| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| DEVIT | ADSL | DSSL | MASTEK | CYIENT | | 544235 | |
| NSEI:DEVIT | NSEI:ADSL | NSEI:DSSL | NSEI:MASTEK | NSEI:CYIENT | | BSE:544235 | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 16.6% | 23.4% | 26.9% | 24.2% | 9.1% | | NM- | |
| 3Y CAGR | 24.6% | 24.3% | 33.0% | 21.1% | 20.0% | | 34.6% | |
| Latest Twelve Months | -1.1% | 15.2% | 26.0% | 11.6% | 3.9% | | NM | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 4.8% | 8.8% | 5.6% | 16.6% | 12.1% | | 7.6% | |
| Prior Fiscal Year | 4.6% | 10.8% | 6.6% | 15.3% | 12.4% | | 8.8% | |
| Latest Fiscal Year | 7.6% | 9.8% | 7.5% | 13.8% | 14.5% | | 8.8% | |
| Latest Twelve Months | 6.9% | 8.9% | 7.7% | 13.6% | 12.4% | | 8.1% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 1.66x | 1.28x | 1.08x | 2.10x | 1.86x | | 1.76x | |
| EV / LTM EBIT | 24.2x | 14.4x | 14.0x | 15.5x | 14.9x | | 21.7x | |
| Price / LTM Sales | 1.54x | 1.36x | 1.08x | 2.03x | 1.92x | | 1.94x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 1.08x | 1.66x | 2.10x | | | | | |
| Historical EV / LTM Revenue | 0.00x | NM | 0.00x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 1.76x | 1.85x | 1.95x | | | | | |
| (x) LTM Revenue | 7,599 | 7,599 | 7,599 | | | | | |
| (=) Implied Enterprise Value | 13,390 | 14,095 | 14,800 | | | | | |
| (-) Non-shareholder Claims * | 1,380 | 1,380 | 1,380 | | | | | |
| (=) Equity Value | 14,770 | 15,475 | 16,180 | | | | | |
| (/) Shares Outstanding | 41.6 | 41.6 | 41.6 | | | | | |
| Implied Value Range | 354.69 | 371.62 | 388.54 | | | | | |
| FX Rate: INR/INR | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 354.69 | 371.62 | 388.54 | | 355.30 | | | |
| Upside / (Downside) | -0.2% | 4.6% | 9.4% | | | | | |