PGPGlass
Valuation
| Valuation | Rs.Million | Price per Share (Rs.) | Share | Adjusted Valuation | |
|---|---|---|---|---|---|
| DCF Valuation | % | ||||
| Price to Earnings | % | ||||
| Price to Book Value | % | ||||
| Price to Sales | % | ||||
| EV to EBITDA | % | ||||
| Blended Valuation (Rs.) |
| Options | Checkbox | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Rs. Millions | FY21 | FY22 | FY23 | FY24 | 1Q25 | FY25E | FY26E | FY27E | FY28E | FY29E | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | 8,531.8 | 10,229.0 | 20,067.3 | 17,823.5 | 4,118.0 | |||||||
| YoY% | 0 | 19.9 | 96.2 | -11.2 | 0.8 |
| Rs. Millions | FY21 | FY22 | FY23 | FY24 | 1Q25 | FY25E | FY26E | FY27E | FY28E | FY29E | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Local Sales - In House Production | 5,294.4 | 6,787.3 | 13,345.2 | 11,336.8 | 0.0 | ||||||
| - YoY% | 0 | 0 | 96.6 | -15.1 | 0 | |||||||
| SC01 | Local Sales - In House Production | 5,294.4 | 6,787.3 | 13,345.2 | 11,336.8 | |||||||
| LY YoY% | 0 | 0 | 96.6 | -15.1 | -15.1 | -15.1 | -15.1 | -15.1 | -15.1 | |||
| SC02 | Local Sales - In House Production | 5,294.4 | 6,787.3 | 13,345.2 | 11,336.8 | |||||||
| LY YoY% | 0 | 0 | 96.6 | -15.1 | ||||||||
| SC03 | Local Sales - In House Production | 5,294.4 | 6,787.3 | 13,345.2 | 11,336.8 | |||||||
| LY YoY% | 0 | 0 | 96.6 | -15.1 |
| 2 | Local Sales - Trading | 590.0 | 482.8 | 667.6 | 608.0 | 0.0 | ||||||
| - YoY% | 0 | 0 | 38.3 | -8.9 | 0 | |||||||
| SC01 | Local Sales - Trading | 590.0 | 482.8 | 667.6 | 608.0 | |||||||
| LY YoY% | 0 | 0 | 38.3 | -8.9 | -8.9 | -8.9 | -8.9 | -8.9 | -8.9 | |||
| SC02 | Local Sales - Trading | 590.0 | 482.8 | 667.6 | 608.0 | |||||||
| LY YoY% | 0 | 0 | 38.3 | -8.9 | ||||||||
| SC03 | Local Sales - Trading | 590.0 | 482.8 | 667.6 | 608.0 | |||||||
| LY YoY% | 0 | 0 | 38.3 | -8.9 |
| 3 | Export Sales - In House Production | 2,646.3 | 2,958.2 | 6,053.5 | 5,868.5 | 0.0 | ||||||
| - YoY% | 0 | 0 | 0.1 | -0.0 | 0 | |||||||
| SC01 | Export Sales - In House Production | 2,646.3 | 2,958.2 | 6,053.5 | 5,868.5 | |||||||
| LY YoY% | 0 | 0 | 0.1 | -0.0 | -0.0 | -0.0 | -0.0 | -0.0 | -0.0 | |||
| SC02 | Export Sales - In House Production | 2,646.3 | 2,958.2 | 6,053.5 | 5,868.5 | |||||||
| LY YoY% | 0 | 0 | 0.1 | -0.0 | ||||||||
| SC03 | Export Sales - In House Production | 2,646.3 | 2,958.2 | 6,053.5 | 5,868.5 | |||||||
| LY YoY% | 0 | 0 | 0.1 | -0.0 |
| 4 | Export Sales - Trading | 1.0 | 0.8 | 1.0 | 10.2 | 0.0 | ||||||
| - YoY% | 0 | 0 | 0.0 | 0.9 | 0 | |||||||
| SC01 | Export Sales - Trading | 1.0 | 0.8 | 1.0 | 10.2 | |||||||
| LY YoY% | 0 | 0 | 0.0 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | |||
| SC02 | Export Sales - Trading | 1.0 | 0.8 | 1.0 | 10.2 | |||||||
| LY YoY% | 0 | 0 | 0.0 | 0.9 | ||||||||
| SC03 | Export Sales - Trading | 1.0 | 0.8 | 1.0 | 10.2 | |||||||
| LY YoY% | 0 | 0 | 0.0 | 0.9 |
| 5 | nan | nan | nan | nan | nan | nan | ||||||
| nan | nan | nan | nan | nan | nan | |||||||
| SC01 | nan | nan | nan | nan | nan | |||||||
| LY YoY% | nan | nan | nan | nan | nan | nan | nan | nan | nan | |||
| SC02 | nan | nan | nan | nan | nan | |||||||
| LY YoY% | nan | nan | nan | nan | ||||||||
| SC03 | nan | nan | nan | nan | nan | |||||||
| LY YoY% | nan | nan | nan | nan |
| 6 | nan | nan | nan | nan | nan | nan | ||||||
| nan | nan | nan | nan | nan | nan | |||||||
| SC01 | nan | nan | nan | nan | nan | |||||||
| LY YoY% | nan | nan | nan | nan | nan | nan | nan | nan | nan | |||
| SC02 | nan | nan | nan | nan | nan | |||||||
| LY YoY% | nan | nan | nan | nan | ||||||||
| SC03 | nan | nan | nan | nan | nan | |||||||
| LY YoY% | nan | nan | nan | nan |
| Std vs. Cus. Revenue | 8,531.8 | 10,229.0 | 20,067.3 | 17,823.5 | |||||||
| SC01 | S01Total Revenue | 8,531.8 | 10,229.0 | 20,067.3 | 17,823.5 | ||||||
| SC02 | S02Total Revenue | 8,531.8 | 10,229.0 | 20,067.3 | 17,823.5 | ||||||
| SC03 | S03Total Revenue | 8,531.8 | 10,229.0 | 20,067.3 | 17,823.5 |
| Checkbox Selection Revenue |
| Rs. Millions | FY21 | FY22 | FY23 | FY24 | 1Q25 | 9M FY25E | FY25E | FY26E | FY27E | FY28E | FY29E | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Customised Revenue | 8,531.8 | 10,229.0 | 20,067.3 | 17,823.5 | 4,118.0 | ||||||||
| YoY% | 0 | 19.9 | 96.2 | -11.2 | 0.8 |
| Rs. Millions | FY21 | FY22 | FY23 | FY24 | 1Q25 | 9M FY25E | FY25E | FY26E | FY27E | FY28E | FY29E | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Local Sales - In House Production | ||||||||||||
| Revenue - In House Production | |||||||||||||
| Local Sales - In House Production | 5,294.4 | 6,787.3 | 13,345.2 | 11,336.8 | |||||||||
| Export Sales - In House Production | 2,646.3 | 2,958.2 | 6,053.5 | 5,868.5 | |||||||||
| Total In House Production Revenue | 7,940.8 | 9,745.5 | 19,398.7 | 17,205.3 | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| Packed Glass production (MT) | 78,425.0 | 92,020.0 | 88,621.0 | 86,290.0 | |||||||||
| YoY% | |||||||||||||
| Revenue per tonne | 101,252.8 | 105,906.2 | 218,895.3 | 199,389.1 | |||||||||
| YoY% | |||||||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| Segment Revenue | 7,940.8 | 9,745.5 | 19,398.7 | 17,205.3 | |||||||||
| YoY% |
| Rs. Millions | FY21 | FY22 | FY23 | FY24 | 1Q25 | 9M FY25E | FY25E | FY26E | FY27E | FY28E | FY29E | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2 | Local Sales - Trading | ||||||||||||
| Revenue - Trading Revenue | |||||||||||||
| Local Sales - Trading | 590.0 | 482.8 | 667.6 | 608.0 | |||||||||
| Export Sales - Trading | 1.0 | 0.8 | 1.0 | 10.2 | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| Total Trading Revenue | 591.1 | 483.5 | 668.6 | 618.2 | |||||||||
| YoY% | |||||||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| per tonne | 1.0 | 1.0 | 1.0 | 1.0 | |||||||||
| YoY% | |||||||||||||
| Segment Revenue | 591.1 | 483.5 | 668.6 | 618.2 | |||||||||
| YoY% |
| Rs. Millions | FY21 | FY22 | FY23 | FY24 | 1Q25 | 9M FY25E | FY25E | FY26E | FY27E | FY28E | FY29E | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 3 | Export Sales - In House Production | ||||||||||||
| nan | |||||||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| YoY% | |||||||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| nan | nan | nan | nan | nan | |||||||||
| YoY% | |||||||||||||
| Segment Revenue | nan | nan | nan | nan | |||||||||
| YoY% |
| Rs. Millions | FY21 | FY22 | FY23 | FY24 | 1Q25 | 9M FY25E | FY25E | FY26E | FY27E | FY28E | FY29E | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 4 | Export Sales - Trading | ||||||||||||
| nan | nan | nan | nan | nan | |||||||||
| YoY% | |||||||||||||
| nan | nan | nan | nan | nan | |||||||||
| YoY% | |||||||||||||
