| Intrinsic Valuation of: M&M | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 122 | Market Cap | ₹3,894B | |||||
| 2021 | - | - (-) | P/E Ratio | 26 | Total Asset | ₹2,776B | |||||
| 2022 | ₹32B | - (-) | Net Income | ₹129B | Total Debt | ₹797B | |||||
| 2023 | ₹-134B | -517.1% (-409.9%) | EBITDA | ₹335B | Total Liab | ₹1,885B | |||||
| 2024 | ₹-156B | -16.4% (-2.1%) | Opr Margin | 0.16 | Debt/Equity | 0.89 | |||||
| 2025 | ₹-72B | 53.7% (59.6%) | PreTax Margin | 10.10 | BV/Share | 523 | |||||
| 5Y Average FCF | ₹-82B | -159.9% (-117.5%) | |||||||||
| 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 (4.0%) | ||||||||||
| 2026 | ₹-86B | MBG Intrinsic Value | ₹1,094 | ||||||||
| 2027 | ₹-89B | ||||||||||
| 2028 | ₹-93B | ||||||||||
| 2029 | ₹-96B | ||||||||||
| 2030 | ₹-100B | ||||||||||
| 2031 | ₹-104B | ||||||||||
| Terminal Value | ₹-2,168B | Net Worth/Share | ₹732 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | ₹-1,852B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | ₹49B | ₹-2,136 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | ₹797B | WACC | 7.3% | -1,955 | -2,051 | -2,168 | -2,312 | -2,493 | |||
| Equity Value | ₹-2,600B | 7.4% | -1,943 | -2,038 | -2,152 | -2,293 | -2,469 | ||||
| Shares Outstanding | 1,217,010,048 | 7.4% | -1,932 | -2,025 | -2,136 | -2,274 | -2,445 | ||||
| 7.9% | -1,828 | -1,904 | -1,995 | -2,104 | -2,238 | ||||||
| DCF Intrinsic Value | ₹-2,136 | 8.4% | -1,739 | -1,803 | -1,878 | -1,966 | -2,073 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||