NSE: MAXIND - Max India 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 = -13.06
CAGR EPS = 9.16%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 202.25 + (202.25 * 9.16% / 100) = 220.78

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) = -0.7721
Ebitda Yield = 0.0722
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 = 0.0459
Debt = 0.0528
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.0528) = 0
Weight Cost Debt = 100% - 0 = 1
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 = -1.24
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -1.24 * 5.94 + 0 = -0.0463
WACC = (0.0459 / 0.0528) * (100% - 0) * (1 - 0.21) + -0.0463 + 0 = 68.68
Terminal Value = Discount (-0.7721 * (1 + 0.0722) / (68.68 - 0.0722)) = -0.0987
Company Value = ∑ (-0.7721 / (1 + 68.68) ^ 5) = -0.8521
Price = (Terminal Value + Company Value) / Count shares = (-0.0987 + -0.8521) / 47750000 = -19.91

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) = -25.4
FCF Yield = 0.8875
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 = 0.0459
Debt = 0.0528
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.0528) = 0
Weight Cost Debt = 100% - 0 = 1
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 = -1.24
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -1.24 * 5.94 + 0 = -0.0463
WACC = (0.0459 / 0.0528) * (100% - 0) * (1 - 0.21) + -0.0463 + 0 = 68.68
Terminal Value = Discount (-25.4 * (1 + 0.8875) / (68.68 - 0.8875)) = -17.49
Company Value = ∑ (-25.4 / (1 + 68.68) ^ 5) = -7.52
Price = (Terminal Value + Company Value) / Count shares = (-17.49 + -7.52) / 47750000 = -523.87