Teejay
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Rs. Millions | FY21 | FY22 | FY23 | FY24 | 1Q25 | FY25E | FY26E | FY27E | FY28E | FY29E | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | 31,780.3 | 49,588.0 | 84,037.1 | 60,734.0 | 15,392.5 | |||||||
| YoY% | 0 | 56.0 | 164.4 | -27.7 | 10.0 |
| Rs. Millions | FY21 | FY22 | FY23 | FY24 | 1Q25 | FY25E | FY26E | FY27E | FY28E | FY29E | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Textile MFG. - SL | 20,379.8 | 28,568.9 | 48,946.9 | 37,537.0 | 0.0 | ||||||
| - YoY% | 0 | 40.2 | 71.3 | -23.3 | 0 | |||||||
| SC01 | Textile MFG. - SL | 20,379.8 | 28,568.9 | 48,946.9 | 37,537.0 | |||||||
| LY YoY% | 0 | 40.2 | 71.3 | -23.3 | -23.3 | -23.3 | -23.3 | -23.3 | -23.3 | |||
| SC02 | Textile MFG. - SL | 20,379.8 | 28,568.9 | 48,946.9 | 37,537.0 | |||||||
| LY YoY% | 0 | 40.2 | 71.3 | -23.3 | ||||||||
| SC03 | Textile MFG. - SL | 20,379.8 | 28,568.9 | 48,946.9 | 37,537.0 | |||||||
| LY YoY% | 0 | 40.2 | 71.3 | -23.3 |
| 2 | Textile MFG. - IND | 9,468.9 | 17,853.7 | 30,642.8 | 20,117.2 | 0.0 | ||||||
| - YoY% | 0 | 88.6 | 71.6 | -34.3 | 0 | |||||||
| SC01 | Textile MFG. - IND | 9,468.9 | 17,853.7 | 30,642.8 | 20,117.2 | |||||||
| LY YoY% | 0 | 88.6 | 71.6 | -34.3 | -34.3 | -34.3 | -34.3 | -34.3 | -34.3 | |||
| SC02 | Textile MFG. - IND | 9,468.9 | 17,853.7 | 30,642.8 | 20,117.2 | |||||||
| LY YoY% | 0 | 88.6 | 71.6 | -34.3 | ||||||||
| SC03 | Textile MFG. - IND | 9,468.9 | 17,853.7 | 30,642.8 | 20,117.2 | |||||||
| LY YoY% | 0 | 88.6 | 71.6 | -34.3 |
| 3 | Fabric printing – SL | 1,410.2 | 1,833.5 | 2,600.2 | 1,609.8 | 0.0 | ||||||
| - YoY% | 0 | 30.0 | 41.8 | -38.1 | 0 | |||||||
| SC01 | Fabric printing – SL | 1,410.2 | 1,833.5 | 2,600.2 | 1,609.8 | |||||||
| LY YoY% | 0 | 30.0 | 41.8 | -38.1 | -38.1 | -38.1 | -38.1 | -38.1 | -38.1 | |||
| SC02 | Fabric printing – SL | 1,410.2 | 1,833.5 | 2,600.2 | 1,609.8 | |||||||
| LY YoY% | 0 | 30.0 | 41.8 | -38.1 | ||||||||
| SC03 | Fabric printing – SL | 1,410.2 | 1,833.5 | 2,600.2 | 1,609.8 | |||||||
| LY YoY% | 0 | 30.0 | 41.8 | -38.1 |
| 4 | Fabric printing – IND | 521.4 | 1,331.9 | 1,847.3 | 1,469.9 | 0.0 | ||||||
| - YoY% | 0 | 155.4 | 38.7 | -20.4 | 0 | |||||||
| SC01 | Fabric printing – IND | 521.4 | 1,331.9 | 1,847.3 | 1,469.9 | |||||||
| LY YoY% | 0 | 155.4 | 38.7 | -20.4 | -20.4 | -20.4 | -20.4 | -20.4 | -20.4 | |||
| SC02 | Fabric printing – IND | 521.4 | 1,331.9 | 1,847.3 | 1,469.9 | |||||||
| LY YoY% | 0 | 155.4 | 38.7 | -20.4 | ||||||||
| SC03 | Fabric printing – IND | 521.4 | 1,331.9 | 1,847.3 | 1,469.9 | |||||||
| LY YoY% | 0 | 155.4 | 38.7 | -20.4 |
| 5 | nan | nan | nan | nan | nan | nan | ||||||
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| Std vs. Cus. Revenue | 31,780.3 | 49,588.0 | 84,037.1 | 60,734.0 | |||||||
| SC01 | S01Total Revenue | 31,780.3 | 49,588.0 | 84,037.1 | 60,734.0 | ||||||
| SC02 | S02Total Revenue | 31,780.3 | 49,588.0 | 84,037.1 | 60,734.0 | ||||||
| SC03 | S03Total Revenue | 31,780.3 | 49,588.0 | 84,037.1 | 60,734.0 |
| Checkbox Selection Revenue |
| Rs. Millions | FY21 | FY22 | FY23 | FY24 | 1Q25 | 9M FY25E | FY25E | FY26E | FY27E | FY28E | FY29E | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Customised Revenue | 31,780.3 | 49,588.0 | 84,037.1 | 60,734.0 | 15,392.5 | ||||||||
| YoY% | 0 | 56.0 | 164.4 | -27.7 | 10.0 |
| Rs. Millions | FY21 | FY22 | FY23 | FY24 | 1Q25 | 9M FY25E | FY25E | FY26E | FY27E | FY28E | FY29E | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Textile MFG. - SL | ||||||||||||
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| YoY% |
| Rs. Millions | FY21 | FY22 | FY23 | FY24 | 1Q25 | 9M FY25E | FY25E | FY26E | FY27E | FY28E | FY29E | ||
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| 2 | Textile MFG. - IND | ||||||||||||
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| YoY% |
| Rs. Millions | FY21 | FY22 | FY23 | FY24 | 1Q25 | 9M FY25E | FY25E | FY26E | FY27E | FY28E | FY29E | ||
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| 3 | Fabric printing – SL | ||||||||||||
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| YoY% |
| Rs. Millions | FY21 | FY22 | FY23 | FY24 | 1Q25 | 9M FY25E | FY25E | FY26E | FY27E | FY28E | FY29E | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 4 | Fabric printing – IND | ||||||||||||
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| Segment Revenue | 521.4 | 1,331.9 | 1,847.3 | 1,469.9 | 0.0 | ||||||||
| YoY% |
| Rs. Millions | FY21 | FY22 | FY23 | FY24 | FY25E | FY26E | FY27E | FY28E | FY29E | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 5 | |||||||||||
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| Segment Revenue | |||||||||||
| YoY% |
| Rs. Millions | FY21 | FY22 | FY23 | FY24 | FY25E | FY26E | FY27E | FY28E | FY29E | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 6 | |||||||||||
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| 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 | 27,990.3 | 45,010.3 | 77,194.2 | 55,677.3 | 14,098.8 | ||||||
| Depreciation | 1,323.7 | 1,386.3 | 3,172.7 | 3,010.7 | 0.0 | |||||||
| 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 | 26,666.6 | 43,624.0 | 74,021.6 | 52,666.6 | 14,098.8 | |||||||
| - As a % of sales | 83.9% | 88.0% | 88.1% | 86.7% | 91.6% | |||||||
| SC01 | COGS | 27,990.3 | 45,010.3 | 77,194.2 | 55,677.3 | 14,098.8 | ||||||
