| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| HISARMETAL | JINDALSAW | QFIL | RATNAMANI | KSL | | JSL | |
| NSEI:HISARMETAL | NSEI:JINDALSAW | NSEI:QFIL | NSEI:RATNAMANI | NSEI:KSL | | NSEI:JSL | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 3.0% | 11.6% | NM- | 12.9% | 6.9% | | 23.3% | |
| 3Y CAGR | 16.4% | 25.3% | 7.7% | 30.1% | 18.2% | | 46.8% | |
| Latest Twelve Months | 3.0% | 2.4% | -7.7% | -1.9% | 1.3% | | -0.8% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 6.9% | 8.7% | 2.7% | 14.4% | 15.2% | | 8.9% | |
| Prior Fiscal Year | 7.4% | 6.4% | 2.9% | 15.5% | 12.1% | | 7.8% | |
| Latest Fiscal Year | 5.8% | 12.5% | 2.6% | 15.8% | 15.8% | | 9.4% | |
| Latest Twelve Months | 4.4% | 13.6% | 1.8% | 13.3% | 14.7% | | 9.1% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.71x | 1.01x | 0.44x | 3.82x | 1.65x | | 1.38x | |
| EV / LTM EBIT | 16.0x | 7.4x | 24.1x | 28.6x | 11.2x | | 15.2x | |
| Price / LTM Sales | 0.45x | 0.82x | 0.15x | 3.79x | 1.70x | | 1.26x | |
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| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.44x | 1.01x | 3.82x | | | | | |
| Historical EV / LTM Revenue | 0.34x | 0.73x | 1.58x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 1.16x | 1.23x | 1.29x | | | | | |
| (x) LTM Revenue | 385,679 | 385,679 | 385,679 | | | | | |
| (=) Implied Enterprise Value | 449,209 | 472,851 | 496,494 | | | | | |
| (-) Non-shareholder Claims * | (43,520) | (43,520) | (43,520) | | | | | |
| (=) Equity Value | 405,689 | 429,332 | 452,974 | | | | | |
| (/) Shares Outstanding | 823.8 | 823.8 | 823.8 | | | | | |
| Implied Value Range | 492.48 | 521.18 | 549.88 | | | | | |
| FX Rate: INR/INR | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 492.48 | 521.18 | 549.88 | | 581.95 | | | |
| Upside / (Downside) | -15.4% | -10.4% | -5.5% | | | | | |