NSE: AWHCL - Antony Waste Handling Cell 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 = 30.39
CAGR EPS = 12.76%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 30.39 * (1 + 12.76%) / (0.0433 * 2) = 395.64

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) = 2.44
Ebitda Yield = 0.0483
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 = 0.3005
Debt = 4.47
Market Cap = 9.5
Weight Debt = Market Cap / (Market Cap + Debt) = 9.5 / (9.5 + 4.47) = 0.6801
Weight Cost Debt = 100% - 0.6801 = 0.3199
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 = 1.46
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 1.46 * 5.94 + 0 = 0.1144
WACC = (0.3005 / 4.47) * (100% - 0.6801) * (1 - 0.21) + 0.1144 + 0.6801 = 5.35
Terminal Value = Discount (2.44 * (1 + 0.0483) / (5.35 - 0.0483)) = 372.58
Company Value = ∑ (2.44 / (1 + 5.35) ^ 5) = 9.48
Price = (Terminal Value + Company Value) / Count shares = (372.58 + 9.48) / 28300000 = 13500.12

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) = 2.93
FCF Yield = -2.76
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 = 0.3005
Debt = 4.47
Market Cap = 9.5
Weight Debt = Market Cap / (Market Cap + Debt) = 9.5 / (9.5 + 4.47) = 0.6801
Weight Cost Debt = 100% - 0.6801 = 0.3199
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 = 1.46
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 1.46 * 5.94 + 0 = 0.1144
WACC = (0.3005 / 4.47) * (100% - 0.6801) * (1 - 0.21) + 0.1144 + 0.6801 = 5.35
Terminal Value = Discount (2.93 * (1 + -2.76) / (5.35 - -2.76)) = -1.41
Company Value = ∑ (2.93 / (1 + 5.35) ^ 5) = 1.52
Price = (Terminal Value + Company Value) / Count shares = (-1.41 + 1.52) / 28300000 = 3.86