NSE: GOKULAGRO - Gokul Agro Resources 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 = 9.2
CAGR EPS = 44.71%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 9.2 * (1 + 44.71%) / (0.0433 * 2) = 153.76

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) = 6.53
Ebitda Yield = 0.1722
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 = 1.18
Debt = 6.04
Market Cap = 15.77
Weight Debt = Market Cap / (Market Cap + Debt) = 15.77 / (15.77 + 6.04) = 0.7232
Weight Cost Debt = 100% - 0.7232 = 0.2768
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) = 3
β = 0.2223
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 0.2223 * 5.94 + 0 = 0.0432
WACC = (1.18 / 6.04) * (100% - 0.7232) * (1 - 0.21) + 0.0432 + 0.7232 = 15.32
Terminal Value = Discount (6.53 * (1 + 0.1722) / (15.32 - 0.1722)) = 197.61
Company Value = ∑ (6.53 / (1 + 15.32) ^ 5) = 15.51
Price = (Terminal Value + Company Value) / Count shares = (197.61 + 15.51) / 147540000 = 1444.49

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) = 0.2158
FCF Yield = -0.1038
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 = 1.18
Debt = 6.04
Market Cap = 15.77
Weight Debt = Market Cap / (Market Cap + Debt) = 15.77 / (15.77 + 6.04) = 0.7232
Weight Cost Debt = 100% - 0.7232 = 0.2768
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) = 3
β = 0.2223
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 0.2223 * 5.94 + 0 = 0.0432
WACC = (1.18 / 6.04) * (100% - 0.7232) * (1 - 0.21) + 0.0432 + 0.7232 = 15.32
Terminal Value = Discount (0.2158 * (1 + -0.1038) / (15.32 - -0.1038)) = 0.3689
Company Value = ∑ (0.2158 / (1 + 15.32) ^ 5) = 0.9328
Price = (Terminal Value + Company Value) / Count shares = (0.3689 + 0.9328) / 147540000 = 8.82