NSE: PATELENG - Patel Engineering 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 = 3.35
CAGR EPS = 54.73%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 56.46 + (56.46 * 54.73% / 100) = 87.35

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) = 15.69
Ebitda Yield = 0.1453
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 = 3.62
Debt = 19.1
Market Cap = 22.05
Weight Debt = Market Cap / (Market Cap + Debt) = 22.05 / (22.05 + 19.1) = 0.5359
Weight Cost Debt = 100% - 0.5359 = 0.4641
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 = 1.86
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 1.86 * 5.94 + 0 = 0.1405
WACC = (3.62 / 19.1) * (100% - 0.5359) * (1 - 0.21) + 0.1405 + 0.5359 = 14.97
Terminal Value = Discount (15.69 * (1 + 0.1453) / (14.97 - 0.1453)) = 2028.48
Company Value = ∑ (15.69 / (1 + 14.97) ^ 5) = 39.34
Price = (Terminal Value + Company Value) / Count shares = (2028.48 + 39.34) / 866690000 = 2385.89

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) = 7.29
FCF Yield = 0.0665
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 = 3.62
Debt = 19.1
Market Cap = 22.05
Weight Debt = Market Cap / (Market Cap + Debt) = 22.05 / (22.05 + 19.1) = 0.5359
Weight Cost Debt = 100% - 0.5359 = 0.4641
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 = 1.86
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 1.86 * 5.94 + 0 = 0.1405
WACC = (3.62 / 19.1) * (100% - 0.5359) * (1 - 0.21) + 0.1405 + 0.5359 = 14.97
Terminal Value = Discount (7.29 * (1 + 0.0665) / (14.97 - 0.0665)) = 46.5
Company Value = ∑ (7.29 / (1 + 14.97) ^ 5) = 21.21
Price = (Terminal Value + Company Value) / Count shares = (46.5 + 21.21) / 866690000 = 78.13