| Depreciation | 1,323.7 | 1,386.3 | 3,172.7 | 3,010.7 | 0.0 | |||||||
| 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 | 26,666.6 | 43,624.0 | 74,021.6 | 52,666.6 | 14,098.8 | |||||||
| - As a % of sales | 83.9% | 88.0% | 88.1% | 86.7% | 91.6% | 86.7% | 86.7% | 86.7% | 86.7% | 86.7% | ||
| SC02 | COGS | 27,990.3 | 45,010.3 | 77,194.2 | 55,677.3 | 14,098.8 | ||||||
| Depreciation | 1,323.7 | 1,386.3 | 3,172.7 | 3,010.7 | 0.0 | |||||||
| 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 | 26,666.6 | 43,624.0 | 74,021.6 | 52,666.6 | 14,098.8 | |||||||
| - As a % of sales | 83.9% | 88.0% | 88.1% | 86.7% | 91.6% | 87.6% | 87.6% | 87.6% | 87.6% | 87.6% | ||
| SC03 | COGS | 27,990.3 | 45,010.3 | 77,194.2 | 55,677.3 | 14,098.8 | ||||||
| Depreciation | 1,323.7 | 1,386.3 | 3,172.7 | 3,010.7 | 0.0 | |||||||
| 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 | 26,666.6 | 43,624.0 | 74,021.6 | 52,666.6 | 14,098.8 | |||||||
| - As a % of sales | 83.9% | 88.0% | 88.1% | 86.7% | 91.6% | |||||||
| COGS selection | ||||||||||||
| COGS% selection |
| 2 | Administration Expenses | 1,392.0 | 1,743.5 | 3,185.4 | 2,589.7 | 697.1 | ||||||
| Amortisation of Intangible Assets | 47.1 | 52.0 | 84.2 | 145.3 | 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 | 1,344.9 | 1,691.6 | 3,101.2 | 2,444.4 | 697.1 | |||||||
| - As a % of sales | 4.2% | 3.4% | 3.7% | 4.0% | 4.5% | |||||||
| SC01 | Administration Expenses | 1,392.0 | 1,743.5 | 3,185.4 | 2,589.7 | 697.1 | ||||||
| Amortisation of Intangible Assets | 47.1 | 52.0 | 84.2 | 145.3 | 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 | 1,344.9 | 1,691.6 | 3,101.2 | 2,444.4 | 697.1 | |||||||
| - As a % of sales | 4.2% | 3.4% | 3.7% | 4.0% | 4.5% | 4.0% | 4.0% | 4.0% | 4.0% | 4.0% | ||
| SC02 | Administration Expenses | 1,392.0 | 1,743.5 | 3,185.4 | 2,589.7 | 697.1 | ||||||
| Amortisation of Intangible Assets | 47.1 | 52.0 | 84.2 | 145.3 | 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 | 1,344.9 | 1,691.6 | 3,101.2 | 2,444.4 | 697.1 | |||||||
| - As a % of sales | 4.2% | 3.4% | 3.7% | 4.0% | 4.5% | 3.7% | 3.7% | 3.7% | 3.7% | 3.7% | ||
| SC03 | Administration Expenses | 1,392.0 | 1,743.5 | 3,185.4 | 2,589.7 | 697.1 | ||||||
| Amortisation of Intangible Assets | 47.1 | 52.0 | 84.2 | 145.3 | 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 | 1,344.9 | 1,691.6 | 3,101.2 | 2,444.4 | 697.1 | |||||||
| - As a % of sales | 4.2% | 3.4% | 3.7% | 4.0% | 4.5% | |||||||
| Admin selection |
| Selling & Distribution Expenses | 177.7 | 369.5 | 610.3 | 579.8 | 158.1 | |||||||
| Amortisation of Right of Use Assets | 57.6 | 65.4 | 124.6 | 100.7 | 0.0 | |||||||
| 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 | 120.1 | 304.1 | 485.8 | 479.1 | 158.1 | |||||||
| - As a % of sales | 0.4% | 0.6% | 0.6% | 0.8% | 1.0% | |||||||
| SC01 | S&D | 177.7 | 369.5 | 610.3 | 579.8 | 158.1 | ||||||
| Amortisation of Right of Use Assets | 57.6 | 65.4 | 124.6 | 57.6 | 0.0 | |||||||
| 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 | 120.1 | 304.1 | 485.8 | 479.1 | 158.1 | |||||||
| - As a % of sales | 0.4% | 0.6% | 0.6% | 0.8% | 1.0% | 0.8% | 0.8% | 0.8% | 0.8% | 0.8% | ||
| SC02 | s&D | 177.7 | 369.5 | 610.3 | 579.8 | 158.1 | ||||||
| Amortisation of Right of Use Assets | 57.6 | 65.4 | 124.6 | 57.6 | 0.0 | |||||||
| 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 | 120.1 | 304.1 | 485.8 | 479.1 | 158.1 | ||||||
| SC02 | - As a % of sales | 0.4% | 0.6% | 0.6% | 0.8% | 1.0% | 0.7% | 0.7% | 0.7% | 0.7% | 0.7% | |
| SC03 | S&D | 177.7 | 369.5 | 610.3 | 579.8 | 158.1 | ||||||
| Amortisation of Right of Use Assets | 57.6 | 65.4 | 124.6 | 57.6 | 0.0 | |||||||
| 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 | 120.1 | 304.1 | 485.8 | 479.1 | 158.1 | ||||||
| - As a % of sales | 0.4% | 0.6% | 0.6% | 0.8% | 1.0% | |||||||
| Sd selection |
| 4 | Capital Expenditure | 715.5 | 5,934.3 | 2,921.0 | 1,860.0 | 173.8 | |||||||
| - As a % of sales | 2.3% | 12.0% | 3.5% | 3.1% | 1.1% | ||||||||
| SC01 | Capital Expenditure | 715.5 | 5,934.3 | 2,921.0 | 1,860.0 | 173.8 | |||||||
| - As a % of sales | 2.3% | 12.0% | 3.5% | 3.1% | 3.1% | 3.1% | 3.1% | 3.1% | 3.1% | ||||
| SC02 | Capital Expenditure | 715.5 | 5,934.3 | 2,921.0 | 1,860.0 | 173.8 | |||||||
| - As a % of sales | 2.3% | 12.0% | 3.5% | 3.1% | 6.2% | 6.2% | 6.2% | 6.2% | 6.2% | ||||
| SC03 | Capital Expenditure | 715.5 | 5,934.3 | 2,921.0 | 1,860.0 | 173.8 | |||||||
| - As a % of sales | 2.3% | 12.0% | 3.5% | 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 | 22,979.5 | 25,017.0 | 32,347.0 | 40,917.1 | 41,783.5 | 41,957.3 | 41,783.5 | |||||||
| Capital Expenditure | 715.5 | 5,934.3 | 2,921.0 | 173.8 | |||||||||||
| Adjustments | 1,322.0 | 1,367.4 | 5,235.7 | -993.6 | 0.0 | 0.0 | |||||||||
| Balance C/F | 25,017.0 | 32,347.0 | 40,917.1 | 41,783.5 | 41,957.3 | ||||||||||
| SC01 | Balance B/F | 22,979.5 | 25,017.0 | 32,347.0 | 40,917.1 | 41,783.5 | 41,957.3 | 41,783.5 | |||||||
| Capital Expenditure | 715.5 | 5,934.3 | 2,921.0 | 1,860.0 | 173.8 | ||||||||||
| Adjustments | 1,322.0 | 1,367.4 | 5,235.7 | -993.6 | 0.0 | 0.0 | |||||||||
| Balance C/F | 25,017.0 | 32,347.0 | 40,917.1 | 41,783.5 | 41,957.3 | ||||||||||
| SC02 | Balance B/F | 22,979.5 | 25,017.0 | 32,347.0 | 40,917.1 | 41,783.5 | 41,957.3 | 41,783.5 | |||||||
| Capital Expenditure | 715.5 | 5,934.3 | 2,921.0 | 1,860.0 | 173.8 | ||||||||||