| Segment Revenue | 1.0 | 0.8 | 1.0 | 10.2 | 0.0 | ||||||||
| YoY% |
| Rs. Millions | FY21 | FY22 | FY23 | FY24 | FY25E | FY26E | FY27E | FY28E | FY29E | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 5 | |||||||||||
| YoY% | |||||||||||
| YoY% | |||||||||||
| Segment Revenue | |||||||||||
| YoY% |
| Rs. Millions | FY21 | FY22 | FY23 | FY24 | FY25E | FY26E | FY27E | FY28E | FY29E | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 6 | |||||||||||
| YoY% | |||||||||||
| YoY% | |||||||||||
| Segment Revenue | |||||||||||
| YoY% |
| Rs. Millions | FY21 | FY22 | FY23 | FY24 | 1Q25 | FY25E | FY26E | FY27E | FY28E | FY29E | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Excise Duty | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||
| - As a % of sales | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||||
| SC01 | Excise Duty | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||
| - As a % of sales | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||
| SC02 | Excise Duty | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||
| - As a % of sales | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||||
| SC03 | Excise Duty | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||
| -As a % of Sales | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||||
| Excise Duty selection | ||||||||||||
| Excise Duty % selection |
| Rs. Millions | FY21 | FY22 | FY23 | FY24 | 1Q25 | FY25E | FY26E | FY27E | FY28E | FY29E | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Cost of Sales | 6,619.6 | 7,423.6 | 14,512.8 | 12,548.4 | 3,020.2 | ||||||
| Depreciation | 786.2 | 730.6 | 734.2 | 747.2 | 184.9 | |||||||
| Depreciation in COGS | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Amortisation of Right of Use Assets in COGS | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Amortisation of Intangible Assets in COGS | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Cost of Sales net of Depreciation | 5,833.4 | 6,693.0 | 13,778.6 | 11,801.2 | 2,835.3 | |||||||
| - As a % of sales | 68.4% | 65.4% | 68.7% | 66.2% | 68.9% | |||||||
| SC01 | COGS | 6,619.6 | 7,423.6 | 14,512.8 | 12,548.4 | 3,020.2 | ||||||
| Depreciation | 786.2 | 730.6 | 734.2 | 747.2 | 184.9 | |||||||
| Depreciation in COGS | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Amortisation of Right of Use Assets in COGS | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Amortisation of Intangible Assets in COGS | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| COGS | 5,833.4 | 6,693.0 | 13,778.6 | 11,801.2 | 2,835.3 | |||||||
| - As a % of sales | 68.4% | 65.4% | 68.7% | 66.2% | 68.9% | 66.2% | 66.2% | 66.2% | 66.2% | 66.2% | ||
| SC02 | COGS | 6,619.6 | 7,423.6 | 14,512.8 | 12,548.4 | 3,020.2 | ||||||
| Depreciation | 786.2 | 730.6 | 734.2 | 747.2 | 184.9 | |||||||
| Depreciation in COGS | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Amortisation of Right of Use Assets in COGS | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Amortisation of Intangible Assets in COGS | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| COGS | 5,833.4 | 6,693.0 | 13,778.6 | 11,801.2 | 2,835.3 | |||||||
| - As a % of sales | 68.4% | 65.4% | 68.7% | 66.2% | 68.9% | 66.8% | 66.8% | 66.8% | 66.8% | 66.8% | ||
| SC03 | COGS | 6,619.6 | 7,423.6 | 14,512.8 | 12,548.4 | 3,020.2 | ||||||
| Depreciation | 786.2 | 730.6 | 734.2 | 747.2 | 184.9 | |||||||
| Depreciation in COGS | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Amortisation of Right of Use Assets in COGS | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Amortisation of Intangible Assets in COGS | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| COGS | 5,833.4 | 6,693.0 | 13,778.6 | 11,801.2 | 2,835.3 | |||||||
| - As a % of sales | 68.4% | 65.4% | 68.7% | 66.2% | 68.9% | |||||||
| COGS selection | ||||||||||||
| COGS% selection |
| 2 | Administration Expenses | 388.7 | 230.4 | 840.9 | 964.4 | 158.0 | ||||||
| Amortisation of Intangible Assets | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Depreciation in Admin. | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Amortisation of Right of Use Assets in Admin. | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Amortisation of Intangible Assets in Admin. | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Administration Expenses Net of Amortisation of Intangible Assets | 388.7 | 230.4 | 840.9 | 964.4 | 158.0 | |||||||
| - As a % of sales | 4.6% | 2.3% | 4.2% | 5.4% | 3.8% | |||||||
| SC01 | Administration Expenses | 388.7 | 230.4 | 840.9 | 964.4 | 158.0 | ||||||
| Amortisation of Intangible Assets | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| SC01 | Depreciation in Admin. | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||
| Amortisation of Right of Use Assets in Admin. | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Amortisation of Intangible Assets in Admin. | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Administration | 388.7 | 230.4 | 840.9 | 964.4 | 158.0 | |||||||
| - As a % of sales | 4.6% | 2.3% | 4.2% | 5.4% | 3.8% | 5.4% | 5.4% | 5.4% | 5.4% | 5.4% | ||
| SC02 | Administration Expenses | 388.7 | 230.4 | 840.9 | 964.4 | 158.0 | ||||||
| Amortisation of Intangible Assets | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Depreciation in Admin. | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Amortisation of Right of Use Assets in Admin. | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Amortisation of Intangible Assets in Admin. | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Administration | 388.7 | 230.4 | 840.9 | 964.4 | 158.0 | |||||||
| - As a % of sales | 4.6% | 2.3% | 4.2% | 5.4% | 3.8% | 4.0% | 4.0% | 4.0% | 4.0% | 4.0% | ||
| SC03 | Administration Expenses | 388.7 | 230.4 | 840.9 | 964.4 | 158.0 | ||||||
| Amortisation of Intangible Assets | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Depreciation in Admin. | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Amortisation of Right of Use Assets in Admin. | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Amortisation of Intangible Assets in Admin. | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Administration | 388.7 | 230.4 | 840.9 | 964.4 | 158.0 | |||||||
| - As a % of sales | 4.6% | 2.3% | 4.2% | 5.4% | 3.8% | |||||||
| Admin selection |
| Selling & Distribution Expenses | 175.5 | 205.8 | 520.4 | 474.6 | 126.0 | |||||||
| Amortisation of Right of Use Assets | 6.6 | 4.5 | 2.8 | 2.8 | 0.7 | |||||||
