| Intrinsic Valuation of: IPCALAB | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 36 | Market Cap | ₹407B | |||||
| 2021 | - | - (-) | P/E Ratio | 45 | Total Asset | ₹118B | |||||
| 2022 | ₹4B | - (-) | Net Income | ₹7B | Total Debt | ₹5B | |||||
| 2023 | ₹3B | -17.4% (-23.3%) | EBITDA | ₹16B | Total Liab | ₹34B | |||||
| 2024 | ₹5B | 71.3% (39.5%) | Opr Margin | 15.31 | Debt/Equity | 0.06 | |||||
| 2025 | ₹5B | 2.3% (-11.9%) | PreTax Margin | 14.36 | BV/Share | 266 | |||||
| 5Y Average FCF | ₹4B | 15.0% (1.4%) | |||||||||
| 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): | 7.01% | 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%) | ||||||||||
| 2026 | ₹6B | MBG Intrinsic Value | ₹320 | ||||||||
| 2027 | ₹7B | ||||||||||
| 2028 | ₹7B | ||||||||||
| 2029 | ₹8B | ||||||||||
| 2030 | ₹8B | ||||||||||
| 2031 | ₹8B | ||||||||||
| Terminal Value | ₹192B | Net Worth/Share | ₹331 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | ₹162B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | ₹2B | ₹625 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | ₹5B | WACC | 6.5% | 587 | 641 | 708 | 794 | 909 | |||
| Equity Value | ₹159B | 7.1% | 519 | 559 | 609 | 670 | 748 | ||||
| Shares Outstanding | 253,704,218 | 7.8% | 464 | 495 | 533 | 578 | 635 | ||||
| 8.4% | 419 | 445 | 474 | 509 | 552 | ||||||
| DCF Intrinsic Value | ₹625 | 9.0% | 382 | 403 | 426 | 454 | 486 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||