| Intrinsic Valuation of: IRCTC | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 18 | Market Cap | ₹429B | |||||
| 2021 | - | - (-) | P/E Ratio | 30 | 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% (-27.4%) | Opr Margin | 32.19 | Debt/Equity | - | |||||
| 2025 | ₹8B | 20.9% (10.2%) | PreTax Margin | 31.83 | BV/Share | 46 | |||||
| 5Y Average FCF | ₹7B | 15.0% (-12.9%) | |||||||||
| 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): | 7.00% | 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 | ₹9B | MBG Intrinsic Value | ₹159 | ||||||||
| 2027 | ₹10B | ||||||||||
| 2028 | ₹11B | ||||||||||
| 2029 | ₹11B | ||||||||||
| 2030 | ₹12B | ||||||||||
| 2031 | ₹12B | ||||||||||
| Terminal Value | ₹280B | Net Worth/Share | ₹46 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | ₹238B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | ₹4B | ₹302 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | ₹0 | WACC | 6.5% | 283 | 308 | 339 | 379 | 432 | |||
| Equity Value | ₹241B | 7.1% | 252 | 271 | 294 | 322 | 359 | ||||
| Shares Outstanding | 800,000,000 | 7.8% | 227 | 241 | 259 | 280 | 306 | ||||
| 8.4% | 206 | 217 | 231 | 247 | 267 | ||||||
| DCF Intrinsic Value | ₹302 | 9.0% | 189 | 198 | 209 | 222 | 237 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||