Focus Lighting and Fixtures Ltd

NSEI:FOCUS

印度 / 工业 / 电气设备

概况

股息

10年EBITDA现金流贴现退出法

股票价格

77.83 INR

公允价值

106.88 INR

Metrics	Range	Conclusion
Discount Rate	10.0% - 9.0%	9.5%
Terminal EBITDA Multiple	10.8x - 12.8x	11.8x
Fair Value	97.17₹ - 117.28₹	106.88₹
Upside	24.8% - 50.7%	37.3%

5.4%

Revenue 10y CAGR

24.7%

10y Avg EBITDA Margin

Unlevered FCF 10y CAGR

10-Year DCF Model: EBITDA Exit

股票价格

77.83 INR

公允价值

106.88 INR

看涨

37.3%

Revenue and EBITDA

CapEx

Working Capital

D&A

Tax Rate

Discount Rate

Terminal Value


Select Revenue and EBITDA Forecast

(INR in millions)		Input Projections
Fiscal Years Ending	Mar-24	Mar-25	Mar-26	Mar-27	Mar-28	Mar-29	Mar-30	Mar-31	Mar-32	Mar-33	Mar-34

Revenue	2,238	2,686	3,021	3,248	3,362	3,429	3,498	3,568	3,639	3,712	3,786
% Growth	32.8%	20.0%	12.5%	7.5%	3.5%	2.0%	2.0%	2.0%	2.0%	2.0%	2.0%

EBITDA	441	582	731	818	847	864	881	898	916	935	953
% of Revenue	19.7%	21.7%	24.2%	25.2%	25.2%	25.2%	25.2%	25.2%	25.2%	25.2%	25.2%

支持的计算方式

Calculation of Free Cash Flow

Discounting Periods

Discounting Factors

Calculation of Enterprise Value

Equity Waterfall

Historical Financials

Current Trading Multiples


Calculation of Free Cash Flow

Projected Unlevered Cash Flow
(INR in millions)		Mar-25	Mar-26	Mar-27	Mar-28	Mar-29	Mar-30	Mar-31	Mar-32	Mar-33	Mar-34

EBITDA		582	731	818	847	864	881	898	916	935	953
Other Income / (Exp)		0	0	0	0	0	0	0	0	0	0
D&A		(54)	(61)	(65)	(68)	(69)	(70)	(72)	(73)	(75)	(76)

EBIT		528	670	753	779	795	811	827	843	860	877
Pro forma Taxes		(127)	(161)	(181)	(187)	(191)	(195)	(198)	(202)	(206)	(211)
NOPAT	301	402	509	572	592	604	616	628	641	654	667

Capital Expenditures	(248)	(211)	(237)	(255)	(264)	(270)	(263)	(266)	(266)	(265)	(265)
NWC Investment	(114)	(93)	(69)	(47)	(24)	(14)	(14)	(14)	(15)	(15)	(15)
(+) D&A	45	54	61	65	68	69	70	72	73	75	76

Free Cash Flow	(16)	152	263	335	372	389	409	420	433	448	462
% Growth		NM	73%	27%	11%	5%	5%	3%	3%	3%	3%

加载出错

Focus Lighting and Fixtures Ltd

NSEI:FOCUS

印度 / 工业 / 电气设备

10年EBITDA现金流贴现退出法