Intrinsic Valuation of: TATAELXSI
Free Cash Flow Average and Growth over past 5Y Key Statistics
Year FCF FCF (FCF/Revenue)
2020 - - EPS (FY) 120 Market Cap ₹326B
2021 - - (-) P/E Ratio 44 Total Asset ₹36B
2022 ₹4B - (-) Net Income ₹8B Total Debt ₹0
2023 ₹4B 2.6% (-19.3%) EBITDA ₹12B Total Liab ₹7B
2024 ₹6B 46.2% (29.5%) Opr Margin 0.24 Debt/Equity -
2025 ₹8B 28.7% (22.6%) PreTax Margin 23.64 BV/Share 458
5Y Average FCF ₹6B 25.9% (10.9%)
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 ₹10B MBG Intrinsic Value ₹1,069
2027 ₹12B
2028 ₹16B
2029 ₹19B
2030 ₹24B
2031 ₹30B
Terminal Value ₹631B Net Worth/Share ₹459
DCF Valuation DCF Valuation "What If" Scenario Table
Enterprise Value ₹494B Growth Rate
(+) Cash & Cash Equivalents ₹1B ₹7,958 1.5% 2.0% 2.5% 3.0% 3.5%
(-) Total Debt ₹0 WACC 7.3% 6,922 7,472 8,137 8,955 9,986
Equity Value ₹496B 7.4% 6,857 7,396 8,046 8,845 9,849
Shares Outstanding 62,290,600 7.4% 6,793 7,322 7,958 8,737 9,715
7.9% 6,209 6,646 7,162 7,784 8,545
DCF Intrinsic Value ₹7,958 8.4% 5,711 6,076 6,502 7,007 7,614
Analyzed by QuantJuice (2025)