Discounted Cash Flow (DCF) Analysis Unlevered

Jindal Drilling & Industries Limite... (JINDRILL.NS)

258 ₹

-2.25 (-0.86%)
All numbers are in Millions, Currency in USD
Stock DCF: -5,553.27 | 258 | overvalue

Operating Data

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 1,489.402,073.942,161.963,978.554,198.605,595.137,456.179,936.2313,241.1917,645.45
Revenue (%)
EBITDA -47.78900.13-5,451.83485.031,378.40-1,868.28-2,489.70-3,317.82-4,421.39-5,892.03
EBITDA (%)
EBIT -139.58810.78-5,709.42161.23944.30-2,325.56-3,099.09-4,129.90-5,503.58-7,334.17
EBIT (%)
Depreciation 91.8089.36257.58323.80434.10457.28609.39812.081,082.191,442.15
Depreciation (%)

Balance Sheet Data

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Total Cash 37.0747.636.975.631,230386.57515.15686.49914.841,219.13
Total Cash (%)
Account Receivables ----------
Account Receivables (%)
Inventories 102.7079.05328.04403.95403.50510.77680.66907.051,208.761,610.81
Inventories (%)
Accounts Payable 200.62248.57362.57572.99357.90729.07971.581,294.741,725.392,299.29
Accounts Payable (%)
Capital Expenditure -70.0376.92-5,042.62-55.50-1,926.20-3,150.15-4,197.95-5,594.26-7,455.02-9,934.69
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 258
Beta 0.879
Diluted Shares Outstanding 28.98
Cost of Debt
Tax Rate 25.54
After-tax Cost of Debt 2.65%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.682
Total Debt 2,203.50
Total Equity 7,477.10
Total Capital 9,680.60
Debt Weighting 22.76
Equity Weighting 77.24
Wacc

Build Up Free Cash

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 1,489.402,073.942,161.963,978.554,198.605,595.137,456.179,936.2313,241.1917,645.45
EBITDA -47.78900.13-5,451.83485.031,378.40-1,868.28-2,489.70-3,317.82-4,421.39-5,892.03
EBIT -139.58810.78-5,709.42161.23944.30-2,325.56-3,099.09-4,129.90-5,503.58-7,334.17
Tax Rate 50.70%0.47%-1.23%415.87%25.54%98.27%98.27%98.27%98.27%98.27%
EBIAT -68.81806.97-5,779.90-509.28703.15-40.24-53.63-71.47-95.24-126.92
Depreciation 91.8089.36257.58323.80434.10457.28609.39812.081,082.191,442.15
Accounts Receivable ----------
Inventories -23.64-248.99-75.910.45-107.27-169.89-226.40-301.70-402.05
Accounts Payable -47.95114210.42-215.09371.17242.50323.16430.65573.90
Capital Expenditure -70.0376.92-5,042.62-55.50-1,926.20-3,150.15-4,197.95-5,594.26-7,455.02-9,934.69
UFCF -47.041,044.84-10,699.92-106.48-1,003.59-2,469.21-3,569.58-4,756.89-6,339.12-8,447.62
WACC
PV UFCF -2,317.63-3,144.79-3,933.55-4,920.15-6,154.19
SUM PV UFCF -20,470.32

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.54
Free cash flow (t + 1) -8,616.58
Terminal Value -189,792.42
Present Value of Terminal Value -138,266

Intrinsic Value

Enterprise Value -158,736.33
Net Debt 2,203.10
Equity Value -160,939.43
Shares Outstanding 28.98
Equity Value Per Share -5,553.27