| Depreciation in S&D | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Amortisation of Right of Use Assets in S&D | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Amortisation of Intangible Assets in S&D | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Selling & Distribution Expenses Net of Amortisation of Intangible Assets | 168.9 | 201.3 | 517.6 | 471.8 | 125.3 | |||||||
| - As a % of sales | 2.0% | 2.0% | 2.6% | 2.6% | 3.0% | |||||||
| SC01 | S&D | 175.5 | 205.8 | 520.4 | 474.6 | 126.0 | ||||||
| Amortisation of Right of Use Assets | 6.6 | 4.5 | 2.8 | 6.6 | 0.7 | |||||||
| Depreciation in S&D | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Amortisation of Right of Use Assets in S&D | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Amortisation of Intangible Assets in S&D | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Selling & Distribution | 168.9 | 201.3 | 517.6 | 471.8 | 125.3 | |||||||
| - As a % of sales | 2.0% | 2.0% | 2.6% | 2.6% | 3.0% | 2.6% | 2.6% | 2.6% | 2.6% | 2.6% | ||
| SC02 | s&D | 175.5 | 205.8 | 520.4 | 474.6 | 126.0 | ||||||
| Amortisation of Right of Use Assets | 6.6 | 4.5 | 2.8 | 6.6 | 0.7 | |||||||
| Depreciation in S&D | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Amortisation of Right of Use Assets in S&D | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Amortisation of Intangible Assets in S&D | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| SC02 | Selling & Distribution | 168.9 | 201.3 | 517.6 | 471.8 | 125.3 | ||||||
| SC02 | - As a % of sales | 2.0% | 2.0% | 2.6% | 2.6% | 3.0% | 2.4% | 2.4% | 2.4% | 2.4% | 2.4% | |
| SC03 | S&D | 175.5 | 205.8 | 520.4 | 474.6 | 126.0 | ||||||
| Amortisation of Right of Use Assets | 6.6 | 4.5 | 2.8 | 6.6 | 0.7 | |||||||
| Depreciation in S&D | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Amortisation of Right of Use Assets in S&D | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Amortisation of Intangible Assets in S&D | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| SC03 | Selling & Distribution | 168.9 | 201.3 | 517.6 | 471.8 | 125.3 | ||||||
| - As a % of sales | 2.0% | 2.0% | 2.6% | 2.6% | 3.0% | |||||||
| Sd selection |
| 4 | Capital Expenditure | 378.9 | 279.7 | 326.9 | 552.7 | 85.9 | |||||||
| - As a % of sales | 4.4% | 2.7% | 1.6% | 3.1% | 2.1% | ||||||||
| SC01 | Capital Expenditure | 378.9 | 279.7 | 326.9 | 552.7 | 85.9 | |||||||
| - As a % of sales | 4.4% | 2.7% | 1.6% | 3.1% | 3.1% | 3.1% | 3.1% | 3.1% | 3.1% | ||||
| SC02 | Capital Expenditure | 378.9 | 279.7 | 326.9 | 552.7 | 85.9 | |||||||
| - As a % of sales | 4.4% | 2.7% | 1.6% | 3.1% | 2.5% | 2.5% | 2.5% | 2.5% | 2.5% | ||||
| SC03 | Capital Expenditure | 378.9 | 279.7 | 326.9 | 552.7 | 85.9 | |||||||
| - As a % of sales | 4.4% | 2.7% | 1.6% | 3.1% | |||||||||
| Capex selection |
| Fixed Assets - Cost (Rs. Millions) | FY21 | FY22 | FY23 | FY24E | 1Q25 | 9M FY25E | FY25E | FY26E | FY27E | FY28E | FY29E | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Balance B/F | 11,512.1 | 11,827.5 | 12,086.7 | 12,380.3 | 12,932.6 | 13,018.5 | 12,932.6 | |||||||
| Capital Expenditure | 378.9 | 279.7 | 326.9 | 85.9 | |||||||||||
| Adjustments | -63.6 | -20.5 | -33.3 | -0.4 | 0.0 | 0.0 | |||||||||
| Balance C/F | 11,827.5 | 12,086.7 | 12,380.3 | 12,932.6 | 13,018.5 | ||||||||||
| SC01 | Balance B/F | 11,512.1 | 11,827.5 | 12,086.7 | 12,380.3 | 12,932.6 | 13,018.5 | 12,932.6 | |||||||
| Capital Expenditure | 378.9 | 279.7 | 326.9 | 552.7 | 85.9 | ||||||||||
| Adjustments | -63.6 | -20.5 | -33.3 | -0.4 | 0.0 | 0.0 | |||||||||
| Balance C/F | 11,827.5 | 12,086.7 | 12,380.3 | 12,932.6 | 13,018.5 | ||||||||||
| SC02 | Balance B/F | 11,512.1 | 11,827.5 | 12,086.7 | 12,380.3 | 12,932.6 | 13,018.5 | 12,932.6 | |||||||
| Capital Expenditure | 378.9 | 279.7 | 326.9 | 552.7 | 85.9 | ||||||||||
| Adjustments | -63.6 | -20.5 | -33.3 | -0.4 | 0.0 | 0.0 | |||||||||
| Balance C/F | 11,827.5 | 12,086.7 | 12,380.3 | 12,932.6 | 13,018.5 | ||||||||||
| SC03 | Balance B/F | 11,512.1 | 11,827.5 | 12,086.7 | 12,380.3 | 12,932.6 | 13,018.5 | 12,932.6 | |||||||
| Capital Expenditure | 378.9 | 279.7 | 326.9 | 552.7 | 85.9 | ||||||||||
| Adjustments | -63.6 | -20.5 | -33.3 | -0.4 | 0.0 | 0.0 | |||||||||
| Balance C/F | 11,827.5 | 12,086.7 | 12,380.3 | 12,932.6 | 13,018.5 |
| 1.1 | Depreciation (Rs. Millions) | FY21 | FY22 | FY23 | FY24 | 1Q25E | 9M FY25E | FY25E | FY26E | FY27E | FY28E | FY29E | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance B/F | 4,974.4 | 5,696.9 | 6,407.2 | 7,108.1 | 7,854.9 | 8,039.8 | 7,854.9 | ||||||
| Depreciation charge | 786.2 | 730.6 | 734.2 | 747.2 | 184.9 | ||||||||
| - As a % of sales | 9.2% | 7.1% | 3.7% | 4.2% | 4.5% | ||||||||
| Balance C/F | 5,696.9 | 6,407.2 | 7,108.1 | 7,854.9 | 8,039.8 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Adjustments | nan | nan | nan | nan | nan | nan | |||||||
| Net Book Value at end | 6,130.5 | 5,679.5 | 5,272.2 | 5,077.7 | 4,978.8 | ||||||||
| SC01 | Balance B/F | 4,974.4 | 5,696.9 | 6,407.2 | 7,108.1 | 7,854.9 | 8,039.8 | 7,854.9 | |||||
| SC01 | Depreciation charge | 786.2 | 730.6 | 734.2 | 747.2 | 184.9 | |||||||
| - As a % of sales | 9.2% | 7.1% | 3.7% | 4.2% | 4.5% | 4.2% | 4.2% | 4.2% | 4.2% | 4.2% | |||
| Balance C/F | 5,696.9 | 6,407.2 | 7,108.1 | 7,854.9 | 8,039.8 | ||||||||
| Adjustments | nan | nan | nan | nan | nan | nan | |||||||
| Net Book Value at end | 6,130.5 | 5,679.5 | 5,272.2 | 5,077.7 | 4,978.8 | ||||||||
| SC02 | Balance B/F | 4,974.4 | 5,696.9 | 6,407.2 | 7,108.1 | 7,854.9 | 8,039.8 | 7,854.9 | |||||
| SC02 | Depreciation charge | 786.2 | 730.6 | 734.2 | 747.2 | 184.9 | |||||||
| - As a % of sales | 9.2% | 7.1% | 3.7% | 4.2% | 4.5% | ||||||||
| Balance C/F | 5,696.9 | 6,407.2 | 7,108.1 | 7,854.9 | 8,039.8 | ||||||||
| Adjustments | nan | nan | nan | nan | nan | nan | |||||||
| Net Book Value at end | 6,130.5 | 5,679.5 | 5,272.2 | 5,077.7 | 4,978.8 | ||||||||
| SC03 | Balance B/F | 4,974.4 | 5,696.9 | 6,407.2 | 7,108.1 | 7,854.9 | 8,039.8 | 7,854.9 | |||||
| SC03 | Depreciation charge | 786.2 | 730.6 | 734.2 | 747.2 | 184.9 | |||||||
| - As a % of sales | 9.2% | 7.1% | 3.7% | 4.2% | 4.5% | ||||||||
| Balance C/F | 5,696.9 | 6,407.2 | 7,108.1 | 7,854.9 | 8,039.8 | ||||||||
| Adjustments | nan | nan | nan | nan | nan | nan | |||||||
| Net Book Value at end | 6,130.5 | 5,679.5 | 5,272.2 | 5,077.7 | 4,978.8 | ||||||||
| SELECT | Depreciation selection | ||||||||||||
| NBV selection |
| 2 | Working Capital |
|---|
| Rs. Millions | FY21 | FY22 | FY23 | FY24 | 1Q25 | FY25E | FY26E | FY27E | FY28E | FY29E | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2.1 Accounts and notes receivables | 1,688.6 | 2,757.5 | 3,154.7 | 4,210.6 | 3,156.2 | ||||||||||
| - As a % of sales | 19.8 | 27.0 | 15.7 | 23.6 | 17.7 | ||||||||||
| Four Qtr Cum. Revenue | |||||||||||||||