| Adjustments | 1,322.0 | 1,367.4 | 5,235.7 | -993.6 | 0.0 | 0.0 | |||||||||
| Balance C/F | 25,017.0 | 32,347.0 | 40,917.1 | 41,783.5 | 41,957.3 | ||||||||||
| SC03 | Balance B/F | 22,979.5 | 25,017.0 | 32,347.0 | 40,917.1 | 41,783.5 | 41,957.3 | 41,783.5 | |||||||
| Capital Expenditure | 715.5 | 5,934.3 | 2,921.0 | 1,860.0 | 173.8 | ||||||||||
| Adjustments | 1,322.0 | 1,367.4 | 5,235.7 | -993.6 | 0.0 | 0.0 | |||||||||
| Balance C/F | 25,017.0 | 32,347.0 | 40,917.1 | 41,783.5 | 41,957.3 |
| 1.1 | Depreciation (Rs. Millions) | FY21 | FY22 | FY23 | FY24 | 1Q25E | 9M FY25E | FY25E | FY26E | FY27E | FY28E | FY29E | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance B/F | 14,202.2 | 16,306.2 | 17,631.7 | 20,658.6 | 23,641.1 | 23,567.6 | 23,641.1 | ||||||
| Depreciation charge | 1,323.7 | 1,386.3 | 3,172.7 | 3,010.7 | 0.0 | ||||||||
| - As a % of sales | 4.2% | 2.8% | 3.8% | 5.0% | 0% | ||||||||
| Balance C/F | 16,306.2 | 17,631.7 | 20,658.6 | 23,641.1 | 23,567.6 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Adjustments | 780.2 | -60.7 | -145.9 | -28.2 | -73.5 | -73.5 | |||||||
| Net Book Value at end | 8,710.8 | 14,715.2 | 20,258.6 | 18,142.4 | 18,389.6 | ||||||||
| SC01 | Balance B/F | 14,202.2 | 16,306.2 | 17,631.7 | 20,658.6 | 23,641.1 | 23,567.6 | 23,641.1 | |||||
| SC01 | Depreciation charge | 1,323.7 | 1,386.3 | 3,172.7 | 3,010.7 | 0.0 | |||||||
| - As a % of sales | 4.2% | 2.8% | 3.8% | 5.0% | 0% | 5.0% | 5.0% | 5.0% | 5.0% | 5.0% | |||
| Balance C/F | 16,306.2 | 17,631.7 | 20,658.6 | 23,641.1 | 23,567.6 | ||||||||
| Adjustments | 780.2 | -60.7 | -145.9 | -28.2 | -73.5 | -73.5 | |||||||
| Net Book Value at end | 8,710.8 | 14,715.2 | 20,258.6 | 18,142.4 | 18,389.6 | ||||||||
| SC02 | Balance B/F | 14,202.2 | 16,306.2 | 17,631.7 | 20,658.6 | 23,641.1 | 23,567.6 | 23,641.1 | |||||
| SC02 | Depreciation charge | 1,323.7 | 1,386.3 | 3,172.7 | 3,010.7 | 0.0 | |||||||
| - As a % of sales | 4.2% | 2.8% | 3.8% | 5.0% | 0% | ||||||||
| Balance C/F | 16,306.2 | 17,631.7 | 20,658.6 | 23,641.1 | 23,567.6 | ||||||||
| Adjustments | 780.2 | -60.7 | -145.9 | -28.2 | -73.5 | -73.5 | |||||||
| Net Book Value at end | 8,710.8 | 14,715.2 | 20,258.6 | 18,142.4 | 18,389.6 | ||||||||
| SC03 | Balance B/F | 14,202.2 | 16,306.2 | 17,631.7 | 20,658.6 | 23,641.1 | 23,567.6 | 23,641.1 | |||||
| SC03 | Depreciation charge | 1,323.7 | 1,386.3 | 3,172.7 | 3,010.7 | 0.0 | |||||||
| - As a % of sales | 4.2% | 2.8% | 3.8% | 5.0% | 0% | ||||||||
| Balance C/F | 16,306.2 | 17,631.7 | 20,658.6 | 23,641.1 | 23,567.6 | ||||||||
| Adjustments | 780.2 | -60.7 | -145.9 | -28.2 | -73.5 | -73.5 | |||||||
| Net Book Value at end | 8,710.8 | 14,715.2 | 20,258.6 | 18,142.4 | 18,389.6 | ||||||||
| 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 | 7,180.9 | 12,859.1 | 9,025.6 | 9,773.6 | 10,539.0 | ||||||||||
| - As a % of sales | 22.6 | 25.9 | 10.7 | 16.1 | 17.0 | ||||||||||
| Four Qtr Cum. Revenue | |||||||||||||||
| Four Qtr Cum. COGS | |||||||||||||||
| SC01 | 2.1 Accounts and notes receivables | 7,180.9 | 12,859.1 | 9,025.6 | 9,773.6 | ||||||||||
| - As a % of sales | 22.6 | 25.9 | 10.7 | 16.1 | 16.1 | 16.1 | 16.1 | 16.1 | 16.1 | ||||||
| SC02 | 2.1 Accounts and notes receivables | 7,180.9 | 12,859.1 | 9,025.6 | 9,773.6 | ||||||||||
| - As a % of sales | 22.6 | 25.9 | 10.7 | 16.1 | 17.6 | 17.6 | 17.6 | 17.6 | 17.6 | ||||||
| Four Qtr Cum. Revenue | |||||||||||||||
| SC03 | 2.1 Accounts and notes receivables | 7,180.9 | 12,859.1 | 9,025.6 | 9,773.6 | ||||||||||
| - As a % of sales | 22.6 | 25.9 | 10.7 | 16.1 | |||||||||||
| Four Qtr Cum. COGS | |||||||||||||||
| Debtors selection |
| 2.2 Inventories | 7,280.7 | 16,355.8 | 13,383.0 | 11,645.8 | 12,496.0 | |||||||
| - As a % of COGS | 26.0 | 36.3 | 17.3 | 20.9 | 22.3 | |||||||
| SC01 | 2.2 Inventories | 7,280.7 | 16,355.8 | 13,383.0 | 11,645.8 | |||||||
| - As a % of COGS | 26.0 | 36.3 | 17.3 | 20.9 | 20.9 | 20.9 | 20.9 | 20.9 | 20.9 | |||
| SC02 | 2.2 Inventories | 7,280.7 | 16,355.8 | 13,383.0 | 11,645.8 | |||||||
| - As a % of COGS | 26.0 | 36.3 | 17.3 | 20.9 | 24.9 | 24.9 | 24.9 | 24.9 | 24.9 | |||
| SC03 | 2.2 Inventories | 7,280.7 | 16,355.8 | 13,383.0 | 11,645.8 | |||||||
| - As a % of COGS | 26.0 | 36.3 | 17.3 | 20.9 | ||||||||
| Stocks selection | ||||||||||||
| Stocks share selection |
| 2.3 Prepayments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| - As a % of sales | 0 | 0 | 0 | 0 | 0 | |||||||
| SC01 | 2.3 Prepayments | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| - As a % of sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||
| SC02 | 2.3 Prepayments | 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 | |||
| SC03 | 2.3 Prepayments | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| - As a % of sales | 0 | 0 | 0 | 0 | ||||||||
| Prepayment selection |
| 2.4 Accounts payable | 8,087.1 | 17,623.4 | 10,555.8 | 10,866.3 | 12,829.7 | |||||||
| - As a % of COGS | 28.9 | 39.2 | 13.7 | 19.5 | 22.9 | |||||||
| SC01 | 2.4 Accounts payable | 8,087.1 | 17,623.4 | 10,555.8 | 10,866.3 | |||||||
| - As a % of COGS | 28.9 | 39.2 | 13.7 | 19.5 | 19.5 | 19.5 | 19.5 | 19.5 | 19.5 | |||
| SC02 | 2.4 Accounts payable | 8,087.1 | 17,623.4 | 10,555.8 | 10,866.3 | |||||||
| - As a % of COGS | 28.9 | 39.2 | 13.7 | 19.5 | 24.1 | 24.1 | 24.1 | 24.1 | 24.1 | |||
| SC03 | 2.4 Accounts payable | 8,087.1 | 17,623.4 | 10,555.8 | 10,866.3 | |||||||
