Intrinsic Valuation of: RVNL
Free Cash Flow Average and Growth over past 5Y Key Statistics
Year FCF FCF (FCF/Revenue)
2020 - - EPS (FY) 6 Market Cap ₹590B
2021 - - (-) P/E Ratio 51 Total Asset ₹205B
2022 ₹47B - (-) Net Income ₹13B Total Debt ₹49B
2023 ₹-41B -188.2% (-184.3%) EBITDA ₹22B Total Liab ₹109B
2024 ₹26B 163.4% (158.8%) Opr Margin 5.49 Debt/Equity 0.51
2025 ₹14B -44.7% (-39.3%) PreTax Margin 2.78 BV/Share 46
5Y Average FCF ₹12B 2.5% (-21.6%)
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): 9.21% Current US Bond Yield: 3.48%
Forcasting Future Free Cash Flow for next 6Y Modified Benjamin Graham's Intrinsic Value
Year FCF Projection (2.5%)
2026 ₹19B MBG Intrinsic Value ₹49
2027 ₹20B
2028 ₹20B
2029 ₹21B
2030 ₹21B
2031 ₹22B
Terminal Value ₹333B Net Worth/Share ₹46
DCF Valuation DCF Valuation "What If" Scenario Table
Enterprise Value ₹287B Growth Rate
(+) Cash & Cash Equivalents ₹31B ₹129 1.5% 2.0% 2.5% 3.0% 3.5%
(-) Total Debt ₹49B WACC 7.2% 160 173 188 206 230
Equity Value ₹269B 8.2% 135 143 153 165 179
Shares Outstanding 2,085,020,100 9.2% 116 122 129 137 147
10.2% 102 106 111 117 124
DCF Intrinsic Value ₹129 11.2% 91 94 98 102 107
Analyzed by QuantJuice (2025)