| Four Qtr Cum. COGS | |||||||||||||||
| SC01 | 2.1 Accounts and notes receivables | 1,688.6 | 2,757.5 | 3,154.7 | 4,210.6 | ||||||||||
| - As a % of sales | 19.8 | 27.0 | 15.7 | 23.6 | 23.6 | 23.6 | 23.6 | 23.6 | 23.6 | ||||||
| SC02 | 2.1 Accounts and notes receivables | 1,688.6 | 2,757.5 | 3,154.7 | 4,210.6 | ||||||||||
| - As a % of sales | 19.8 | 27.0 | 15.7 | 23.6 | 22.1 | 22.1 | 22.1 | 22.1 | 22.1 | ||||||
| Four Qtr Cum. Revenue | |||||||||||||||
| SC03 | 2.1 Accounts and notes receivables | 1,688.6 | 2,757.5 | 3,154.7 | 4,210.6 | ||||||||||
| - As a % of sales | 19.8 | 27.0 | 15.7 | 23.6 | |||||||||||
| Four Qtr Cum. COGS | |||||||||||||||
| Debtors selection |
| 2.2 Inventories | 1,860.2 | 2,355.5 | 4,289.9 | 4,807.4 | 4,805.9 | |||||||
| - As a % of COGS | 28.1 | 31.7 | 29.6 | 38.3 | 38.5 | |||||||
| SC01 | 2.2 Inventories | 1,860.2 | 2,355.5 | 4,289.9 | 4,807.4 | |||||||
| - As a % of COGS | 28.1 | 31.7 | 29.6 | 38.3 | 38.3 | 38.3 | 38.3 | 38.3 | 38.3 | |||
| SC02 | 2.2 Inventories | 1,860.2 | 2,355.5 | 4,289.9 | 4,807.4 | |||||||
| - As a % of COGS | 28.1 | 31.7 | 29.6 | 38.3 | 33.2 | 33.2 | 33.2 | 33.2 | 33.2 | |||
| SC03 | 2.2 Inventories | 1,860.2 | 2,355.5 | 4,289.9 | 4,807.4 | |||||||
| - As a % of COGS | 28.1 | 31.7 | 29.6 | 38.3 | ||||||||
| Stocks selection | ||||||||||||
| Stocks share selection |
| 2.3 Prepayments | 11.3 | 13.5 | 26.1 | 29.0 | 51.7 | |||||||
| - As a % of sales | 0.1 | 0.1 | 0.1 | 0.2 | 0.3 | |||||||
| SC01 | 2.3 Prepayments | 11.3 | 13.5 | 26.1 | 29.0 | |||||||
| - As a % of sales | 0.1 | 0.1 | 0.1 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | |||
| SC02 | 2.3 Prepayments | 11.3 | 13.5 | 26.1 | 29.0 | |||||||
| - As a % of sales | 0.1 | 0.1 | 0.1 | 0.2 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | |||
| SC03 | 2.3 Prepayments | 11.3 | 13.5 | 26.1 | 29.0 | |||||||
| - As a % of sales | 0.1 | 0.1 | 0.1 | 0.2 | ||||||||
| Prepayment selection |
| 2.4 Accounts payable | 870.8 | 1,906.0 | 1,556.0 | 1,681.8 | 1,525.4 | |||||||
| - As a % of COGS | 13.2 | 25.7 | 10.7 | 13.4 | 12.2 | |||||||
| SC01 | 2.4 Accounts payable | 870.8 | 1,906.0 | 1,556.0 | 1,681.8 | |||||||
| - As a % of COGS | 13.2 | 25.7 | 10.7 | 13.4 | 13.4 | 13.4 | 13.4 | 13.4 | 13.4 | |||
| SC02 | 2.4 Accounts payable | 870.8 | 1,906.0 | 1,556.0 | 1,681.8 | |||||||
| - As a % of COGS | 13.2 | 25.7 | 10.7 | 13.4 | 16.6 | 16.6 | 16.6 | 16.6 | 16.6 | |||
| SC03 | 2.4 Accounts payable | 870.8 | 1,906.0 | 1,556.0 | 1,681.8 | |||||||
| - As a % of COGS | 13.2 | 25.7 | 10.7 | 13.4 | ||||||||
| Payable selection | ||||||||||||
| Payable Share selection |
| 2.5 Other | |||||||||||||
| - As a % of COGS | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| 2.5 Other | |||||||||||||
| - As a % of COGS | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||
| 2.5 Other | |||||||||||||
| - As a % of COGS | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||
| 2.5 Other | |||||||||||||
| - As a % of COGS | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||
| Other selection | |||||||||||||
| Other Share selection | |||||||||||||
| Working Capital | |||||||||||||
| SC01 Working Capital | |||||||||||||
| SC02 Working Capital | |||||||||||||
| SC03 Working CapitalXXXXX | |||||||||||||
| SC04 & 05 Change in WC | -1,536.2 | 772.8 | |||||||||||
| SC04 & 05 Change in WC - Balance Period | |||||||||||||
| SC01 Change in WC | -1,536.2 | 772.8 | |||||||||||
| SC01 Change in WC - Balance Period | |||||||||||||
| SC02 Change in WC | -1,536.2 | 772.8 | |||||||||||
| SC02 Change in WC - Balance Period | |||||||||||||
| SC03 Change in Working Capital | -1,536.2 | 772.8 | |||||||||||
| SC03 Change in WC - Balance Period | |||||||||||||
| CWC selection | |||||||||||||
| CWC selection - Balance Period |
| 3 | Interest Bearing Debt (Rs. Millions) | FY21 | FY22 | FY23 | FY24 | 1Q25 | 9M FY25E | FY25E | FY26E | FY27E | FY28E | FY29E | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening balance | 1,231.4 | 866.9 | 502.8 | 165.2 | -0.0 | 0.0 | -0.0 | ||||||
| Borrowings | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| Repayments | 364.0 | 364.0 | 337.5 | 165.2 | 0.0 | ||||||||
| Net of Payments | -364.0 | -364.0 | -337.5 | -165.2 | 0.0 | 0.0 | |||||||
| Adjustments | -0.5 | -0.0 | -0.1 | -0.0 | 0.0 | 0.0 | |||||||
| Closing balance | 866.9 | 502.8 | 165.2 | -0.0 | 0.0 | ||||||||
| Current Portion of Long Term Debt | 1,364.5 | 1,261.2 | 623.0 | 0.0 | 0.0 | ||||||||
| Interest Expenses | 269.3 | 159.2 | 330.5 | 97.4 | 1.0 | ||||||||
| Blended Interest Expenses Rate | 0 | 0 | 0 | 0 | 0 | % | % | % | % | % | |||
| SC01 | Opening balance | 1,231.4 | 866.9 | 502.8 | 165.2 | -0.0 | 0.0 | -0.0 | |||||
| Borrowings | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||
| Repayments | 364.0 | 364.0 | 337.5 | 165.2 | 0.0 | ||||||||
| Net of Payments | -364.0 | -364.0 | -337.5 | -165.2 | 0.0 | 0.0 | |||||||
| Adjustments | -0.5 | -0.0 | -0.1 | -0.0 | 0.0 | 0.0 | |||||||
| Closing balance | 866.9 | 502.8 | 165.2 | -0.0 | 0.0 | ||||||||
| Adjustments | -0.5 | -0.0 | -0.1 | -0.0 | 0.0 | 0.0 | |||||||
| Interest Expenses | 269.3 | 159.2 | 330.5 | 97.4 | 1.0 | ||||||||
| Blended Interest Expenses Rate | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| SC02 | Opening balance | 1,231.4 | 866.9 | 502.8 | 165.2 | -0.0 | 0.0 | -0.0 | |||||
| Borrowings | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||
| Repayments | 364.0 | 364.0 | 337.5 | 165.2 | 0.0 | ||||||||
| Net of Payments | -364.0 | -364.0 | -337.5 | -165.2 | 0.0 | ||||||||
| Closing balance | 866.9 | 502.8 | 165.2 | -0.0 | 0.0 | ||||||||
| Adjustments | -0.5 | -0.0 | -0.1 | -0.0 | 0.0 | 0.0 | |||||||
| Interest Expenses | 269.3 | 159.2 | 330.5 | 97.4 | 1.0 | ||||||||
| Blended Interest Expenses Rate | 0 | 0 | 0 | 0 | |||||||||
| SC03 | Opening balance | 1,231.4 | 866.9 | 502.8 | 165.2 | -0.0 | 0.0 | -0.0 | |||||
| Borrowings | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| Repayments | 364.0 | 364.0 | 337.5 | 165.2 | 0.0 | ||||||||
| Net of Payments | -364.0 | -364.0 | -337.5 | -165.2 | 0.0 | 0.0 | |||||||
| Closing balance | 866.9 | 502.8 | 165.2 | -0.0 | 0.0 | ||||||||
| Adjustments | -0.5 | -0.0 | -0.1 | -0.0 | 0.0 | 0.0 | |||||||
| Interest Expenses | 269.3 | 159.2 | 330.5 | 97.4 | 1.0 | ||||||||
| Blended Interest Expenses Rate | 0 | 0 | 0 | 0 | % | % | % | % | % | ||||
| Int. Rate Expense selection | |||||||||||||
| Int. Expense selection | |||||||||||||
| Debt Borrowing selection | |||||||||||||
| Debt Repay selection | |||||||||||||
| Debt NET PAY Selection | |||||||||||||
| Debt Bal BS selection | |||||||||||||
| Current Portion of LT Debt selection | |||||||||||||