| - As a % of COGS | 28.9 | 39.2 | 13.7 | 19.5 | ||||||||
| Payable selection | ||||||||||||
| Payable Share selection |
| 2.5 Other | |||||||||||||
| - As a % of COGS | nan | nan | nan | nan | 0.0 | ||||||||
| 2.5 Other | |||||||||||||
| - As a % of COGS | nan | nan | nan | nan | nan | nan | nan | nan | nan | ||||
| 2.5 Other | |||||||||||||
| - As a % of COGS | nan | nan | nan | nan | |||||||||
| 2.5 Other | |||||||||||||
| - As a % of COGS | nan | nan | nan | nan | |||||||||
| Other selection | |||||||||||||
| Other Share selection | |||||||||||||
| Working Capital | |||||||||||||
| SC01 Working Capital | |||||||||||||
| SC02 Working Capital | |||||||||||||
| SC03 Working CapitalXXXXX | |||||||||||||
| SC04 & 05 Change in WC | 1,182.7 | 347.8 | |||||||||||
| SC04 & 05 Change in WC - Balance Period | |||||||||||||
| SC01 Change in WC | 1,182.7 | 347.8 | |||||||||||
| SC01 Change in WC - Balance Period | |||||||||||||
| SC02 Change in WC | 1,182.7 | 347.8 | |||||||||||
| SC02 Change in WC - Balance Period | |||||||||||||
| SC03 Change in Working Capital | 1,182.7 | 347.8 | |||||||||||
| 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 debt balance | 412.2 | 197.6 | 5,581.2 | 6,238.7 | 5,214.7 | 5,264.0 | 5,214.7 | ||||||
| Issuance of debt | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| Repayment of debt | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| Net of Payments | -214.6 | 5,383.6 | 657.5 | -1,024.0 | 49.3 | 49.3 | |||||||
| Adjustments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Closing balance | 197.6 | 5,581.2 | 6,238.7 | 5,214.7 | 5,264.0 | ||||||||
| Current Portion of Long Term Debt | 0.0 | 0.0 | 0.0 | 1,074.8 | 0.0 | ||||||||
| Interest Expenses | 24.7 | 13.0 | 441.8 | 607.5 | 0.0 | ||||||||
| Blended Interest Expenses Rate | 8.1 | 0.5 | 7.5 | 10.6 | 0 | % | % | % | % | % | |||
| SC01 | Opening debt balance | 412.2 | 197.6 | 5,581.2 | 6,238.7 | 5,214.7 | 5,264.0 | 5,214.7 | |||||
| Issuance of debt | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||
| Repayment of debt | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| Net of Payments | -214.6 | 5,383.6 | 657.5 | -1,024.0 | 49.3 | 49.3 | |||||||
| Adjustments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Closing balance | 197.6 | 5,581.2 | 6,238.7 | 5,214.7 | 5,264.0 | ||||||||
| Adjustments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Interest Expenses | 24.7 | 13.0 | 441.8 | 607.5 | 0.0 | ||||||||
| Blended Interest Expenses Rate | 8.1 | 0.5 | 7.5 | 10.6 | 10.6 | 10.6 | 10.6 | 10.6 | 10.6 | ||||
| SC02 | Opening debt balance | 412.2 | 197.6 | 5,581.2 | 6,238.7 | 5,214.7 | 5,264.0 | 5,214.7 | |||||
| Issuance of debt | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 4,005.8 | 4,005.8 | 4,005.8 | 4,005.8 | 4,005.8 | |||
| Repayment of debt | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| Net of Payments | -214.6 | 5,383.6 | 657.5 | -1,024.0 | 49.3 | ||||||||
| Closing balance | 197.6 | 5,581.2 | 6,238.7 | 5,214.7 | 5,264.0 | ||||||||
| Adjustments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Interest Expenses | 24.7 | 13.0 | 441.8 | 607.5 | 0.0 | ||||||||
| Blended Interest Expenses Rate | 8.1 | 0.5 | 7.5 | 10.6 | |||||||||
| SC03 | Opening debt balance | 412.2 | 197.6 | 5,581.2 | 6,238.7 | 5,214.7 | 5,264.0 | 5,214.7 | |||||
| Issuance of debt | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| Repayment of debt | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| Net of Payments | -214.6 | 5,383.6 | 657.5 | -1,024.0 | 49.3 | 49.3 | |||||||
| Closing balance | 197.6 | 5,581.2 | 6,238.7 | 5,214.7 | 5,264.0 | ||||||||
| Adjustments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Interest Expenses | 24.7 | 13.0 | 441.8 | 607.5 | 0.0 | ||||||||
| Blended Interest Expenses Rate | 8.1 | 0.5 | 7.5 | 10.6 | % | % | % | % | % | ||||
| 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 debt balance | 2,667.2 | 2,859.6 | 5,695.5 | 5,780.9 | 4,093.4 | 3,231.6 | 4,093.4 | ||||||
| Issuance of debt | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| Repayment of debt | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| Net of Payments | 192.3 | 2,836.0 | 85.3 | -1,687.5 | -861.8 | ||||||||
| Adjustments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | <|||||||
| Closing balance | 2,859.6 | 5,695.5 | 5,780.9 | 4,093.4 | 3,231.6 | ||||||||
| Interest Expenses | 15.3 | 79.0 | 385.5 | 333.7 | 0.0 | ||||||||
| Blended Interest Expenses Rate | 55.4 | 184.7 | 671.7 | 675.9 | 0 | % | % | % | % | % |
| SC01 | Opening debt balance | 2,667.2 | 2,859.6 | 5,695.5 | 5,780.9 | 4,093.4 | 3,231.6 | 4,093.4 | |||||
| Issuance of debt | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||
| Repayment of debt | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| Net of Payments | 192.3 | 2,836.0 | 85.3 | -1,687.5 | -861.8 | ||||||||
| v. Average Debt balance | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Closing balance | 2,859.6 | 5,695.5 | 5,780.9 | 4,093.4 | 3,231.6 | ||||||||
| Interest Expenses | 15.3 | 79.0 | 385.5 | 333.7 | 0.0 | ||||||||
| Blended Interest Expenses Rate | 55.4 | 184.7 | 671.7 | 675.9 | 0 |
| SC02 | Opening debt balance | 2,667.2 | 2,859.6 | 5,695.5 | 5,780.9 | 4,093.4 | 3,231.6 | 4,093.4 | |||||
| Issuance of debt | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| Repayment of debt | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| Net of Payments | 192.3 | 2,836.0 | 85.3 | -1,687.5 | -861.8 | ||||||||
