521.97	4,330.32	5,324.20	6,546.20	8,048.66
Operating Cash Flow	43.19	80.05	51.94	-10.19	143.47	117.08	143.95	176.99	217.61	267.56
Capital Expenditure	-31.72	-38.42	-27.02	-81.54	-95.70	-96.84	-119.07	-146.39	-179.99	-221.30
Free Cash Flow	11.47	41.63	24.92	-91.73	47.77	20.24	24.89	30.60	37.62	46.25
WACC
PV LFCF						17.57	20.13	23.07	26.42	30.27
SUM PV LFCF										126.07

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%)	7.32
Free cash flow (t + 1)	47.18
Terminal Value	886.83
Present Value of Terminal Value	622.93

Intrinsic Value

Enterprise Value	749
Net Debt	746.20
Equity Value	2.80
Shares Outstanding	5.71
Equity Value Per Share	0.49