| Intrinsic Valuation of: IRCTC | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 17 | Market Cap | ₹554B | |||||
| 2021 | - | - (-) | P/E Ratio | 41 | 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 | 0.32 | Debt/Equity | - | |||||
| 2025 | ₹8B | 20.9% (10.2%) | PreTax Margin | 31.83 | BV/Share | 46 | |||||
| 5Y Average FCF | ₹7B | 18.8% (-12.9%) | |||||||||
| 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 (18.8%) | ||||||||||
| 2026 | ₹9B | MBG Intrinsic Value | ₹150 | ||||||||
| 2027 | ₹11B | ||||||||||
| 2028 | ₹13B | ||||||||||
| 2029 | ₹16B | ||||||||||
| 2030 | ₹19B | ||||||||||
| 2031 | ₹22B | ||||||||||
| Terminal Value | ₹460B | Net Worth/Share | ₹46 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | ₹367B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | ₹4B | ₹464 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | ₹0 | WACC | 7.3% | 405 | 436 | 474 | 520 | 579 | |||
| Equity Value | ₹371B | 7.4% | 401 | 432 | 469 | 514 | 571 | ||||
| Shares Outstanding | 800,000,000 | 7.4% | 398 | 428 | 464 | 508 | 563 | ||||
| 7.9% | 364 | 389 | 418 | 454 | 497 | ||||||
| DCF Intrinsic Value | ₹464 | 8.4% | 336 | 357 | 381 | 409 | 444 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||