| Intrinsic Valuation of: ULTRACEMCO | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2021 | - | - | EPS (FY) | 278 | Market Cap | ₹3,379B | |||||
| 2022 | - | - (-) | P/E Ratio | 41 | Total Asset | ₹1,414B | |||||
| 2023 | ₹29B | - (-) | Net Income | ₹82B | Total Debt | ₹150B | |||||
| 2024 | ₹19B | -34.0% (-41.1%) | EBITDA | ₹174B | Total Liab | ₹607B | |||||
| 2025 | ₹15B | -18.4% (-25.0%) | Opr Margin | 13.98 | Debt/Equity | 0.19 | |||||
| 2026 | ₹56B | 265.1% (213.3%) | PreTax Margin | 11.87 | BV/Share | 1,984 | |||||
| 5Y Average FCF | ₹30B | 15.0% (49.1%) | |||||||||
| 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): | 7.10% | 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 | ₹56B | MBG Intrinsic Value | ₹2,485 | ||||||||
| 2028 | ₹63B | ||||||||||
| 2029 | ₹69B | ||||||||||
| 2030 | ₹74B | ||||||||||
| 2031 | ₹78B | ||||||||||
| 2032 | ₹80B | ||||||||||
| Terminal Value | ₹1,768B | Net Worth/Share | ₹2,744 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | ₹1,498B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | ₹4B | ₹4,595 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | ₹150B | WACC | 6.5% | 4,388 | 4,824 | 5,368 | 6,066 | 6,996 | |||
| Equity Value | ₹1,352B | 7.2% | 3,815 | 4,142 | 4,539 | 5,031 | 5,658 | ||||
| Shares Outstanding | 294,169,635 | 7.8% | 3,360 | 3,612 | 3,913 | 4,276 | 4,723 | ||||
| 8.4% | 2,990 | 3,190 | 3,423 | 3,700 | 4,032 | ||||||
| DCF Intrinsic Value | ₹4,595 | 9.1% | 2,683 | 2,844 | 3,030 | 3,247 | 3,501 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||