NSE: AMBER - Amber Enterprises India 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 = 39.44
CAGR EPS = -4.77%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 39.44 * (1 + -4.77%) / (0.0458 * 2) = 410.03

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) = 7.1
Ebitda Yield = 0.0761
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 = 1.12
Debt = 14.54
Market Cap = 76.07
Weight Debt = Market Cap / (Market Cap + Debt) = 76.07 / (76.07 + 14.54) = 0.8395
Weight Cost Debt = 100% - 0.8395 = 0.1605
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) = 2.75
β = 1.66
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 1.66 * 5.94 + 0 = 0.1263
WACC = (1.12 / 14.54) * (100% - 0.8395) * (1 - 0.21) + 0.1263 + 0.8395 = 6.13
Terminal Value = Discount (7.1 * (1 + 0.0761) / (6.13 - 0.0761)) = 382.95
Company Value = ∑ (7.1 / (1 + 6.13) ^ 5) = 25.64
Price = (Terminal Value + Company Value) / Count shares = (382.95 + 25.64) / 33690000 = 12128.04

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) = 10.83
FCF Yield = 0.1995
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 = 1.12
Debt = 14.54
Market Cap = 76.07
Weight Debt = Market Cap / (Market Cap + Debt) = 76.07 / (76.07 + 14.54) = 0.8395
Weight Cost Debt = 100% - 0.8395 = 0.1605
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) = 2.75
β = 1.66
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 1.66 * 5.94 + 0 = 0.1263
WACC = (1.12 / 14.54) * (100% - 0.8395) * (1 - 0.21) + 0.1263 + 0.8395 = 6.13
Terminal Value = Discount (10.83 * (1 + 0.1995) / (6.13 - 0.1995)) = 69.82
Company Value = ∑ (10.83 / (1 + 6.13) ^ 5) = 31.96
Price = (Terminal Value + Company Value) / Count shares = (69.82 + 31.96) / 33690000 = 3021.1