Intrinsic Valuation of: AJANTPHARM
Free Cash Flow Average and Growth over past 5Y Key Statistics
Year FCF FCF (FCF/Revenue)
2020 - - EPS (FY) 74 Market Cap ₹310B
2021 - - (-) P/E Ratio 33 Total Asset ₹50B
2022 ₹4B - (-) Net Income ₹9B Total Debt ₹0
2023 ₹6B 49.6% (32.5%) EBITDA ₹14B Total Liab ₹12B
2024 ₹6B 2.4% (-8.7%) Opr Margin 0.25 Debt/Equity -
2025 ₹8B 32.7% (20.3%) PreTax Margin 24.15 BV/Share 300
5Y Average FCF ₹6B 28.2% (14.7%)
Overall Market Assumptions:
Assumptions: P/E for No-Growth Company: 7.0
Perpetual Growth Rate (g): 2.5% Historical US Bond Yield: 4.4%
Discount Rate (WACC): 7.4% Current US Bond Yield: 3.5%
Forcasting Future Free Cash Flow for next 6Y Modified Benjamin Graham's Intrinsic Value
Year FCF Projection (25.0%)
2026 ₹10B MBG Intrinsic Value ₹666
2027 ₹13B
2028 ₹16B
2029 ₹20B
2030 ₹26B
2031 ₹32B
Terminal Value ₹666B Net Worth/Share ₹303
DCF Valuation DCF Valuation "What If" Scenario Table
Enterprise Value ₹521B Growth Rate
(+) Cash & Cash Equivalents ₹2B ₹4,188 1.5% 2.0% 2.5% 3.0% 3.5%
(-) Total Debt ₹0 WACC 7.3% 3,643 3,933 4,282 4,712 5,255
Equity Value ₹523B 7.4% 3,609 3,893 4,235 4,654 5,183
Shares Outstanding 124,936,000 7.4% 3,575 3,853 4,188 4,598 5,112
7.9% 3,268 3,498 3,770 4,096 4,497
DCF Intrinsic Value ₹4,188 8.4% 3,006 3,198 3,422 3,688 4,007
Analyzed by QuantJuice (2025)