| Intrinsic Valuation of: IRFC | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 5 | Market Cap | ₹1,852B | |||||
| 2021 | - | - (-) | P/E Ratio | 28 | Total Asset | ₹4,888B | |||||
| 2022 | ₹-644B | - (-) | Net Income | ₹65B | Total Debt | ₹4,121B | |||||
| 2023 | ₹-286B | 55.6% (61.9%) | EBITDA | ₹65B | Total Liab | ₹4,362B | |||||
| 2024 | ₹79B | 127.7% (124.5%) | Opr Margin | 0.24 | Debt/Equity | 7.83 | |||||
| 2025 | ₹82B | 4.1% (2.1%) | PreTax Margin | 23.93 | BV/Share | 40 | |||||
| 5Y Average FCF | ₹-192B | 62.5% (62.8%) | |||||||||
| 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 (25.0%) | ||||||||||
| 2026 | ₹103B | MBG Intrinsic Value | ₹45 | ||||||||
| 2027 | ₹129B | ||||||||||
| 2028 | ₹161B | ||||||||||
| 2029 | ₹201B | ||||||||||
| 2030 | ₹251B | ||||||||||
| 2031 | ₹314B | ||||||||||
| Terminal Value | ₹6,526B | Net Worth/Share | ₹40 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | ₹5,113B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | ₹57B | ₹80 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | ₹4,121B | WACC | 7.3% | 29 | 56 | 89 | 129 | 180 | |||
| Equity Value | ₹1,048B | 7.4% | 26 | 53 | 85 | 124 | 173 | ||||
| Shares Outstanding | 13,068,499,968 | 7.4% | 23 | 49 | 80 | 119 | 167 | ||||
| 7.9% | -6 | 16 | 41 | 72 | 109 | ||||||
| DCF Intrinsic Value | ₹80 | 8.4% | -31 | -13 | 8 | 33 | 63 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||