BSE: IFBIND - IFB Industries Limited

Price = EPS * (1 + CAGR EPS) / (Key Rate * Excess Key Rate)
EPS = Earning Per Share
CAGR EPS = CAGR 5 EPS
Key Rate — Nøkkelrente
Excess Key Rate — Ønsket overskridelse av styringsrenten
EPS = 12.43
CAGR EPS = 12.95%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 12.43 * (1 + 12.95%) / (0.0433 * 2) = 162.11

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) = 2.07
Ebitda Yield = 0.0248
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 = 0.2721
Debt = 0.6942
Market Cap = 32.55
Weight Debt = Market Cap / (Market Cap + Debt) = 32.55 / (32.55 + 0.6942) = 0.9791
Weight Cost Debt = 100% - 0.9791 = 0.0209
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) = 2.39
β = 1.65
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.39 + 1.65 * 5.94 + 0 = 0.1218
WACC = (0.2721 / 0.6942) * (100% - 0.9791) * (1 - 0.21) + 0.1218 + 0.9791 = 30.78
Terminal Value = Discount (2.07 * (1 + 0.0248) / (30.78 - 0.0248)) = 1.96
Company Value = ∑ (2.07 / (1 + 30.78) ^ 5) = 4.67
Price = (Terminal Value + Company Value) / Count shares = (1.96 + 4.67) / 40520000 = 163.63

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) = 19.35
FCF Yield = 0.4663
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 = 0.2721
Debt = 0.6942
Market Cap = 32.55
Weight Debt = Market Cap / (Market Cap + Debt) = 32.55 / (32.55 + 0.6942) = 0.9791
Weight Cost Debt = 100% - 0.9791 = 0.0209
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) = 2.39
β = 1.65
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.39 + 1.65 * 5.94 + 0 = 0.1218
WACC = (0.2721 / 0.6942) * (100% - 0.9791) * (1 - 0.21) + 0.1218 + 0.9791 = 30.78
Terminal Value = Discount (19.35 * (1 + 0.4663) / (30.78 - 0.4663)) = 46.79
Company Value = ∑ (19.35 / (1 + 30.78) ^ 5) = 20.38
Price = (Terminal Value + Company Value) / Count shares = (46.79 + 20.38) / 40520000 = 1657.89