| Intrinsic Valuation of: IRCTC | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 16 | Market Cap | ₹625B | |||||
| 2021 | - | - (-) | P/E Ratio | 47 | Total Asset | ₹68B | |||||
| 2022 | ₹5B | - (-) | Net Income | ₹13B | Total Debt | ₹0 | |||||
| 2023 | ₹7B | 48.2% (-21.4%) | EBITDA | ₹18B | Total Liab | ₹31B | |||||
| 2024 | ₹6B | -12.7% (-27.6%) | Opr Margin | 0.32 | Debt/Equity | - | |||||
| 2025 | ₹8B | 17.3% (7.1%) | PreTax Margin | 31.67 | BV/Share | 46 | |||||
| 5Y Average FCF | ₹7B | 17.6% (-14.0%) | |||||||||
| 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 (17.6%) | ||||||||||
| 2026 | ₹9B | MBG Intrinsic Value | ₹147 | ||||||||
| 2027 | ₹11B | ||||||||||
| 2028 | ₹12B | ||||||||||
| 2029 | ₹15B | ||||||||||
| 2030 | ₹17B | ||||||||||
| 2031 | ₹20B | ||||||||||
| Terminal Value | ₹419B | Net Worth/Share | ₹46 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | ₹336B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | ₹4B | ₹425 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | ₹0 | WACC | 7.3% | 371 | 400 | 434 | 476 | 530 | |||
| Equity Value | ₹340B | 7.4% | 368 | 396 | 429 | 471 | 523 | ||||
| Shares Outstanding | 800,000,000 | 7.4% | 365 | 392 | 425 | 465 | 516 | ||||
| 7.9% | 334 | 357 | 384 | 416 | 455 | ||||||
| DCF Intrinsic Value | ₹425 | 8.4% | 308 | 327 | 349 | 375 | 407 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||