Intrinsic Valuation of: ACC
Free Cash Flow Average and Growth over past 5Y Key Statistics
Year FCF FCF (FCF/Revenue)
2021 - - EPS (FY) 114 Market Cap ₹256B
2022 ₹-36B - (-) P/E Ratio 12 Total Asset ₹275B
2023 ₹17B 146.0 (150.7) Net Income ₹21B Total Debt ₹0
2024 ₹16B -3.6% (-22.1%) EBITDA ₹34B Total Liab ₹70B
2025 ₹-3B -116.1% (-115.0%) Opr Margin 7.11 Debt/Equity -
2026 ₹-28B -986.2% (-783.2%) PreTax Margin 6.68 BV/Share 1,059
5Y Average FCF ₹-7B 3.5% (-306.8%)
Overall Market Assumptions:
Assumptions: P/E for No-Growth Company: 7.0
Perpetual Growth Rate (g): 2.48% Historical US Bond Yield: 4.40%
Discount Rate (WACC): 8.98% Current US Bond Yield: 3.48%
Forcasting Future Free Cash Flow for next 6Y Modified Benjamin Graham's Intrinsic Value
Year FCF Projection (3.5%)
2027 ₹17B MBG Intrinsic Value ₹1,018
2028 ₹17B
2029 ₹18B
2030 ₹18B
2031 ₹19B
2032 ₹19B
Terminal Value ₹307B Net Worth/Share ₹1,095
DCF Valuation DCF Valuation "What If" Scenario Table
Enterprise Value ₹264B Growth Rate
(+) Cash & Cash Equivalents ₹5B ₹1,435 1.5% 2.0% 2.5% 3.0% 3.5%
(-) Total Debt ₹0 WACC 7.0% 1,762 1,897 2,061 2,266 2,530
Equity Value ₹269B 8.0% 1,494 1,584 1,691 1,819 1,976
Shares Outstanding 187,787,263 9.0% 1,297 1,361 1,435 1,521 1,623
10.0% 1,146 1,193 1,247 1,308 1,379
DCF Intrinsic Value ₹1,435 11.0% 1,027 1,063 1,103 1,148 1,200
Analyzed by QuantJuice (2025)