Discounted Cash Flow (DCF) Analysis Unlevered
Lypsa Gems & Jewellery Limited (LYPSAGEMS.NS)
4.35 ₹
0.00 (0.00%)
All numbers are in Millions, Currency in USD
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 | 3,200.70 | 1,999.23 | 382.92 | 84.11 | 140.24 | 94.77 | 64.04 | 43.28 | 29.25 | 19.77 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| EBITDA | 285.63 | 150.65 | -213.13 | -255.67 | 3.15 | -64.62 | -43.67 | -29.51 | -19.94 | -13.48 |
| EBITDA (%) | ||||||||||
| EBIT | 281.94 | 148.35 | -213.57 | -255.77 | 2.99 | -64.73 | -43.74 | -29.56 | -19.98 | -13.50 |
| EBIT (%) | ||||||||||
| Depreciation | 3.69 | 2.30 | 0.44 | 0.10 | 0.16 | 0.11 | 0.07 | 0.05 | 0.03 | 0.02 |
| 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 | 13.87 | 42.58 | 4.91 | 1.08 | 1.80 | 1.21 | 0.82 | 0.55 | 0.37 | 0.25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Cash (%) | ||||||||||
| Account Receivables | - | - | - | - | - | - | - | - | - | - |
| Account Receivables (%) | ||||||||||
| Inventories | 24.02 | 10.04 | 2.40 | 0.53 | 0.88 | 0.59 | 0.40 | 0.27 | 0.18 | 0.12 |
| Inventories (%) | ||||||||||
| Accounts Payable | 1,274.89 | 1,978.87 | 265.77 | 58.38 | 97.33 | 65.78 | 44.45 | 30.04 | 20.30 | 13.72 |
| Accounts Payable (%) | ||||||||||
| Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
| Capital Expenditure (%) |
Weighted Average Cost Of Capital
| Share price | $ 4.35 |
|---|---|
| Beta | 0.526 |
| 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 | 6.227 |
| Total Debt | 133.85 |
| Total Equity | 128.26 |
| Total Capital | 262.11 |
| Debt Weighting | 51.07 |
| Equity Weighting | 48.93 |
| 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 | 3,200.70 | 1,999.23 | 382.92 | 84.11 | 140.24 | 94.77 | 64.04 | 43.28 | 29.25 | 19.77 |
|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA | 285.63 | 150.65 | -213.13 | -255.67 | 3.15 | -64.62 | -43.67 | -29.51 | -19.94 | -13.48 |
| EBIT | 281.94 | 148.35 | -213.57 | -255.77 | 2.99 | -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 | 282.05 | 148 | -213.73 | -255.88 | 4.97 | -73.29 | -49.53 | -33.47 | -22.62 | -15.29 |
| Depreciation | 3.69 | 2.30 | 0.44 | 0.10 | 0.16 | 0.11 | 0.07 | 0.05 | 0.03 | 0.02 |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventories | - | 13.98 | 7.64 | 1.87 | -0.35 | 0.28 | 0.19 | 0.13 | 0.09 | 0.06 |
| Accounts Payable | - | 703.97 | -1,713.09 | -207.40 | 38.96 | -31.56 | -21.33 | -14.41 | -9.74 | -6.58 |
| Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
| UFCF | 285.74 | 868.26 | -1,918.74 | -461.31 | 43.74 | -104.45 | -70.59 | -47.70 | -32.24 | -21.78 |
| WACC | ||||||||||
| PV UFCF | -98.91 | -63.30 | -40.51 | -25.92 | -16.59 | |||||
| SUM PV UFCF | -245.23 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 5.60 |
| Free cash flow (t + 1) | -22.22 |
| Terminal Value | -617.24 |
| Present Value of Terminal Value | -470.04 |
Intrinsic Value
| Enterprise Value | -715.27 |
|---|---|
| Net Debt | 128.24 |
| Equity Value | -843.52 |
| Shares Outstanding | 29.48 |
| Equity Value Per Share | -28.61 |