| v. Average Debt balance | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Closing balance | 2,859.6 | 5,695.5 | 5,780.9 | 4,093.4 | 3,231.6 | ||||||||
| Interest Expenses | 15.3 | 79.0 | 385.5 | 333.7 | 0.0 | ||||||||
| Blended Interest Expenses Rate | 55.4 | 184.7 | 671.7 | 675.9 | 0 |
| SC03 | Opening debt balance | 2,667.2 | 2,859.6 | 5,695.5 | 5,780.9 | 4,093.4 | 3,231.6 | 4,093.4 | |||||
| Issuance of debt | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| Repayment of debt | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| Net of Payments | 192.3 | 2,836.0 | 85.3 | -1,687.5 | -861.8 | ||||||||
| v. Average Debt balance | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Closing balance | 2,859.6 | 5,695.5 | 5,780.9 | 4,093.4 | 3,231.6 | ||||||||
| Interest Expenses | 15.3 | 79.0 | 385.5 | 333.7 | 0.0 | ||||||||
| Blended Interest Expenses Rate | 55.4 | 184.7 | 671.7 | 675.9 | 0 | ||||||||
| 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 debt balance | 160.4 | 248.7 | 218.0 | 562.4 | 15.7 | 0.0 | 15.7 | ||||||
| Issuance of debt | nan | nan | nan | nan | nan | ||||||||
| Repayment of debt | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | Net of Payments | |||||||
| Adjustments | 88.4 | -30.7 | 344.4 | -546.7 | -15.7 | -15.7 | |||||||
| Closing balance | 248.7 | 218.0 | 562.4 | 15.7 | 0.0 | ||||||||
| Interest Expenses | 0.0 | 4.5 | 16.9 | 12.4 | 0.0 | ||||||||
| Blended Interest Expenses Rate | 0.0 | 0.0 | 0.0 | 0.0 | 0 | % | % | % | % | % |
| SC01 | Opening debt balance | 160.4 | 248.7 | 218.0 | 562.4 | 15.7 | 0.0 | 15.7 | |||||
| Issuance of debt | nan | nan | nan | nan | nan | ||||||||
| Repayment of debt | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | Net of Payments | |||||||
| Closing balance | 248.7 | 218.0 | 562.4 | 15.7 | 0.0 | ||||||||
| Adjustments | 88.4 | -30.7 | 344.4 | -546.7 | -15.7 | -15.7 | |||||||
| Interest Expenses | 0.0 | 4.5 | 16.9 | 12.4 | 0.0 | ||||||||
| Blended Interest Expenses Rate | 0.0 | 0.0 | 0.0 | 0.0 | 0 |
| SC02 | Opening debt balance | 160.4 | 248.7 | 218.0 | 562.4 | 15.7 | 0.0 | 15.7 | |||||
| Issuance of debt | nan | nan | nan | nan | nan | ||||||||
| Repayment of debt | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | Net of Payments | |||||||
| Closing balance | 248.7 | 218.0 | 562.4 | 15.7 | 0.0 | ||||||||
| Adjustments | 88.4 | -30.7 | 344.4 | -546.7 | -15.7 | -15.7 | |||||||
| Interest Expenses | 0.0 | 4.5 | 16.9 | 12.4 | 0.0 | ||||||||
| Blended Interest Expenses Rate | 0.0 | 0.0 | 0.0 | 0.0 | 0 |
| SC03 | Opening debt balance | 160.4 | 248.7 | 218.0 | 562.4 | 15.7 | 0.0 | 15.7 | |||||
| Issuance of debt | nan | nan | nan | nan | nan | ||||||||
| Repayment of debt | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| Net of Payments | |||||||||||||
| Closing balance | 248.7 | 218.0 | 562.4 | 15.7 | 0.0 | ||||||||
| Adjustments | 88.4 | -30.7 | 344.4 | -546.7 | -15.7 | -15.7 | |||||||
| Interest Expenses | 0.0 | 4.5 | 16.9 | 12.4 | 0.0 | ||||||||
| Blended Interest Expenses Rate | 0.0 | 0.0 | 0.0 | 0.0 | 0 | ||||||||
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Term Loan | 24.7 | 13.0 | 441.8 | 607.5 | 0.0 | ||||||||
| Rate | 8.1% | 0.5% | 7.5% | 10.6% | 0.0% | ||||||||
| Short Term bank borrowings | 15.3 | 79.0 | 385.5 | 333.7 | 0.0 | ||||||||
| Rate | 0.6% | 1.8% | 6.7% | 6.8% | 0.0% | ||||||||
| Bank Overdrafts | 0.0 | 4.5 | 16.9 | 12.4 | 0.0 | ||||||||
| Rate | 0.0% | 1.9% | 4.3% | 4.3% | 0.0% | ||||||||
| Lease interest | 47.9 | 52.7 | 145.9 | 141.9 | 0.0 | ||||||||
| Rate | 7.3% | 6.4% | 12.0% | 10.1% | 0.0% | ||||||||
| Total interest | 118.9 | 149.2 | 990.1 | 1,095.5 | 0.0 |
| 4 | Leases (Rs. Millions) | FY21 | FY22 | FY23 | FY24 | 1Q25 | 9M FY25E | FY25E | FY26E | FY27E | FY28E | FY29E | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| LEASE - Opening balance | 640.1 | 668.3 | 973.5 | 1,455.1 | 1,342.0 | 1,386.3 | 1,342.0 | ||||||
| Additions | 0.0 | 28.3 | 413.4 | 18.3 | 0.0 | ||||||||
| Payments | 59.8 | 74.7 | 158.7 | 142.2 | 0.0 | ||||||||
| Adjustments | 40.2 | 298.9 | 81.0 | -131.2 | 44.3 | 44.3 | |||||||
| Lease Interest expenses | 47.9 | 52.7 | 145.9 | 141.9 | 0.0 | ||||||||
| Average Interest Rate | 732.0 | 642.2 | 1201.8 | 1014.6 | 0 | ||||||||
| Closing balance | 668.3 | 973.5 | 1,455.1 | 1,342.0 | 1,386.3 | ||||||||
| Lease Liabilities - Current Portion | 13.7 | 43.1 | 114.1 | 112.6 | 124.1 | ||||||||
| SC01 | LEASE - Opening balance | 640.1 | 668.3 | 973.5 | 1,455.1 | 1,342.0 | 1,386.3 | 1,342.0 | |||||
| Additions | 0.0 | 28.3 | 413.4 | 18.3 | 0.0 | 18.3 | |||||||
| Payments | 59.8 | 74.7 | 158.7 | 142.2 | 0.0 | 142.2 | 142.2 | 142.2 | 142.2 | 142.2 | |||
| Closing balance | 668.3 | 973.5 | 1,455.1 | 1,342.0 | 1,386.3 | ||||||||
| Adjustments | 40.2 | 298.9 | 81.0 | -131.2 | 44.3 | 44.3 | |||||||
| Lease Interest expenses | 47.9 | 52.7 | 145.9 | 141.9 | 0.0 | ||||||||
| Blended Interest rate (%) | 732.0 | 642.2 | 1201.8 | 1014.6 | 1014.6 | 1014.6 | 1014.6 | 1014.6 | 1014.6 | ||||
| SC02 | LEASE - Opening balance | 640.1 | 668.3 | 973.5 | 1,455.1 | 1,342.0 | 1,386.3 | 1,342.0 | |||||
| Additions | 0.0 | 28.3 | 413.4 | 18.3 | 0.0 | 18.3 | |||||||
| Payments | 59.8 | 74.7 | 158.7 | 142.2 | 0.0 | 142.2 | |||||||
| Adjustments | 40.2 | 298.9 | 81.0 | -131.2 | 44.3 | 44.3 | |||||||