| LT Int Exp Rate selection |
| 3.2 | Short Term Debt (Rs. Millions) | FY21 | FY22 | FY23 | FY24 | 1Q25 | 9M FY25E | FY25E | FY26E | FY27E | FY28E | FY29E | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening balance | 1,377.7 | 396.0 | 502.3 | 457.8 | 0.0 | 0.0 | 0.0 | ||||||
| Borrowings | 0.0 | 3,693.0 | 4,512.3 | 5,601.9 | 0.0 | ||||||||
| Repayments | 351.8 | 3,588.0 | 4,535.6 | 6,043.2 | 0.0 | ||||||||
| Net of Payments | -351.8 | 105.0 | -23.3 | -441.3 | 0.0 | ||||||||
| Adjustments | -1.1 | 1.3 | -21.2 | -16.5 | 0.0 | 0.0 | <|||||||
| Closing balance | 1,024.8 | 502.3 | 457.8 | 0.0 | 0.0 | ||||||||
| Interest Expenses | 53.6 | 38.2 | 156.9 | 78.9 | 0.0 | ||||||||
| Blended Interest Expenses Rate | 446.2 | 850.2 | 3268.0 | 3448.9 | nan | % | % | % | % | % |
| SC01 | Opening balance | 1,377.7 | 396.0 | 502.3 | 457.8 | 0.0 | 0.0 | 0.0 | |||||
| Borrowings | 0.0 | 3,693.0 | 4,512.3 | 5,601.9 | 0.0 | 5,601.9 | 5,601.9 | 5,601.9 | 5,601.9 | 5,601.9 | |||
| Repayments | 351.8 | 3,588.0 | 4,535.6 | 6,043.2 | 0.0 | ||||||||
| Net of Payments | -351.8 | 105.0 | -23.3 | -441.3 | 0.0 | ||||||||
| nan | -1.1 | 1.3 | -21.2 | -16.5 | 0.0 | 0.0 | |||||||
| Closing balance | 1,024.8 | 502.3 | 457.8 | 0.0 | 0.0 | ||||||||
| Interest Expenses | 53.6 | 38.2 | 156.9 | 78.9 | 0.0 | ||||||||
| Blended Interest Expenses Rate | 446.2 | 850.2 | 3268.0 | 3448.9 | nan |
| SC02 | Opening balance | 1,377.7 | 396.0 | 502.3 | 457.8 | 0.0 | 0.0 | 0.0 | |||||
| Borrowings | 0.0 | 3,693.0 | 4,512.3 | 5,601.9 | 0.0 | ||||||||
| Repayments | 351.8 | 3,588.0 | 4,535.6 | 6,043.2 | 0.0 | ||||||||
| Net of Payments | -351.8 | 105.0 | -23.3 | -441.3 | 0.0 | ||||||||
| nan | -1.1 | 1.3 | -21.2 | -16.5 | 0.0 | 0.0 | |||||||
| Closing balance | 1,024.8 | 502.3 | 457.8 | 0.0 | 0.0 | ||||||||
| Interest Expenses | 53.6 | 38.2 | 156.9 | 78.9 | 0.0 | ||||||||
| Blended Interest Expenses Rate | 446.2 | 850.2 | 3268.0 | 3448.9 | nan |
| SC03 | Opening balance | 1,377.7 | 396.0 | 502.3 | 457.8 | 0.0 | 0.0 | 0.0 | |||||
| Borrowings | 0.0 | 3,693.0 | 4,512.3 | 5,601.9 | 0.0 | ||||||||
| Repayments | 351.8 | 3,588.0 | 4,535.6 | 6,043.2 | 0.0 | ||||||||
| Net of Payments | -351.8 | 105.0 | -23.3 | -441.3 | 0.0 | ||||||||
| nan | -1.1 | 1.3 | -21.2 | -16.5 | 0.0 | 0.0 | |||||||
| Closing balance | 1,024.8 | 502.3 | 457.8 | 0.0 | 0.0 | ||||||||
| Interest Expenses | 53.6 | 38.2 | 156.9 | 78.9 | 0.0 | ||||||||
| Blended Interest Expenses Rate | 446.2 | 850.2 | 3268.0 | 3448.9 | nan | ||||||||
| Short Term Int. Expense selection | |||||||||||||
| Short Term Debt Bal. Selection |
| 3.3 | Overdraft(Rs. Millions) | FY21 | FY22 | FY23 | FY24 | 1Q25 | 9M FY25E | FY25E | FY26E | FY27E | FY28E | FY29E | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening balance | 98.5 | 128.8 | 145.4 | 5.4 | 33.6 | 17.6 | 33.6 | ||||||
| Borrowings | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| Repayments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | Net of Payments | |||||||
| Adjustments | 30.4 | 16.5 | -140.0 | 28.2 | -16.0 | -16.0 | |||||||
| Closing balance | 128.8 | 145.4 | 5.4 | 33.6 | 17.6 | ||||||||
| Interest Expenses | 2.4 | 2.7 | 123.6 | 9.0 | 0.0 | ||||||||
| Blended Interest Expenses Rate | nan | nan | nan | nan | nan | % | % | % | % | % |
| SC01 | Opening balance | 98.5 | 128.8 | 145.4 | 5.4 | 33.6 | 17.6 | 33.6 | |||||
| Borrowings | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| Repayments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | Net of Payments | |||||||
| Closing balance | 128.8 | 145.4 | 5.4 | 33.6 | 17.6 | ||||||||
| Adjustments | 30.4 | 16.5 | -140.0 | 28.2 | -16.0 | -16.0 | |||||||
| Interest Expenses | 2.4 | 2.7 | 123.6 | 9.0 | 0.0 | ||||||||
| Blended Interest Expenses Rate | nan | nan | nan | nan | nan |
| SC02 | Opening balance | 98.5 | 128.8 | 145.4 | 5.4 | 33.6 | 17.6 | 33.6 | |||||
| Borrowings | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| Repayments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | Net of Payments | |||||||
| Closing balance | 128.8 | 145.4 | 5.4 | 33.6 | 17.6 | ||||||||
| Adjustments | 30.4 | 16.5 | -140.0 | 28.2 | -16.0 | -16.0 | |||||||
| Interest Expenses | 2.4 | 2.7 | 123.6 | 9.0 | 0.0 | ||||||||
| Blended Interest Expenses Rate | nan | nan | nan | nan | nan |
| SC03 | Opening balance | 98.5 | 128.8 | 145.4 | 5.4 | 33.6 | 17.6 | 33.6 | |||||
| Borrowings | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| Repayments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| Net of Payments | |||||||||||||
| Closing balance | 128.8 | 145.4 | 5.4 | 33.6 | 17.6 | ||||||||
| Adjustments | 30.4 | 16.5 | -140.0 | 28.2 | -16.0 | -16.0 | |||||||
| Interest Expenses | 2.4 | 2.7 | 123.6 | 9.0 | 0.0 | ||||||||
| Blended Interest Expenses Rate | nan | nan | nan | nan | nan | ||||||||
| OD Term Int. Expense selection | |||||||||||||
| OD Term Debt Bal. Selection |
| 4 | Interest Expenses (Rs. Millions) | FY21 | FY22 | FY23 | FY24 | 1Q25 | 9M FY25E | FY25E | FY26E | FY27E | FY28E | FY29E | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| LT interest | 209.9 | 115.3 | 47.2 | 6.7 | 0.0 | ||||||||
| Rate | 20.0% | 16.8% | 14.1% | 8.1% | nan% | ||||||||
| ST interest | 53.6 | 38.2 | 156.9 | 78.9 | 0.0 | ||||||||
| Rate | 4.5% | 8.5% | 32.7% | 34.5% | nan% | ||||||||
| OD interest | 2.4 | 2.7 | 123.6 | 9.0 | 0.0 | ||||||||
| Rate | 2.1% | 2.0% | 163.9% | 46.0% | 0.0% | ||||||||
| Lease Interest | 3.4 | 3.0 | 2.9 | 2.8 | 0.0 | ||||||||
| Rate | 9.8% | 9.4% | 9.7% | 10.8% | 0.0% | ||||||||
| Total Interest Expenses | 269.3 | 159.2 | 330.5 | 97.4 | 0.0 |
| 4 | Leases (Rs. Millions) | FY21 | FY22 | FY23 | FY24 | 1Q25 | 9M FY25E | FY25E | FY26E | FY27E | FY28E | FY29E | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Lease - Opening balance | 36.8 | 33.2 | 30.5 | 28.7 | 22.9 | 15.8 | 22.9 | ||||||
| Additions | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| Payments | 7.0 | 5.7 | 4.7 | 8.6 | 7.7 | ||||||||
| Adjustments | 0.0 | 0.0 | 0.0 | 0.0 | 0.7 | 0.7 | |||||||
| Finance expense on lease liabilities | 3.4 | 3.0 | 2.9 | 2.8 | 0.0 | ||||||||
| Average Interest Rate | 9.8 | 9.4 | 9.7 | 10.8 | 0 | ||||||||
| Closing balance | 33.2 | 30.5 | 28.7 | 22.9 | 15.8 | ||||||||
| Lease Liabilities - Current Portion | 8.5 | 6.6 | 6.5 | 6.5 | 5.8 | ||||||||
| SC01 | Lease - Opening balance | 36.8 | 33.2 | 30.5 | 28.7 | 22.9 | 15.8 | 22.9 | |||||
| Additions | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Payments | 7.0 | 5.7 | 4.7 | 8.6 | 7.7 | 8.6 | 8.6 | 8.6 | 8.6 | 8.6 | |||
| Closing balance | 33.2 | 30.5 | 28.7 | 22.9 | 15.8 | ||||||||
| Adjustments | 0.0 | 0.0 | 0.0 | 0.0 | 0.7 | 0.7 | |||||||
