| Intrinsic Valuation of: HAL | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 136 | Market Cap | ₹2,933B | |||||
| 2021 | - | - (-) | P/E Ratio | 32 | Total Asset | ₹1,063B | |||||
| 2022 | ₹87B | - (-) | Net Income | ₹84B | Total Debt | ₹0 | |||||
| 2023 | ₹70B | -18.7% (-24.9%) | EBITDA | ₹122B | Total Liab | ₹713B | |||||
| 2024 | ₹65B | -8.2% (-14.1%) | Opr Margin | 28.02 | Debt/Equity | - | |||||
| 2025 | ₹119B | 83.8% (71.9%) | PreTax Margin | 27.99 | BV/Share | 483 | |||||
| 5Y Average FCF | ₹85B | 12.0% (11.0%) | |||||||||
| 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 (12.0%) | ||||||||||
| 2026 | ₹122B | MBG Intrinsic Value | ₹1,223 | ||||||||
| 2027 | ₹134B | ||||||||||
| 2028 | ₹145B | ||||||||||
| 2029 | ₹154B | ||||||||||
| 2030 | ₹161B | ||||||||||
| 2031 | ₹165B | ||||||||||
| Terminal Value | ₹2,598B | Net Worth/Share | ₹523 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | ₹2,200B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | ₹45B | ₹3,357 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | ₹0 | WACC | 7.0% | 4,136 | 4,455 | 4,846 | 5,335 | 5,963 | |||
| Equity Value | ₹2,245B | 8.0% | 3,497 | 3,712 | 3,966 | 4,271 | 4,645 | ||||
| Shares Outstanding | 668,775,000 | 9.0% | 3,029 | 3,181 | 3,357 | 3,563 | 3,806 | ||||
| 10.0% | 2,671 | 2,784 | 2,911 | 3,057 | 3,225 | ||||||
| DCF Intrinsic Value | ₹3,357 | 11.0% | 2,389 | 2,475 | 2,570 | 2,678 | 2,800 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||