NSE: DWARKESH - Dwarikesh Sugar Industries 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 = 4.44
CAGR EPS = 2.61%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 60.47 + (60.47 * 2.61% / 100) = 62.04

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 Ebitda(5) * (1 + Ebitda Yield) / (WACC - Ebitda Yield)
Company Value = ∑ (Discount Ebitda / (1 + WACC) ^ 5)
Discount Ebitda(5) = 3.08
Ebitda Yield = 0.0736
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 = 0.2013
Debt = 4.56
Market Cap = 17.29
Weight Debt = Market Cap / (Market Cap + Debt) = 17.29 / (17.29 + 4.56) = 0.7914
Weight Cost Debt = 100% - 0.7914 = 0.2086
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 = 6.12
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 6.12 * 5.94 + 0 = 0.3919
WACC = (0.2013 / 4.56) * (100% - 0.7914) * (1 - 0.21) + 0.3919 + 0.7914 = 3.77
Terminal Value = Discount (3.08 * (1 + 0.0736) / (3.77 - 0.0736)) = 76.56
Company Value = ∑ (3.08 / (1 + 3.77) ^ 5) = 11.97
Price = (Terminal Value + Company Value) / Count shares = (76.56 + 11.97) / 188300000 = 470.14

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) = -0.1723
FCF Yield = -0.1437
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 = 0.2013
Debt = 4.56
Market Cap = 17.29
Weight Debt = Market Cap / (Market Cap + Debt) = 17.29 / (17.29 + 4.56) = 0.7914
Weight Cost Debt = 100% - 0.7914 = 0.2086
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 = 6.12
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 6.12 * 5.94 + 0 = 0.3919
WACC = (0.2013 / 4.56) * (100% - 0.7914) * (1 - 0.21) + 0.3919 + 0.7914 = 3.77
Terminal Value = Discount (-0.1723 * (1 + -0.1437) / (3.77 - -0.1437)) = -0.6759
Company Value = ∑ (-0.1723 / (1 + 3.77) ^ 5) = -1.09
Price = (Terminal Value + Company Value) / Count shares = (-0.6759 + -1.09) / 188300000 = -9.38