| Finance expense on lease liabilities | 3.4 | 3.0 | 2.9 | 2.8 | 0.0 | ||||||||
| Blended Interest Rate (%) | 9.8 | 9.4 | 9.7 | 10.8 | 10.8 | 10.8 | 10.8 | 10.8 | 10.8 | ||||
| SC02 | Lease - Opening balance | 36.8 | 33.2 | 30.5 | 28.7 | 22.9 | 15.8 | 22.9 | |||||
| Additions | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Payments | 7.0 | 5.7 | 4.7 | 8.6 | 7.7 | 8.6 | |||||||
| Adjustments | 0.0 | 0.0 | 0.0 | 0.0 | 0.7 | 0.7 | |||||||
| Closing balance | 33.2 | 30.5 | 28.7 | 22.9 | 15.8 | ||||||||
| Finance expense on lease liabilities | 3.4 | 3.0 | 2.9 | 2.8 | 0.0 | ||||||||
| Blended Interest Rate (%) | 9.8 | 9.4 | 9.7 | 10.8 | |||||||||
| SC03 | Lease - Opening balance | 36.8 | 33.2 | 30.5 | 28.7 | 22.9 | 15.8 | 22.9 | |||||
| Lease Additions | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| Payments | 7.0 | 5.7 | 4.7 | 8.6 | 7.7 | ||||||||
| Adjustments | 0.0 | 0.0 | 0.0 | 0.0 | 0.7 | 0.7 | |||||||
| Closing balance | 33.2 | 30.5 | 28.7 | 22.9 | 15.8 | ||||||||
| Finance expense on lease liabilities | 3.4 | 3.0 | 2.9 | 2.8 | 0.0 | ||||||||
| Blended Interest Rate (%) | 9.8 | 9.4 | 9.7 | 10.8 | % | % | % | % | % | ||||
| Lease Int. Rate selection | |||||||||||||
| Lease Int. selection | |||||||||||||
| Lease Addition Selection | |||||||||||||
| Lease repay selection | |||||||||||||
| Lease bal C/F selection |
| 4.1 | Right of Use Asset (Rs. Millions) | FY21 | FY22 | FY23 | FY24 | 1Q25 | 9M FY25E | FY25E | FY26E | FY27E | FY28E | FY29E | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening balance | 56.2 | 49.6 | 45.2 | 42.4 | 39.6 | 38.9 | 39.6 | ||||||
| Additions | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| Adjustments | 0.0 | 0.0 | 0.0 | -0.0 | 0.0 | 0.0 | |||||||
| Amortisation | 6.6 | 4.5 | 2.8 | 2.8 | 0.7 | ||||||||
| Rate | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| Closing balance | 49.6 | 45.2 | 42.4 | 39.6 | 38.9 | ||||||||
| SC01 | Opening balance | 56.2 | 49.6 | 45.2 | 42.4 | 39.6 | 38.9 | 39.6 | 39.6 | 39.6 | 39.6 | 39.6 | |
| Additions | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||
| Adjustments | 0.0 | 0.0 | 0.0 | -0.0 | 0.0 | 0.0 | |||||||
| Amortisation/Depreciation | 6.6 | 4.5 | 2.8 | 2.8 | 0.7 | ||||||||
| Rate | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||
| Closing balance | 49.6 | 45.2 | 42.4 | 39.6 | 38.9 | ||||||||
| SC02 | Opening balance | 56.2 | 49.6 | 45.2 | 42.4 | 39.6 | 38.9 | 39.6 | 39.6 | 39.6 | 39.6 | 39.6 | |
| Additions | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||
| Adjustments | 0.0 | 0.0 | 0.0 | -0.0 | 0.0 | 0.0 | |||||||
| Amortisation/Depreciation | 6.6 | 4.5 | 2.8 | 2.8 | 0.7 | ||||||||
| Rate | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||
| Closing balance | 49.6 | 45.2 | 42.4 | 39.6 | 38.9 | ||||||||
| SC03 | Opening balance | 56.2 | 49.6 | 45.2 | 42.4 | 39.6 | 38.9 | 39.6 | |||||
| Additions | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | Amortisation/Depreciation | 6.6 | 4.5 | 2.8 | 2.8 | 0.7 | ||
| Adjustments | 0.0 | 0.0 | 0.0 | -0.0 | 0.0 | 0.0 | |||||||
| Closing balance | 49.6 | 45.2 | 42.4 | 39.6 | 38.9 | ||||||||
| rousa addition selection | |||||||||||||
| rousa repay selection | |||||||||||||
| rousa bal C/F selection |
| 5 | Intangible Assets (Rs. Millions) | FY21 | FY22 | FY23 | FY24 | 1Q25 | 9M FY25E | FY25E | FY26E | FY27E | FY28E | FY29E | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening balance | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||
| Additions | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| Adjustments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Amortisation | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| Rate | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| Closing balance | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| SC01 | Opening balance | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |
| Additions | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||
| Adjustments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Amortisation/Depreciation | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| Rate | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||
| Closing balance | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| SC02 | Opening balance | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |
| Additions | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||
| Adjustments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Amortisation/Depreciation | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| Rate | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||
| Closing balance | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| SC03 | Opening balance | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||
| Additions | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | Amortisation/Depreciation | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||
| Adjustments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Closing balance | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| ia addition selection | |||||||||||||
| ia repay selection | |||||||||||||
| ia bal C/F selection |
| 5 | Interest Income (Rs. Millions) | FY21 | FY22 | FY23 | FY24 | 1Q25 | 9M FY25E | FY25E | FY26E | FY27E | FY28E | FY29E | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & CE B/F | 182.7 | 183.0 | 86.6 | 86.6 | |||||||||
| Interest Income | 0.4 | 0.4 | 1.0 | 2.3 | 13.4 | ||||||||
| Blended Interest Income Rate | 0.3 | 0.2 | 0.6 | 2.7 | 0.9 | % | % | % | % | ||||
| SC01 | ii. Interest Income | 0.4 | 0.4 | 1.0 | 2.3 | 13.4 | |||||||
| iii. Blended Interest income rate | 0.3 | 0.2 | 0.6 | 2.7 | 2.7 | 2.7 | 2.7 | 2.7 | 2.7 | ||||
| SC02 | ii. Interest Income | 0.4 | 0.4 | 1.0 | 2.3 | 13.4 | |||||||
| iii. Blended Interest income rate | 0.3 | 0.2 | 0.6 | 2.7 | |||||||||
| SC03 | i. Cash & CE Balance C/F | 182.7 | 183.0 | 86.6 | |||||||||
| ii. Interest Income | 0.4 | 0.4 | 1.0 | 2.3 | 13.4 | ||||||||
| iii. Blended Interest income rate | 0.3 | 0.2 | 0.6 | 2.7 | % | % | % | % | % | ||||
| Int. Income selection | |||||||||||||
| Int. Income Rate selection |
| 6 | Tax (Rs. Millions) | FY21 | FY22 | FY23 | FY24 | 1Q25 | 9M FY25E | FY25E | FY26E | FY27E | FY28E | FY29E | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Profit Before Tax | 1,190.8 | 2,336.0 | 3,960.3 | 3,839.9 | 850.7 | ||||||||
| Tax B/F | -138.5 | 99.5 | 132.8 | 224.0 | 496.8 | 232.8 | 496.8 | ||||||
| Tax Provision for the Year | 238.0 | 379.9 | 846.2 | 853.4 | 162.4 | ||||||||
| Adjustments | -0.0 | -0.0 | -0.0 | 0.0 | 42.1 | 42.1 | |||||||
| Taxes paid (prov. for the previous year) | 0.0 | 346.7 | 754.9 | 580.6 | 468.6 | ||||||||