| Closing balance | 668.3 | 973.5 | 1,455.1 | 1,342.0 | 1,386.3 | ||||||||
| Lease Interest expenses | 47.9 | 52.7 | 145.9 | 141.9 | 0.0 | ||||||||
| Blended Interest rate (%) | 732.0 | 642.2 | 1201.8 | 1014.6 | |||||||||
| SC03 | LEASE - Opening balance | 640.1 | 668.3 | 973.5 | 1,455.1 | 1,342.0 | 1,386.3 | 1,342.0 | |||||
| Lease Additions | 0.0 | 28.3 | 413.4 | 18.3 | 0.0 | ||||||||
| Payments | 59.8 | 74.7 | 158.7 | 142.2 | 0.0 | ||||||||
| Adjustments | 40.2 | 298.9 | 81.0 | -131.2 | 44.3 | 44.3 | |||||||
| Closing balance | 668.3 | 973.5 | 1,455.1 | 1,342.0 | 1,386.3 | ||||||||
| Lease Interest expenses | 47.9 | 52.7 | 145.9 | 141.9 | 0.0 | ||||||||
| Blended Interest rate (%) | 732.0 | 642.2 | 1201.8 | 1014.6 | % | % | % | % | % | ||||
| 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 | 910.4 | 899.0 | 1,341.5 | 1,740.0 | 1,681.2 | 1,683.9 | 1,681.2 | ||||||
| Additions | 0.0 | 28.3 | 413.4 | 18.3 | 0.0 | ||||||||
| Adjustments | 46.2 | 479.6 | 109.7 | 23.4 | 2.7 | 2.7 | |||||||
| Amortisation | 57.6 | 65.4 | 124.6 | 100.7 | 0.0 | ||||||||
| Amortisation rate % | 6.3 | 7.3 | 9.3 | 5.8 | 0.0 | ||||||||
| Closing balance | 899.0 | 1,341.5 | 1,740.0 | 1,681.2 | 1,683.9 | ||||||||
| SC01 | Opening balance | 910.4 | 899.0 | 1,341.5 | 1,740.0 | 1,681.2 | 1,683.9 | 1,681.2 | 1,681.2 | 1,681.2 | 1,681.2 | 1,681.2 | |
| Additions | 0.0 | 28.3 | 413.4 | 18.3 | 0.0 | 18.3 | 18.3 | 18.3 | 18.3 | 18.3 | |||
| Adjustments | 46.2 | 479.6 | 109.7 | 23.4 | 2.7 | 2.7 | |||||||
| Amortisation/Depreciation | 57.6 | 65.4 | 124.6 | 100.7 | 0.0 | ||||||||
| Amortisation rate % | 6.3 | 7.3 | 9.3 | 5.8 | 0.0 | 5.8 | 5.8 | 5.8 | 5.8 | 5.8 | |||
| Closing balance | 899.0 | 1,341.5 | 1,740.0 | 1,681.2 | 1,683.9 | ||||||||
| SC02 | Opening balance | 910.4 | 899.0 | 1,341.5 | 1,740.0 | 1,681.2 | 1,683.9 | 1,681.2 | 1,681.2 | 1,681.2 | 1,681.2 | 1,681.2 | |
| Additions | 0.0 | 28.3 | 413.4 | 18.3 | 0.0 | 1,326.8 | 1,326.8 | 1,326.8 | 1,326.8 | 1,326.8 | |||
| Adjustments | 46.2 | 479.6 | 109.7 | 23.4 | 2.7 | 2.7 | |||||||
| Amortisation/Depreciation | 57.6 | 65.4 | 124.6 | 100.7 | 0.0 | ||||||||
| Amortisation rate % | 6.3 | 7.3 | 9.3 | 5.8 | 0.0 | 1,587.6 | 1,587.6 | 1,587.6 | 1,587.6 | 1,587.6 | |||
| Closing balance | 899.0 | 1,341.5 | 1,740.0 | 1,681.2 | 1,683.9 | ||||||||
| SC03 | Opening balance | 910.4 | 899.0 | 1,341.5 | 1,740.0 | 1,681.2 | 1,683.9 | 1,681.2 | |||||
| Additions | 0.0 | 28.3 | 413.4 | 18.3 | 0.0 | Amortisation/Depreciation | 57.6 | 65.4 | 124.6 | 100.7 | 0.0 | ||
| Adjustments | 46.2 | 479.6 | 109.7 | 23.4 | 2.7 | 2.7 | |||||||
| Closing balance | 899.0 | 1,341.5 | 1,740.0 | 1,681.2 | 1,683.9 | ||||||||
| 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 | 77.7 | 125.5 | 143.4 | 161.3 | 606.4 | 565.2 | 606.4 | ||||||
| Additions | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||||
| Adjustments | 94.9 | 69.9 | 102.2 | 590.4 | -41.2 | -41.2 | |||||||
| Amortisation | 47.1 | 52.0 | 84.2 | 145.3 | 0.0 | ||||||||
| Amortisation rate % | 56.9 | 69.3 | 72.8 | 36.3 | 0.0 | ||||||||
| Closing balance | 125.5 | 143.4 | 161.3 | 606.4 | 565.2 | ||||||||
| SC01 | Opening balance | 77.7 | 125.5 | 143.4 | 161.3 | 606.4 | 565.2 | 606.4 | 606.4 | 606.4 | 606.4 | 606.4 | |
| Additions | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||
| Adjustments | 94.9 | 69.9 | 102.2 | 590.4 | -41.2 | -41.2 | |||||||
| Amortisation/Depreciation | 47.1 | 52.0 | 84.2 | 145.3 | 0.0 | ||||||||
| Amortisation rate % | 56.9 | 69.3 | 72.8 | 36.3 | 0.0 | 36.3 | 36.3 | 36.3 | 36.3 | 36.3 | |||
| Closing balance | 125.5 | 143.4 | 161.3 | 606.4 | 565.2 | ||||||||
| SC02 | Opening balance | 77.7 | 125.5 | 143.4 | 161.3 | 606.4 | 565.2 | 606.4 | 606.4 | 606.4 | 606.4 | 606.4 | |
| Additions | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 143.4 | 143.4 | 143.4 | 143.4 | 143.4 | |||
| Adjustments | 94.9 | 69.9 | 102.2 | 590.4 | -41.2 | -41.2 | |||||||
| Amortisation/Depreciation | 47.1 | 52.0 | 84.2 | 145.3 | 0.0 | ||||||||
| Amortisation rate % | 56.9 | 69.3 | 72.8 | 36.3 | 0.0 | 303.7 | 303.7 | 303.7 | 303.7 | 303.7 | |||
| Closing balance | 125.5 | 143.4 | 161.3 | 606.4 | 565.2 | ||||||||
| SC03 | Opening balance | 77.7 | 125.5 | 143.4 | 161.3 | 606.4 | 565.2 | 606.4 | |||||
| Additions | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | Amortisation/Depreciation | 47.1 | 52.0 | 84.2 | 145.3 | 0.0 | ||
| Adjustments | 94.9 | 69.9 | 102.2 | 590.4 | -41.2 | -41.2 | |||||||
| Closing balance | 125.5 | 143.4 | 161.3 | 606.4 | 565.2 | ||||||||
| 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 | 6,383.4 | 7,913.8 | 7,233.3 | 7,233.3 | |||||||||
| Interest Income | 276.8 | 439.8 | 811.5 | 454.7 | 136.8 | ||||||||
| Blended Interest Income Rate | 6.2 | 6.9 | 10.3 | 6.3 | 2.2 | % | % | % | % | ||||
| SC01 | ii. Interest Income | 276.8 | 439.8 | 811.5 | 454.7 | 136.8 | |||||||
| iii. Blended Interest income rate | 6.2 | 6.9 | 10.3 | 6.3 | 6.3 | 6.3 | 6.3 | 6.3 | 6.3 | ||||
| SC02 | ii. Interest Income | 276.8 | 439.8 | 811.5 | 454.7 | 136.8 | |||||||
| iii. Blended Interest income rate | 6.2 | 6.9 | 10.3 | 6.3 | |||||||||
| SC03 | i. Cash & CE Balance C/F | 6,383.4 | 7,913.8 | 7,233.3 | |||||||||
| ii. Interest Income | 276.8 | 439.8 | 811.5 | 454.7 | 136.8 | ||||||||
| iii. Blended Interest income rate | 6.2 | 6.9 | 10.3 | 6.3 | % | % | % | % | % | ||||
