Discounted Cash Flow (DCF) Analysis Unlevered

Omax Autos Limited (OMAXAUTO.NS)

57.4 ₹

-1.15 (-1.96%)
All numbers are in Millions, Currency in USD
Stock DCF: -6.39 | 57.4 | 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 11,789.589,529.064,516.351,614.852,135.841,581.801,171.48867.60642.54475.87
Revenue (%)
EBITDA 487.41507.03810.25282.04645.28237.50175.89130.2796.4871.45
EBITDA (%)
EBIT 268310.69707.73156.70492.99170.80126.5093.6869.3851.38
EBIT (%)
Depreciation 219.41196.34102.52125.34152.2966.7049.4036.5827.0920.07
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 384.72210.0110.39195.06170.5981.5160.3644.7033.1124.52
Total Cash (%)
Account Receivables ----------
Account Receivables (%)
Inventories 574.24569.85459.09304.75279.07167.52124.0791.8968.0550.40
Inventories (%)
Accounts Payable 1,567.101,092.74689.56367.72467.55267.93198.43146.95108.8380.60
Accounts Payable (%)
Capital Expenditure -90.69-250.08-1,797.59-668.71-147.12-289.45-214.37-158.76-117.58-87.08
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 57.4
Beta 0.399
Diluted Shares Outstanding 21.39
Cost of Debt
Tax Rate -3.37
After-tax Cost of Debt 18.54%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.400
Total Debt 1,434.67
Total Equity 1,227.68
Total Capital 2,662.36
Debt Weighting 53.89
Equity Weighting 46.11
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 11,789.589,529.064,516.351,614.852,135.841,581.801,171.48867.60642.54475.87
EBITDA 487.41507.03810.25282.04645.28237.50175.89130.2796.4871.45
EBIT 268310.69707.73156.70492.99170.80126.5093.6869.3851.38
Tax Rate -1,242.08%91.59%6.33%12.47%-3.37%-227.01%-227.01%-227.01%-227.01%-227.01%
EBIAT 3,596.8426.12662.94137.17509.63558.54413.66306.35226.89168.03
Depreciation 219.41196.34102.52125.34152.2966.7049.4036.5827.0920.07
Accounts Receivable ----------
Inventories -4.38110.76154.3425.68111.5443.4632.1823.8417.65
Accounts Payable --474.35-403.18-321.8499.83-199.63-69.50-51.47-38.12-28.23
Capital Expenditure -90.69-250.08-1,797.59-668.71-147.12-289.45-214.37-158.76-117.58-87.08
UFCF 3,725.55-497.59-1,324.54-573.70640.31247.71222.65164.89122.1290.44
WACC
PV UFCF 220.23175.98115.8776.2950.23
SUM PV UFCF 638.60

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 12.48
Free cash flow (t + 1) 92.25
Terminal Value 880.24
Present Value of Terminal Value 488.91

Intrinsic Value

Enterprise Value 1,127.51
Net Debt 1,264.08
Equity Value -136.58
Shares Outstanding 21.39
Equity Value Per Share -6.39