| Tax C/F | 99.5 | 132.8 | 224.0 | 496.8 | 232.8 | ||||||||
| Tax Rate | 20.0 | 16.3 | 21.4 | 22.2 | 19.1 | % | % | % | % | % | |||
| SC01 | ii. Balance B/F | -138.5 | 99.5 | 132.8 | 224.0 | 224.0 | 232.8 | 496.8 | |||||
| iii. Tax provision for the year | 238.0 | 379.9 | 846.2 | 853.4 | 162.4 | ||||||||
| iv. Taxes paid (provision for the previous year) | 0.0 | 346.7 | 754.9 | 580.6 | 468.6 | 853.4 | |||||||
| Adjustments | -0.0 | -0.0 | -0.0 | 0.0 | 42.1 | 42.1 | |||||||
| v. Balance C/F | 99.5 | 132.8 | 224.0 | 496.8 | 232.8 | ||||||||
| vi. Tax Rate | 20.0 | 16.3 | 21.4 | 22.2 | 22.2 | 22.2 | 22.2 | 22.2 | 22.2 | ||||
| SC02 | ii. Balance B/F | -138.5 | 99.5 | 132.8 | 224.0 | 224.0 | 232.8 | 496.8 | |||||
| iii. Tax provision for the year | 238.0 | 379.9 | 846.2 | 853.4 | 162.4 | ||||||||
| iv. Taxes paid (provision for the previous year) | 0.0 | 346.7 | 754.9 | 580.6 | 468.6 | 853.4 | |||||||
| Adjustments | -0.0 | -0.0 | -0.0 | 0.0 | 42.1 | 42.1 | |||||||
| v. Balance C/F | 99.5 | 132.8 | 224.0 | 496.8 | 232.8 | ||||||||
| vi. Tax Rate | 20.0 | 16.3 | 21.4 | 22.2 | |||||||||
| SC03 | ii. Balance B/F | -138.5 | 99.5 | 132.8 | 224.0 | 224.0 | 232.8 | 496.8 | |||||
| iii. Tax provision for the year | 238.0 | 379.9 | 846.2 | 853.4 | 162.4 | ||||||||
| iv. Taxes paid (provision for the previous year) | 0.0 | 346.7 | 754.9 | 580.6 | 468.6 | 853.4 | |||||||
| Adjustments | -0.0 | -0.0 | -0.0 | 0.0 | 42.1 | 42.1 | |||||||
| v. Balance C/F | 99.5 | 132.8 | 224.0 | 496.8 | 232.8 | ||||||||
| vi. Tax Rate | 20.0 | 16.3 | 21.4 | 22.2 | |||||||||
| Tax prov. selection | |||||||||||||
| Tax paid selection | |||||||||||||
| Tax bal C/F selection | |||||||||||||
| Tax Rate selection | |||||||||||||
| PBT SC 04 & 05 STD VS CUS | |||||||||||||
| PBT SC 01 FLAT RATE | |||||||||||||
| PBT SC 02 AVG RATE | PBT SC 03 FLAT RATE |
| Item | FY25E | FY26E | FY27E | FY28E | FY29E | Your Comments | ||
|---|---|---|---|---|---|---|---|---|
| REVENUE | ||||||||
| 1 | Local Sales - In House Production | - YoY% | ||||||
| 2 | Local Sales - Trading | - YoY% | ||||||
| 3 | Export Sales - In House Production | - YoY% | ||||||
| 4 | Export Sales - Trading | - YoY% | ||||||
| 5 | nan | nan | ||||||
| 6 | nan | nan | ||||||
| 7 | Total Revenue | YoY% | ||||||
| COSTS | ||||||||
| 1 | COGS | - As a % of sales | ||||||
| 2 | Administration | - As a % of sales | ||||||
| 3 | Selling & Distribution | - As a % of sales | ||||||
| 4 | Capital Expenditure | - As a % of sales | ||||||
| OTHER | ||||||||
| 1 | Depreciation charge | - As a % of sales | ||||||
| 2 | 2.1 Accounts and notes receivables | - As a % of sales | ||||||
| 2 | 2.2 Inventories | - As a % of COGS | ||||||
| 2 | 2.3 Prepayments | - As a % of sales | ||||||
| 2 | 2.4 Accounts payable | - As a % of COGS | ||||||
| 2 | 2.5 Other | - As a % of COGS | ||||||
| 3 | Debt Borowwings | Rs. | ||||||
| 3 | Debt Repayments | Rs. | ||||||
| 3 | Blended Interest Rate | % | ||||||
| 4 | Lease Repayments | Rs. | ||||||
| 4 | Lease Interest Rate | % | ||||||
| 5 | Blended Interest Income Rate | % | ||||||
| 6 | Tax Rate | % | ||||||
| 7 | ST Debt Interest Rate | % | ||||||
| 7 | OD Debt Interest Rate | % |
| Income Statement | Notes | FY21 | FY22 | FY23 | FY24 | 1Q25 | 9M FY25E | FY25E | FY26E | FY27E | FY28E | FY29E |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Combined Revenue | 8,531.8 | 10,229.0 | 20,067.3 | 17,823.5 | 4,118.0 | |||||||
| Excise Duty | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| COGS | 6,619.6 | 7,423.6 | 14,512.8 | 12,548.4 | 3,020.2 | |||||||
| Gross Profit | 1,912.2 | 2,805.4 | 5,554.5 | 5,275.1 | 1,097.8 | |||||||
| Other Income | 111.8 | 125.5 | 96.6 | 98.9 | 24.6 | 0 | 24.6 | |||||
| Administration Exp. | 388.7 | 230.4 | 840.9 | 964.4 | 158.0 | |||||||
| Selling & Distribution Exp. | 175.5 | 205.8 | 520.4 | 474.6 | 126.0 | |||||||
| Depreciation | 786.2 | 730.6 | 734.2 | >747.2 | 184.9 | |||||||
| Amortisation | 6.6 | 4.5 | 2.8 | 2.8 | 0.7 | |||||||
| Other Operating Expenses | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||
| Operating Income | 1,459.8 | 2,494.7 | 4,289.8 | 3,935.0 | 838.4 | |||||||
| Interest Expenses | 269.3 | 159.2 | 330.5 | 97.4 | 1.0 | |||||||
| Interest Income | 0.4 | 0.4 | 1.0 | 13.4 | ||||||||
| Other (Expenses)/Income | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||
| Profit Before Tax | 1,190.8 | 2,336.0 | 3,960.3 | 3,839.9 | 850.7 | |||||||
| Tax Expenses | -95.1 | -421.4 | -780.0 | -901.1 | -162.4 | |||||||
| Profit After Tax | 1,095.8 | 1,914.5 | 3,180.3 | 2,938.8 | 688.3 | |||||||
| Other | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||
| Net Income | 1,095.8 | 1,914.5 | 3,180.3 | 688.3 |
| Cash Flow Statement | Forecast Ref. | FY21 | FY22 | FY23 | FY24 | 1Q25 | 9M FY25E | FY25E | FY26E | FY27E | FY28E | FY29E |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Profit Before Tax | From IS | 1,190.8 | 2,336.0 | 3,960.3 | 3,839.9 | 850.7 | ||||||
| Depreciation | From OA 1.1 | 786.2 | 730.6 | 734.2 | 747.2 | 184.9 | ||||||
| Right of Use Asset - Amortisation | 6.6 | 4.5 | 2.8 | 2.8 | 0.7 | |||||||
| Intangible Asset Amortisation | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Change in Working Capital | From OA 2 | -418.5 | -530.6 | -2,841.7 | -1,536.2 | 772.8 | ||||||
| CWC Adjustment | -104.0 | -104.0 | ||||||||||
| Income Tax Paid | From OA 5 | 0.0 | 346.7 | 754.9 | 580.6 | 468.6 | ||||||
| Other | 11.1 | -1.2 | 156.0 | 99.9 | 99.0 | 0 | 99.0 | |||||
| Net Cash Flow from / (used in) Operating Activities | 1,576.2 | 2,192.6 | 1,256.7 | 2,573.0 | 1,439.5 | |||||||
| Capital Expenditure | From CA 4 | 378.9 | 279.7 | 326.9 | 552.7 | 85.9 | ||||||
| Acquisition of Right to Use Assets | From CA 4 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||
| Acquisition of Intangible Assets | From CA 4 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||
| Other | 0.7 | -8.8 | -0.5 | 6.9 | 12.8 | 0 | 12.8 | |||||
| Cash Flows from Investing Activities | -378.2 | -288.5 | -327.4 | -545.8 | -73.2 | |||||||
| Borrowings | 6,884.7 | 3,693.0 | 4,512.3 | 5,601.9 | 0.0 | |||||||
| Debt Repayments | 7,964.4 | 4,555.0 | 5,293.5 | 6,208.4 | 0.0 | |||||||
| Net of Borrowings/ Repayments | -364.0 | -364.0 | -337.5 | -165.2 | 0.0 | |||||||
| Adjustments to match published numbers | -16.0 | -16.0 | ||||||||||
| Lease Additions | ||||||||||||
| Lease Repayments | 7.0 | 5.7 | 4.7 | 8.6 | 7.7 | |||||||
| Other | -181.7 | -995.8 | -3.1 | -1,536.7 | -0.0 | 0 | -0.0 | |||||
| Net Cash flows from / (used in) Financing Activities | -1,268.4 | -1,863.6 | -789.1 | -2,151.8 | -7.8 | |||||||
| Other | nan | nan | nan | nan | nan | nan | ||||||
