NSE: ESTER - Ester 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 = -14.49
CAGR EPS = 8.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 122.57 + (122.57 * 8.66% / 100) = 133.18

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) = 0.0016
Ebitda Yield = -0.4514
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 = 0.7036
Debt = 7.73
Market Cap = 9.45
Weight Debt = Market Cap / (Market Cap + Debt) = 9.45 / (9.45 + 7.73) = 0.5502
Weight Cost Debt = 100% - 0.5502 = 0.4498
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 = 1.71
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.71 * 5.94 + 0 = 0.1299
WACC = (0.7036 / 7.73) * (100% - 0.5502) * (1 - 0.21) + 0.1299 + 0.5502 = 7.23
Terminal Value = Discount (0.0016 * (1 + -0.4514) / (7.23 - -0.4514)) = 0.0011
Company Value = ∑ (0.0016 / (1 + 7.23) ^ 5) = 0.0316
Price = (Terminal Value + Company Value) / Count shares = (0.0011 + 0.0316) / 83540000 = 0.3915

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) = 0.0028
FCF Yield = -1.39
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 = 0.7036
Debt = 7.73
Market Cap = 9.45
Weight Debt = Market Cap / (Market Cap + Debt) = 9.45 / (9.45 + 7.73) = 0.5502
Weight Cost Debt = 100% - 0.5502 = 0.4498
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 = 1.71
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.71 * 5.94 + 0 = 0.1299
WACC = (0.7036 / 7.73) * (100% - 0.5502) * (1 - 0.21) + 0.1299 + 0.5502 = 7.23
Terminal Value = Discount (0.0028 * (1 + -1.39) / (7.23 - -1.39)) = -0.000528
Company Value = ∑ (0.0028 / (1 + 7.23) ^ 5) = 0.0802
Price = (Terminal Value + Company Value) / Count shares = (-0.000528 + 0.0802) / 83540000 = 0.9533