| Intrinsic Valuation of: ULTRACEMCO | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 205 | Market Cap | ₹3,592B | |||||
| 2021 | - | - (-) | P/E Ratio | 60 | Total Asset | ₹1,337B | |||||
| 2022 | ₹37B | - (-) | Net Income | ₹60B | Total Debt | ₹158B | |||||
| 2023 | ₹29B | -21.8% (-35.2%) | EBITDA | ₹132B | Total Liab | ₹598B | |||||
| 2024 | ₹19B | -34.0% (-42.0%) | Opr Margin | 0.11 | Debt/Equity | 0.21 | |||||
| 2025 | ₹15B | -18.4% (-23.8%) | PreTax Margin | 9.07 | BV/Share | 1,800 | |||||
| 5Y Average FCF | ₹25B | -24.8% (-33.7%) | |||||||||
| 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 | ₹16B | MBG Intrinsic Value | ₹1,835 | ||||||||
| 2027 | ₹17B | ||||||||||
| 2028 | ₹17B | ||||||||||
| 2029 | ₹18B | ||||||||||
| 2030 | ₹19B | ||||||||||
| 2031 | ₹20B | ||||||||||
| Terminal Value | ₹406B | Net Worth/Share | ₹2,512 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | ₹347B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | ₹5B | ₹659 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | ₹158B | WACC | 7.3% | 518 | 593 | 684 | 795 | 936 | |||
| Equity Value | ₹194B | 7.4% | 509 | 583 | 671 | 780 | 917 | ||||
| Shares Outstanding | 294,148,000 | 7.4% | 501 | 573 | 659 | 766 | 899 | ||||
| 7.9% | 420 | 479 | 550 | 634 | 738 | ||||||
| DCF Intrinsic Value | ₹659 | 8.4% | 351 | 401 | 459 | 528 | 610 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||