| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| DHARMAJ | HERANBA | UPL | 524288 | ARIES | | 543311 | |
| NSEI:DHARMAJ | NSEI:HERANBA | NSEI:UPL | BSE:524288 | NSEI:ARIES | | BSE:543311 | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 36.2% | 4.6% | 14.6% | 0.5% | 14.2% | | 14.8% | |
| 3Y CAGR | 29.3% | 1.0% | 3.7% | 5.2% | 10.6% | | 1.6% | |
| Latest Twelve Months | 40.1% | 5.8% | -1.0% | -14.0% | 19.4% | | -0.6% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 8.3% | 11.4% | 13.7% | 1.2% | 10.3% | | 20.9% | |
| Prior Fiscal Year | 7.0% | 10.3% | 16.1% | -0.1% | 8.5% | | 21.0% | |
| Latest Fiscal Year | 8.8% | 4.5% | 6.4% | -5.5% | 9.2% | | 10.5% | |
| Latest Twelve Months | 6.3% | 6.1% | 8.8% | -3.4% | 9.5% | | 10.0% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.87x | 0.80x | 2.00x | 0.52x | 0.58x | | 1.98x | |
| EV / LTM EBIT | 13.8x | 13.0x | 22.7x | -15.2x | 6.1x | | 19.8x | |
| Price / LTM Sales | 0.71x | 0.64x | 1.19x | 0.40x | 0.55x | | 2.06x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.52x | 0.80x | 2.00x | | | | | |
| Historical EV / LTM Revenue | 2.70x | 3.06x | 4.27x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 2.64x | 2.78x | 2.92x | | | | | |
| (x) LTM Revenue | 7,477 | 7,477 | 7,477 | | | | | |
| (=) Implied Enterprise Value | 19,742 | 20,781 | 21,820 | | | | | |
| (-) Non-shareholder Claims * | 585 | 585 | 585 | | | | | |
| (=) Equity Value | 20,326 | 21,365 | 22,405 | | | | | |
| (/) Shares Outstanding | 115.2 | 115.2 | 115.2 | | | | | |
| Implied Value Range | 176.50 | 185.52 | 194.55 | | | | | |
| FX Rate: INR/INR | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 176.50 | 185.52 | 194.55 | | 134.25 | | | |
| Upside / (Downside) | 31.5% | 38.2% | 44.9% | | | | | |