| Intrinsic Valuation of: M&M | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2021 | - | - | EPS (FY) | 152 | Market Cap | ₹3,750B | |||||
| 2022 | - | - (-) | P/E Ratio | 21 | Total Asset | ₹3,176B | |||||
| 2023 | ₹-134B | - (-) | Net Income | ₹171B | Total Debt | ₹735B | |||||
| 2024 | ₹-156B | -16.4% (-2.1%) | EBITDA | ₹421B | Total Liab | ₹2,081B | |||||
| 2025 | ₹-72B | 53.7% (60.4%) | Opr Margin | 14.86 | Debt/Equity | 0.67 | |||||
| 2026 | ₹21B | 128.4% (122.8%) | PreTax Margin | 10.01 | BV/Share | 652 | |||||
| 5Y Average FCF | ₹-85B | 15.0% (60.4%) | |||||||||
| 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): | 7.55% | 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%) | ||||||||||
| 2027 | ₹24B | MBG Intrinsic Value | ₹1,361 | ||||||||
| 2028 | ₹27B | ||||||||||
| 2029 | ₹29B | ||||||||||
| 2030 | ₹31B | ||||||||||
| 2031 | ₹33B | ||||||||||
| 2032 | ₹34B | ||||||||||
| Terminal Value | ₹682B | Net Worth/Share | ₹912 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | ₹577B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | ₹43B | ₹-95 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | ₹735B | WACC | 6.5% | -69 | -24 | 33 | 105 | 202 | |||
| Equity Value | ₹-114B | 7.3% | -137 | -105 | -65 | -17 | 44 | ||||
| Shares Outstanding | 1,200,762,264 | 8.0% | -190 | -166 | -138 | -103 | -62 | ||||
| 8.8% | -231 | -213 | -191 | -166 | -136 | ||||||
| DCF Intrinsic Value | ₹-95 | 9.6% | -265 | -250 | -234 | -214 | -192 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||