Intrinsic Valuation of: EXIDEIND
Free Cash Flow Average and Growth over past 5Y Key Statistics
Year FCF FCF (FCF/Revenue)
2021 - - EPS (FY) 10 Market Cap ₹297B
2022 - - (-) P/E Ratio 35 Total Asset ₹212B
2023 ₹-2B - (-) Net Income ₹9B Total Debt ₹9B
2024 ₹-3B -52.4% (-36.9%) EBITDA ₹20B Total Liab ₹73B
2025 ₹-7B -97.1% (-90.6%) Opr Margin 7.12 Debt/Equity 0.07
2026 ₹13B 286.5% (278.7%) PreTax Margin 6.43 BV/Share 160
5Y Average FCF ₹42M 15.0% (50.4%)
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): 7.05% Current US Bond Yield: 3.48%
Forcasting Future Free Cash Flow for next 6Y Modified Benjamin Graham's Intrinsic Value
Year FCF Projection (15.0%)
2027 ₹14B MBG Intrinsic Value ₹90
2028 ₹16B
2029 ₹18B
2030 ₹19B
2031 ₹20B
2032 ₹21B
Terminal Value ₹465B Net Worth/Share ₹164
DCF Valuation DCF Valuation "What If" Scenario Table
Enterprise Value ₹394B Growth Rate
(+) Cash & Cash Equivalents ₹3B ₹456 1.5% 2.0% 2.5% 3.0% 3.5%
(-) Total Debt ₹9B WACC 6.5% 433 472 521 584 667
Equity Value ₹387B 7.1% 382 411 447 492 548
Shares Outstanding 850,000,000 7.8% 341 364 391 424 465
8.4% 308 326 347 373 403
DCF Intrinsic Value ₹456 9.1% 281 296 313 333 356
Analyzed by QuantJuice (2025)