BSE: SPARC - Sun Pharma Advanced Research Company 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 = -11.93
CAGR EPS = 0.0173%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 240.53 + (240.53 * 0.0173% / 100) = 240.57

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) = -2.78
Ebitda Yield = 0.0646
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 = 0.0119
Debt = 0.1567
Market Cap = 62.68
Weight Debt = Market Cap / (Market Cap + Debt) = 62.68 / (62.68 + 0.1567) = 0.9975
Weight Cost Debt = 100% - 0.9975 = 0.0024999999999999
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) = 2.82
β = 7.41
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 7.41 * 5.94 + 0 = 0.4681
WACC = (0.0119 / 0.1567) * (100% - 0.9975) * (1 - 0.21) + 0.4681 + 0.9975 = 6.43
Terminal Value = Discount (-2.78 * (1 + 0.0646) / (6.43 - 0.0646)) = -6609.34
Company Value = ∑ (-2.78 / (1 + 6.43) ^ 5) = -10.17
Price = (Terminal Value + Company Value) / Count shares = (-6609.34 + -10.17) / 324520000 = -20397.84

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) = -7.07
FCF Yield = 0.0917
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 = 0.0119
Debt = 0.1567
Market Cap = 62.68
Weight Debt = Market Cap / (Market Cap + Debt) = 62.68 / (62.68 + 0.1567) = 0.9975
Weight Cost Debt = 100% - 0.9975 = 0.0024999999999999
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) = 2.82
β = 7.41
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 7.41 * 5.94 + 0 = 0.4681
WACC = (0.0119 / 0.1567) * (100% - 0.9975) * (1 - 0.21) + 0.4681 + 0.9975 = 6.43
Terminal Value = Discount (-7.07 * (1 + 0.0917) / (6.43 - 0.0917)) = -206.04
Company Value = ∑ (-7.07 / (1 + 6.43) ^ 5) = -24.61
Price = (Terminal Value + Company Value) / Count shares = (-206.04 + -24.61) / 324520000 = -710.73