Discounted Cash Flow (DCF) Analysis Unlevered

Lypsa Gems & Jewellery Limited (LYPSAGEMS.NS)

3.55 ₹

-0.05 (-1.39%)
All numbers are in Millions, Currency in USD
Stock DCF: -28.45 | 3.55 | 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 3,200.701,999.23382.9284.11140.2494.7764.0443.2829.2519.77
Revenue (%)
EBITDA 285.63150.65-213.13-255.673.15-64.62-43.67-29.51-19.94-13.48
EBITDA (%)
EBIT 281.94148.35-213.57-255.772.99-64.73-43.74-29.56-19.98-13.50
EBIT (%)
Depreciation 3.692.300.440.100.160.110.070.050.030.02
Depreciation (%)

Balance Sheet Data

Year
A/P
2018
Actual
2019
Actual
2020
Projected
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Total Cash 13.8742.584.911.081.801.210.820.550.370.25
Total Cash (%)
Account Receivables ----------
Account Receivables (%)
Inventories 24.0210.042.400.530.880.590.400.270.180.12
Inventories (%)
Accounts Payable 1,274.891,978.87265.7758.3897.3365.7844.4530.0420.3013.72
Accounts Payable (%)
Capital Expenditure ----------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 3.55
Beta 0.609
Diluted Shares Outstanding 29.48
Cost of Debt
Tax Rate -66.19
After-tax Cost of Debt 5.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.439
Total Debt 133.85
Total Equity 104.67
Total Capital 238.52
Debt Weighting 56.12
Equity Weighting 43.88
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 3,200.701,999.23382.9284.11140.2494.7764.0443.2829.2519.77
EBITDA 285.63150.65-213.13-255.673.15-64.62-43.67-29.51-19.94-13.48
EBIT 281.94148.35-213.57-255.772.99-64.73-43.74-29.56-19.98-13.50
Tax Rate -0.04%0.23%-0.08%-0.04%-66.19%-13.22%-13.22%-13.22%-13.22%-13.22%
EBIAT 282.05148-213.73-255.884.97-73.29-49.53-33.47-22.62-15.29
Depreciation 3.692.300.440.100.160.110.070.050.030.02
Accounts Receivable ----------
Inventories -13.987.641.87-0.350.280.190.130.090.06
Accounts Payable -703.97-1,713.09-207.4038.96-31.56-21.33-14.41-9.74-6.58
Capital Expenditure ----------
UFCF 285.74868.26-1,918.74-461.3143.74-104.45-70.59-47.70-32.24-21.78
WACC
PV UFCF -98.89-63.26-40.47-25.89-16.57
SUM PV UFCF -245.08

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.63
Free cash flow (t + 1) -22.22
Terminal Value -612.14
Present Value of Terminal Value -465.49

Intrinsic Value

Enterprise Value -710.58
Net Debt 128.24
Equity Value -838.82
Shares Outstanding 29.48
Equity Value Per Share -28.45