Intrinsic Valuation of: EXIDEIND
Free Cash Flow Average and Growth over past 5Y Key Statistics
Year FCF FCF (FCF/Revenue)
2020 - - EPS (FY) 10 Market Cap ₹337B
2021 - - (-) P/E Ratio 40 Total Asset ₹214B
2022 ₹981M - (-) Net Income ₹8B Total Debt ₹9B
2023 ₹-2B -329.4% (-294.7%) EBITDA ₹19B Total Liab ₹75B
2024 ₹-3B -52.4% (-36.9%) Opr Margin 0.07 Debt/Equity 0.07
2025 ₹-7B -97.1% (-91.7%) PreTax Margin 6.40 BV/Share 160
5Y Average FCF ₹-3B -159.6% (-141.1%)
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 (4.0%)
2026 ₹-3B MBG Intrinsic Value ₹89
2027 ₹-3B
2028 ₹-3B
2029 ₹-3B
2030 ₹-3B
2031 ₹-4B
Terminal Value ₹-75B Net Worth/Share ₹164
DCF Valuation DCF Valuation "What If" Scenario Table
Enterprise Value ₹-64B Growth Rate
(+) Cash & Cash Equivalents ₹2B ₹-85 1.5% 2.0% 2.5% 3.0% 3.5%
(-) Total Debt ₹9B WACC 7.3% -76 -80 -86 -93 -102
Equity Value ₹-72B 7.4% -75 -80 -85 -92 -101
Shares Outstanding 850,000,000 7.4% -75 -79 -85 -92 -100
7.9% -69 -73 -78 -83 -90
DCF Intrinsic Value ₹-85 8.4% -65 -68 -72 -76 -82
Analyzed by QuantJuice (2025)