| Net Increase/(Decrease) in Cash and Cash Equivalents | -70.4 | 40.5 | 140.3 | -124.6 | 1,358.6 | |||||||
| Favourable/Unfavourable Balances | 128.8 | 145.4 | 5.4 | 33.6 | 17.6 | |||||||
| Cash and CE at Start | 67.2 | -3.2 | 37.4 | 177.6 | 53.0 | 1,429.2 | 53.0 | |||||
| Cash and CE at End | -3.2 | 37.4 | 177.6 | 53.0 | 1,411.6 |
| Balance Sheet | Notes | FY21 | FY22 | FY23 | FY24 | 1Q25 | 9M FY25E | FY25E | FY26E | FY27E | FY28E | FY29E | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||||
| Property Plant and Equipment - NBV | From OA 1 | 6,130.5 | 5,679.5 | 5,272.2 | 5,077.7 | 4,978.8 | |||||||
| Financial investments | 2.8 | 2.5 | 2.4 | 3.7 | 3.8 | 3.8 | 3.8 | 3.8 | 3.8 | 3.8 | 3.8 | ||
| nan | nan | nan | nan | nan | nan | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||
| Other receivables | nan | nan | nan | nan | nan | ||||||||
| Right of Use Asset | 49.6 | 45.2 | 42.4 | 39.6 | 38.9 | ||||||||
| nan | nan | nan | nan | nan | nan | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||
| Other assets | 0.0 | 4.2 | 4.5 | 0.5 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | ||
| Non Current Assets | 6,183.0 | 5,731.3 | 5,321.5 | 5,121.5 | 5,022.0 | ||||||||
| Inventories | From OA 2.2 | 1,860.2 | 2,355.5 | 4,289.9 | 4,807.4 | 4,805.9 | |||||||
| Trade and Other Receivables | From OA 2.1 | 1,688.6 | 2,757.5 | 3,154.7 | 4,210.6 | 3,156.2 | |||||||
| Prepayments | From OA 2.3 | 11.3 | 13.5 | 26.1 | 29.0 | 51.7 | |||||||
| Other Receivables | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||
| Other Financial Assets | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||
| Income Tax Recoverable | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||
| Cash and Cash Equivalent | From CFS | 125.7 | 182.7 | 183.0 | 86.6 | 1,429.2 | |||||||
| Current Assets | 3,685.7 | 5,309.3 | 7,653.8 | 9,133.6 | 9,443.0 | ||||||||
| Total Assets | 9,868.7 | 11,040.6 | 12,975.3 | 14,465.0 | |||||||||
| Equities and Liabilities | |||||||||||||
| Stated Capital | 1,526.4 | 1,526.4 | 1,526.4 | 1,526.4 | 1,526.4 | 1,526.4 | 1,526.4 | 1,526.4 | 1,526.4 | 1,526.4 | 1,526.4 | ||
| Reserves | 8,080.0 | 101.7 | 101.7 | 102.7 | 104.0 | 104.1 | 104.1 | 104.1 | 104.1 | 104.1 | 104.1 | 104.1 | |
| Retained Earnings | 3,940.5 | 4,897.5 | 8,080.0 | 9,438.0 | 10,126.3 | ||||||||
| Adjustments for Reported Number discprencies | 0.0 | ||||||||||||
| Other | 1,526.4 | 0.0 | |||||||||||
| nan | nan | nan | nan | nan | nan | nan | nan | nan | nan | nan | nan | ||
| Equity Attributable to Equity Holders of Parent | |||||||||||||
| Non-Controlling Interest | nan | nan | nan | nan | nan | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||
| Total Equity | 5,568.6 | 6,530.2 | 9,709.1 | 11,068.4 | 11,756.8 | ||||||||
| Long Term Debt | From OA 3 | 923.2 | 165.2 | 0.0 | 0.0 | 0.0 | |||||||
| Financing and Lease Payables | From OA 4 | 24.7 | 23.9 | 22.2 | 16.4 | 10.0 | |||||||
| Deffered tax liabilities | 621.4 | 671.0 | 606.9 | 652.2 | 610.0 | 610.0 | 610.0 | 610.0 | 610.0 | 610.0 | 610.0 | ||
| Employee benefit liability | 224.2 | 138.6 | 173.2 | 216.0 | 223.2 | 223.2 | 223.2 | 223.2 | 223.2 | 223.2 | 223.2 | ||
| nan | nan | nan | nan | nan | nan | nan | nan | nan | nan | nan | nan | ||
| Non Current Liabilities | 1,793.5 | 998.6 | 802.3 | 884.5 | 843.2 | ||||||||
| Current Maturities of Long Term Debt | 1,364.5 | 1,261.2 | 623.0 | 0.0 | 0.0 | ||||||||
| Trade Payables | From OA 2.4 | 870.8 | 1,906.0 | 1,556.0 | 1,681.8 | 1,525.4 | |||||||
| 13. Amounts due to related parties | nan | nan | nan | nan | nan | nan | nan | nan | nan | nan | nan | ||
| Income Tax Liabilities | From OA 6 | 99.5 | 132.8 | 224.0 | 496.8 | 232.8 | |||||||
| Lease Liabilities | 8.5 | 6.6 | 6.5 | 6.5 | 5.8 | ||||||||
| Other Accruals | From OA 2.5 | ||||||||||||
| Other | 34.3 | 59.8 | 48.9 | 83.5 | 83.4 | 83.4 | 83.4 | 83.4 | 83.4 | 83.4 | 83.4 | ||
| nan | nan | nan | nan | nan | nan | ||||||||
| Bank overdraft | 128.8 | 145.4 | 5.4 | 33.6 | 17.6 | ||||||||
| Bank overdraft | 128.8 | 145.4 | 5.4 | 33.6 | 17.6 | 17.6 | 17.6 | 17.6 | 17.6 | 17.6 | 17.6 | ||
| Current Liabilities | 2,506.6 | 3,511.8 | 2,463.9 | 2,302.2 | 1,865.0 | ||||||||
| Total Equity and Liabilities | 9,868.7 | 11,040.6 | 12,975.3 | 14,255.2 | 14,465.0 | ||||||||
| Check |
DCF Enterprise Value
| Rs. Millions | Notes | Jul - Mar FY25E | FY26E | FY27E | FY28E | FY29E | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. EBIT | From FF 6 | ||||||||||||||
| 2. Tax | From OA 6 | ||||||||||||||
| 3. Depreciation | From OA 1 | ||||||||||||||
| 4. Adjustments | User Input | ||||||||||||||
| 5. Capital Expenditure | From CA 4 | 6. Changes in Working Capital | From OA 2 | ||||||||||||
| 7. Free Cash Flow | |||||||||||||||
| 8. Terminal Value | |||||||||||||||
| 9. Total Free Cash Flow | |||||||||||||||
| 10. Time for discount rate | Calculation | 0.75 | 1.75 | 2.75 | 3.75 | 4.75 | |||||||||
| 10. Discount factor | Calculation | ||||||||||||||
| 11. Present Value of Free Cash Flows | 7*10=11 | ||||||||||||||
| 12. DCF Enterprise Value | |||||||||||||||
| 13. Net (Debt)/Cash | nan | ||||||||||||||
| 14. Pension Underfunding | From BS | ||||||||||||||
| 15. Other | User input cell | ||||||||||||||
| 14. Adjustment | User Input | ||||||||||||||
| 15. DCF Valuation - Equity Value | |||||||||||||||
| 16. Number of Shares | 950.1 | ||||||||||||||
| 17. Price per Share (Rs.) |
Weighted Average Costs of Capital (WACC)
| Symbol | User Input | Reference | Source for Reference | |||
|---|---|---|---|---|---|---|
| 1. Risk Free Rate | Rf | % | 18.8% | SL 10yr bond yield | ||
| 2. Long term cost of debt | Kd | % | 25.0% | Weighted avg. int. rate | ||
| 3. Equity risk premium | Rp | % | 10.0% | External Source | ||
| 4. Beta | B | % | 125.0% | CSE | ||
| 5.Tax Rate | t | % | 30.0% | SL tax rate | ||
| 6. Debt Weighting | Wd | % | 50.0% | |||
| 7. Equity Weighting | We | % | 50.0% | |||
| 8. Cost of Equity | Ke | 1+(3*4)=8 | 25.0% | |||
| 9. WACC | Dr | (6*(2*(1-5)))+(7*8)=9 | 21.0% | |||
| 10. Terminal Growth Rate | % | 5.0% |
| Notes | Price to Earnings | Price to Book Value | Price to Sales | ||
|---|---|---|---|---|---|
| 1. Earnings/Book Value/Sales | 11,068.4 | 2. Adjusted Multiple | 3. Valuation (Rs. Millions) | 1*2=3 | 4. Number of Shares (Millions) | 950.1 | 950.1 | 950.1 | 5. Price per Share(Rs.) |
| Peer Multiples | Notes | Price to Earnings | Price to Book Value | Price to Sales | ||||
|---|---|---|---|---|---|---|---|---|
| Average | ||||||||
| Adjustment | ||||||||
| Adjusted Multiple |
| Date | Research Organisation | Recommendation | Target Price (Rs.) | |
|---|---|---|---|---|
| 0 | 45.158 | 0 | 0 |