Intrinsic Valuation of: TATACOMM
Free Cash Flow Average and Growth over past 5Y Key Statistics
Year FCF FCF (FCF/Revenue)
2021 - - EPS (FY) 37 Market Cap ₹479B
2022 - - (-) P/E Ratio 46 Total Asset ₹284B
2023 ₹29B - (-) Net Income ₹10B Total Debt ₹62B
2024 ₹11B -62.0% (-67.4%) EBITDA ₹50B Total Liab ₹248B
2025 ₹7B -35.9% (-42.3%) Opr Margin 8.05 Debt/Equity 1.69
2026 ₹20B 190.1% (170.3%) PreTax Margin 4.98 BV/Share -77
5Y Average FCF ₹17B 15.0% (20.2%)
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): 7.31% 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 ₹22B MBG Intrinsic Value ₹327
2028 ₹25B
2029 ₹28B
2030 ₹30B
2031 ₹31B
2032 ₹32B
Terminal Value ₹676B Net Worth/Share ₹128
DCF Valuation DCF Valuation "What If" Scenario Table
Enterprise Value ₹573B Growth Rate
(+) Cash & Cash Equivalents ₹6B ₹1,816 1.5% 2.0% 2.5% 3.0% 3.5%
(-) Total Debt ₹62B WACC 6.5% 1,824 2,004 2,229 2,518 2,902
Equity Value ₹517B 7.2% 1,572 1,704 1,864 2,063 2,314
Shares Outstanding 285,000,000 7.9% 1,372 1,472 1,591 1,733 1,908
8.6% 1,213 1,292 1,383 1,490 1,618
DCF Intrinsic Value ₹1,816 9.3% 1,084 1,146 1,218 1,301 1,398
Analyzed by QuantJuice (2025)