| 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 | 2,599.3 | 2,863.7 | 3,116.5 | 1,572.4 | 273.7 | ||||||||
| Tax B/F | 91.6 | 126.4 | 232.7 | 489.8 | 281.7 | 278.2 | 281.7 | ||||||
| Tax Provision for the Year | 506.9 | 380.5 | 994.8 | 895.8 | 115.4 | ||||||||
| Adjustments | -5.4 | 27.8 | -11.8 | 11.7 | 110.0 | 110.0 | |||||||
| Taxes paid (prov. for the previous year) | 466.6 | 302.0 | 725.9 | 1,115.6 | 228.8 | ||||||||
| Tax C/F | 126.4 | 232.7 | 489.8 | 281.7 | 278.2 | ||||||||
| Tax Rate | 0 | 0 | 0 | 0 | 0 | % | % | % | % | % | |||
| SC01 | ii. Balance B/F | 91.6 | 126.4 | 232.7 | 489.8 | 489.8 | 278.2 | 281.7 | |||||
| iii. Tax provision for the year | 506.9 | 380.5 | 994.8 | 895.8 | 115.4 | ||||||||
| iv. Taxes paid (provision for the previous year) | 466.6 | 302.0 | 725.9 | 1,115.6 | 228.8 | 895.8 | |||||||
| Adjustments | -5.4 | 27.8 | -11.8 | 11.7 | 110.0 | 110.0 | |||||||
| v. Balance C/F | 126.4 | 232.7 | 489.8 | 281.7 | 278.2 | ||||||||
| vi. Tax Rate | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| SC02 | ii. Balance B/F | 91.6 | 126.4 | 232.7 | 489.8 | 489.8 | 278.2 | 281.7 | |||||
| iii. Tax provision for the year | 506.9 | 380.5 | 994.8 | 895.8 | 115.4 | ||||||||
| iv. Taxes paid (provision for the previous year) | 466.6 | 302.0 | 725.9 | 1,115.6 | 228.8 | 895.8 | |||||||
| Adjustments | -5.4 | 27.8 | -11.8 | 11.7 | 110.0 | 110.0 | |||||||
| v. Balance C/F | 126.4 | 232.7 | 489.8 | 281.7 | 278.2 | ||||||||
| vi. Tax Rate | 0 | 0 | 0 | 0 | |||||||||
| SC03 | ii. Balance B/F | 91.6 | 126.4 | 232.7 | 489.8 | 489.8 | 278.2 | 281.7 | |||||
| iii. Tax provision for the year | 506.9 | 380.5 | 994.8 | 895.8 | 115.4 | ||||||||
| iv. Taxes paid (provision for the previous year) | 466.6 | 302.0 | 725.9 | 1,115.6 | 228.8 | 895.8 | |||||||
| Adjustments | -5.4 | 27.8 | -11.8 | 11.7 | 110.0 | 110.0 | |||||||
| v. Balance C/F | 126.4 | 232.7 | 489.8 | 281.7 | 278.2 | ||||||||
| vi. Tax Rate | 0 | 0 | 0 | 0 | |||||||||
| 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 | Textile MFG. - SL | - YoY% | ||||||
| 2 | Textile MFG. - IND | - YoY% | ||||||
| 3 | Fabric printing – SL | - YoY% | ||||||
| 4 | Fabric printing – IND | - 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 | 31,780.3 | 49,588.0 | 84,037.1 | 60,734.0 | 15,392.5 | |||||||
| Excise Duty | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| COGS | 27,990.3 | 45,010.3 | 77,194.2 | 55,677.3 | 14,098.8 | |||||||
| Gross Profit | 3,790.0 | 4,577.6 | 6,842.9 | 5,056.6 | 1,293.8 | |||||||
| Other Income | 185.7 | 151.5 | 531.6 | 203.2 | 57.7 | 0 | 57.7 | |||||
| Administration Exp. | 1,392.0 | 1,743.5 | 3,185.4 | 2,589.7 | 697.1 | |||||||
| Selling & Distribution Exp. | 177.7 | 369.5 | 610.3 | 579.8 | 158.1 | |||||||
| Depreciation | 1,323.7 | 1,386.3 | 3,172.7 | >3,010.7 | 0.0 | |||||||
| Amortisation | 104.8 | 117.4 | 208.8 | 246.0 | 0.0 | |||||||
| Other Operating Expenses | 35.5 | -43.0 | -283.7 | 122.9 | -114.3 | -114.3 | ||||||
| Operating Income | 2,441.4 | 2,573.1 | 3,295.1 | 2,213.2 | 382.0 | |||||||
| Interest Expenses | 118.9 | 149.2 | 990.1 | 1,095.5 | 245.1 | |||||||
| Interest Income | 276.8 | 439.8 | 811.5 | 136.8 | ||||||||
| Other (Expenses)/Income | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||
| Profit Before Tax | 2,599.3 | 2,863.7 | 3,116.5 | 1,572.4 | 273.7 | |||||||
| Tax Expenses | -459.7 | -332.5 | -989.7 | -462.8 | -115.4 | |||||||
| Profit After Tax | 2,139.6 | 2,531.3 | 2,126.7 | 1,109.5 | 158.3 | |||||||
| Other | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||
| Net Income | 2,139.6 | 2,531.3 | 2,126.7 | 158.3 |
| Cash Flow Statement | Forecast Ref. | FY21 | FY22 | FY23 | FY24 | 1Q25 | 9M FY25E | FY25E | FY26E | FY27E | FY28E | FY29E |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Profit Before Tax | From IS | 2,599.3 | 2,863.7 | 3,116.5 | 1,572.4 | 273.7 | ||||||
| Depreciation | From OA 1.1 | 1,323.7 | 1,386.3 | 3,172.7 | 3,010.7 | 0.0 | ||||||
| Right of Use Asset - Amortisation | 57.6 | 65.4 | 124.6 | 100.7 | 0.0 | |||||||
| Intangible Asset Amortisation | 47.1 | 52.0 | 84.2 | 145.3 | 0.0 | |||||||
| Change in Working Capital | From OA 2 | -1,600.0 | -5,950.6 | -261.2 | 1,182.7 | 347.8 | ||||||
| CWC Adjustment | 0.0 | 0.0 | ||||||||||
| Income Tax Paid | From OA 5 | 466.6 | 302.0 | 725.9 | 1,115.6 | 228.8 | ||||||
| Other | 382.6 | 6,651.3 | 2,156.4 | -2,042.0 | 568.1 | 0 | 568.1 | |||||
| Net Cash Flow from / (used in) Operating Activities | 2,343.8 | 4,766.1 | 7,667.2 | 2,854.1 | 960.8 | |||||||
| Capital Expenditure | From CA 4 | 715.5 | 5,934.3 | 2,921.0 | 1,860.0 | 173.8 | ||||||
| Acquisition of Right to Use Assets | From CA 4 | 0.0 | 28.3 | 413.4 | 18.3 | 0.0 | ||||||
| Acquisition of Intangible Assets | From CA 4 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||
| Other | -712.2 | -142.5 | -1,459.3 | 1,613.0 | -1,061.1 | 0 | -1,061.1 | |||||
| Cash Flows from Investing Activities | -1,427.7 | -6,105.1 | -4,793.7 | -265.4 | -1,234.9 | |||||||
| Borrowings | 0.0 | 9,165.0 | 7,976.2 | 13,527.6 | 0.0 | |||||||
| Debt Repayments | 104.5 | 4,493.3 | 8,429.8 | 15,570.3 | 1,239.2 | |||||||
| Net of Borrowings/ Repayments | -104.5 | 4,671.7 | -453.6 | -2,042.7 | -1,239.2 | |||||||
| Adjustments to match published numbers | 411.0 | 411.0 | ||||||||||
| Lease Additions | ||||||||||||
| Lease Repayments | 59.9 | 131.0 | 158.7 | 142.2 | 0.0 | |||||||
