BSE: GEPIL - GE Power India Limited

Price = Avg Price + (Avg Price * CAGR EPS% / 100)
EPS = Earning Per Share
CAGR EPS = CAGR 5 EPS
Key Rate — Nøkkelrente
Excess Key Rate — Ønsket overskridelse av styringsrenten
EPS = -25.49
CAGR EPS = 8.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 302.2 + (302.2 * 8.66% / 100) = 328.37

Price = (Terminal Value + Company Value) / Count shares
Price - Fair pris
Terminal Value — kostnad i perioden etter prognose
Company Value — kostnad i prognoseperioden
Count shares - Antall aksjer
Terminal Value = Discount Ebitda(5) * (1 + Ebitda Yield) / (WACC - Ebitda Yield)
Company Value = ∑ (Discount Ebitda / (1 + WACC) ^ 5)
Discount Ebitda(5) = 0.2278
Ebitda Yield = -1.62
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - Gjeldsbetjeningskostnader
Debt - Plikt
Weight Debt - Kapitaliseringsvekt i forhold til gjeld
Weight Cost Debt - Gjeldsvekt i forhold til kapitalisering
Tax - Avgift
Interest Expense = 0.6674
Debt = 3.62
Market Cap = 10.55
Weight Debt = Market Cap / (Market Cap + Debt) = 10.55 / (10.55 + 3.62) = 0.7445
Weight Cost Debt = 100% - 0.7445 = 0.2555
Tax = 0.21
Cost Of Equity — diskonteringsrente
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — risikofri avkastning
β (beta) — bestemmer risikomålet for en aksje (aktiva) i forhold til markedet og viser sensitiviteten til endringer i aksjens lønnsomhet i forhold til endringer i markedslønnsomheten.
Risk Premium — risikopremie - premie for risikoen ved å investere i aksjer
Country Premium - landrisiko
k(f) = 2.89
β = 1.94
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 1.94 * 5.94 + 0 = 0.1444
WACC = (0.6674 / 3.62) * (100% - 0.7445) * (1 - 0.21) + 0.1444 + 0.7445 = 14.56
Terminal Value = Discount (0.2278 * (1 + -1.62) / (14.56 - -1.62)) = -0.0405
Company Value = ∑ (0.2278 / (1 + 14.56) ^ 5) = 0.9116
Price = (Terminal Value + Company Value) / Count shares = (-0.0405 + 0.9116) / 67230000 = 12.96

Price = (Terminal Value + Company Value) / Count shares
Price - Fair pris
Terminal Value — kostnad i perioden etter prognose
Company Value — kostnad i prognoseperioden
Count shares - Antall aksjer
Terminal Value = Discount FCF(5) * (1 + FCF Yield) / (WACC - FCF Yield)
Company Value = ∑ (Discount FCF / (1 + WACC) ^ 5)
Discount FCF(5) = 3.27
FCF Yield = 0.1443
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - Gjeldsbetjeningskostnader
Debt - Plikt
Weight Debt - Kapitaliseringsvekt i forhold til gjeld
Weight Cost Debt - Gjeldsvekt i forhold til kapitalisering
Tax - Avgift
Interest Expense = 0.6674
Debt = 3.62
Market Cap = 10.55
Weight Debt = Market Cap / (Market Cap + Debt) = 10.55 / (10.55 + 3.62) = 0.7445
Weight Cost Debt = 100% - 0.7445 = 0.2555
Tax = 0.21
Cost Of Equity — diskonteringsrente
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — risikofri avkastning
β (beta) — bestemmer risikomålet for en aksje (aktiva) i forhold til markedet og viser sensitiviteten til endringer i aksjens lønnsomhet i forhold til endringer i markedslønnsomheten.
Risk Premium — risikopremie - premie for risikoen ved å investere i aksjer
Country Premium - landrisiko
k(f) = 2.89
β = 1.94
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 1.94 * 5.94 + 0 = 0.1444
WACC = (0.6674 / 3.62) * (100% - 0.7445) * (1 - 0.21) + 0.1444 + 0.7445 = 14.56
Terminal Value = Discount (3.27 * (1 + 0.1443) / (14.56 - 0.1443)) = 1370.76
Company Value = ∑ (3.27 / (1 + 14.56) ^ 5) = 8.31
Price = (Terminal Value + Company Value) / Count shares = (1370.76 + 8.31) / 67230000 = 20512.71