NSE: JUSTDIAL - Just Dial 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 = 42.67
CAGR EPS = 0.4091%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 42.67 * (1 + 0.4091%) / (0.0433 * 2) = 494.77

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) = 8.2
Ebitda Yield = 0.0946
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 = 0.0928
Debt = 0.8531
Market Cap = 62.19
Weight Debt = Market Cap / (Market Cap + Debt) = 62.19 / (62.19 + 0.8531) = 0.9865
Weight Cost Debt = 100% - 0.9865 = 0.0135
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 = 2.72
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 2.72 * 5.94 + 0 = 0.1892
WACC = (0.0928 / 0.8531) * (100% - 0.9865) * (1 - 0.21) + 0.1892 + 0.9865 = 8.7
Terminal Value = Discount (8.2 * (1 + 0.0946) / (8.7 - 0.0946)) = 770.94
Company Value = ∑ (8.2 / (1 + 8.7) ^ 5) = 26.66
Price = (Terminal Value + Company Value) / Count shares = (770.94 + 26.66) / 85040000 = 9379.15

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) = 3.61
FCF Yield = 0.0811
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 = 0.0928
Debt = 0.8531
Market Cap = 62.19
Weight Debt = Market Cap / (Market Cap + Debt) = 62.19 / (62.19 + 0.8531) = 0.9865
Weight Cost Debt = 100% - 0.9865 = 0.0135
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 = 2.72
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 2.72 * 5.94 + 0 = 0.1892
WACC = (0.0928 / 0.8531) * (100% - 0.9865) * (1 - 0.21) + 0.1892 + 0.9865 = 8.7
Terminal Value = Discount (3.61 * (1 + 0.0811) / (8.7 - 0.0811)) = 441.7
Company Value = ∑ (3.61 / (1 + 8.7) ^ 5) = 12.02
Price = (Terminal Value + Company Value) / Count shares = (441.7 + 12.02) / 85040000 = 5335.38