| Other | -1,650.4 | -1,240.0 | -1,075.1 | -537.6 | 140.6 | 0 | 140.6 | |||||
| Net Cash flows from / (used in) Financing Activities | -1,814.8 | 3,300.6 | -1,687.5 | -2,722.5 | -1,098.5 | |||||||
| Other | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||||
| Net Increase/(Decrease) in Cash and Cash Equivalents | -898.6 | 1,961.6 | 1,186.1 | -133.7 | -1,372.6 | |||||||
| Favourable/Unfavourable Balances | 248.7 | 218.0 | 562.4 | 15.7 | 278.0 | |||||||
| Cash and CE at Start | 5,102.4 | 4,203.7 | 6,165.3 | 7,351.4 | 7,217.7 | 6,123.0 | 7,217.7 | |||||
| Cash and CE at End | 4,203.7 | 6,165.3 | 7,351.4 | 7,217.7 | 5,845.0 |
| Balance Sheet | Notes | FY21 | FY22 | FY23 | FY24 | 1Q25 | 9M FY25E | FY25E | FY26E | FY27E | FY28E | FY29E | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||||
| Property Plant and Equipment - NBV | From OA 1 | 8,710.8 | 14,715.2 | 20,258.6 | 18,142.4 | 18,389.6 | |||||||
| Capital work-in progress | 425.3 | 5,268.7 | 1,836.0 | 703.4 | 255.0 | 255.0 | 255.0 | 255.0 | 255.0 | 255.0 | 255.0 | ||
| Goodwill | 65.7 | 96.0 | 105.8 | 98.3 | 100.1 | 100.1 | 100.1 | 100.1 | 100.1 | 100.1 | 100.1 | ||
| Intangible assets | 125.5 | 143.4 | 161.3 | 606.4 | 565.2 | ||||||||
| Right-of-use assets | 899.0 | 1,341.5 | 1,740.0 | 1,681.2 | 1,683.9 | ||||||||
| Deferred tax assets | 273.2 | 431.6 | 1,856.0 | 2,239.5 | 2,354.6 | 2,354.6 | 2,354.6 | 2,354.6 | 2,354.6 | 2,354.6 | 2,354.6 | ||
| Other | 0.0 | 0.0 | 0.0 | 625.8 | 638.5 | 638.5 | 638.5 | 638.5 | 638.5 | 638.5 | 638.5 | ||
| Non Current Assets | 10,499.5 | 21,996.5 | 25,957.8 | 24,097.0 | 23,987.0 | ||||||||
| Inventories | From OA 2.2 | 7,280.7 | 16,355.8 | 13,383.0 | 11,645.8 | 12,496.0 | |||||||
| Trade and Other Receivables | From OA 2.1 | 7,180.9 | 12,859.1 | 9,025.6 | 9,773.6 | 10,539.0 | |||||||
| Prepayments | From OA 2.3 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||
| Current Tax receivable | 6.2 | 476.9 | 496.7 | 614.5 | 682.1 | 682.1 | 682.1 | 682.1 | 682.1 | 682.1 | 682.1 | ||
| Other Financial Assets | 1,679.6 | 1,822.1 | 3,281.4 | 1,668.5 | 2,781.0 | 2,781.0 | 2,781.0 | 2,781.0 | 2,781.0 | 2,781.0 | 2,781.0 | ||
| 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 | 4,452.5 | 6,383.4 | 7,913.8 | 7,233.3 | 6,123.0 | |||||||
| Current Assets | 20,599.8 | 37,897.3 | 34,100.5 | 30,935.7 | 32,621.1 | ||||||||
| Total Assets | 31,099.3 | 59,893.8 | 60,058.2 | 56,608.1 | |||||||||
| Equities and Liabilities | |||||||||||||
| Stated Capital | 4,248.8 | 4,442.2 | 4,442.2 | 4,442.2 | 4,582.9 | 4,582.9 | 4,582.9 | 4,582.9 | 4,582.9 | 4,582.9 | 4,582.9 | ||
| Reserves | 9,400.1 | 153.5 | 153.5 | 153.5 | 181.7 | 186.7 | 186.7 | 186.7 | 186.7 | 186.7 | 186.7 | 186.7 | |
| Retained Earnings | 7,136.7 | 8,410.5 | 9,400.1 | 9,754.0 | 9,371.2 | ||||||||
| Adjustments for Reported Number discprencies | -541.1 | ||||||||||||
| Other | 4,248.8 | -541.1 | |||||||||||
| Exchange equalisation reserve | 6,225.3 | 15,219.7 | 18,047.5 | 15,752.2 | 16,308.1 | 16,308.1 | 16,308.1 | 16,308.1 | 16,308.1 | 16,308.1 | 16,308.1 | ||
| 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 | 17,764.2 | 28,225.9 | 32,043.4 | 30,130.2 | 30,448.8 | ||||||||
| Long Term Debt | From OA 3 | 197.6 | 5,581.2 | 6,238.7 | 4,139.9 | 5,264.0 | |||||||
| Financing and Lease Payables | From OA 4 | 654.7 | 930.4 | 1,341.0 | 1,229.4 | 1,262.1 | |||||||
| Deferred tax liabilities | 627.0 | 918.8 | 2,363.7 | 2,213.5 | 2,229.6 | 2,229.6 | 2,229.6 | 2,229.6 | 2,229.6 | 2,229.6 | 2,229.6 | ||
| Retirement benefit obligations | 520.4 | 424.8 | 568.6 | 875.4 | 940.0 | 940.0 | 940.0 | 940.0 | 940.0 | 940.0 | 940.0 | ||
| nan | nan | nan | nan | nan | nan | nan | nan | nan | nan | nan | nan | ||
| Non Current Liabilities | 1,999.7 | 7,855.2 | 10,511.9 | 8,458.2 | 9,695.7 | ||||||||
| Current Maturities of Long Term Debt | 0.0 | 0.0 | 0.0 | 1,074.8 | 0.0 | ||||||||
| Trade Payables | From OA 2.4 | 8,087.1 | 17,623.4 | 10,555.8 | 10,866.3 | 12,829.7 | |||||||
| 13. Amounts due to related parties | nan | nan | nan | nan | nan | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||
| Income Tax Liabilities | From OA 6 | 126.4 | 232.7 | 489.8 | 281.7 | 278.2 | |||||||
| Lease Liabilities | 13.7 | 43.1 | 114.1 | 112.6 | 124.1 | ||||||||
| Other Accruals | From OA 2.5 | ||||||||||||
| Other | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||
| Short Term Borrowings | 2,859.6 | 5,695.5 | 5,780.9 | 4,093.4 | 3,231.6 | ||||||||
| Bank Overdraft | 248.7 | 218.0 | 562.4 | 15.7 | 0.0 | ||||||||
| Bank Overdraft | 248.7 | 218.0 | 562.4 | 15.7 | 0.0 | nan | nan | nan | nan | nan | nan | ||
| Current Liabilities | 11,335.4 | 23,812.7 | 17,503.0 | 16,444.4 | 16,463.6 | ||||||||
| Total Equity and Liabilities | 31,099.3 | 59,893.8 | 60,058.2 | 55,032.7 | 56,608.1 | ||||||||
| 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 | -3,758.8 | ||||||||||||||
| 14. Pension Underfunding | From BS | ||||||||||||||
| 15. Other | User input cell | ||||||||||||||
| 14. Adjustment | User Input | ||||||||||||||
| 15. DCF Valuation - Equity Value | |||||||||||||||
| 16. Number of Shares | 716.7 | ||||||||||||||
| 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 | 30,130.2 | 2. Adjusted Multiple | 3. Valuation (Rs. Millions) | 1*2=3 | 4. Number of Shares (Millions) | 716.7 | 716.7 | 716.7 | 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 | 1341.498 | 0 | 0 |