| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| APLAPOLLO | SWASTIK | HARIOMPIPE | HITECH | RAMASTEEL | | VSTL | |
| NSEI:APLAPOLLO | NSEI:SWASTIK | NSEI:HARIOMPIPE | NSEI:HITECH | NSEI:RAMASTEEL | | NSEI:VSTL | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 20.4% | 0.0% | 53.9% | 14.7% | 15.7% | | 12.3% | |
| 3Y CAGR | 28.7% | 11.5% | 65.6% | 26.3% | 30.5% | | 28.1% | |
| Latest Twelve Months | 12.2% | -4.3% | 20.0% | 10.8% | -11.7% | | NM | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 5.8% | 3.0% | 10.4% | 4.3% | 4.0% | | 3.3% | |
| Prior Fiscal Year | 5.5% | 3.2% | 11.3% | 3.7% | 3.8% | | 3.5% | |
| Latest Fiscal Year | 5.6% | 2.6% | 9.1% | 3.7% | 5.3% | | 3.8% | |
| Latest Twelve Months | 4.4% | 2.3% | 9.5% | 4.6% | 3.7% | | 2.8% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 2.14x | 0.28x | 1.07x | 0.82x | 1.53x | | 0.41x | |
| EV / LTM EBIT | 48.4x | 11.8x | 11.2x | 17.9x | 41.5x | | 14.4x | |
| Price / LTM Sales | 2.13x | 0.14x | 0.81x | 0.71x | 1.44x | | 0.29x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.28x | 1.07x | 2.14x | | | | | |
| Historical EV / LTM Revenue | 0.00x | NM | 0.00x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 0.52x | 0.55x | 0.58x | | | | | |
| (x) LTM Revenue | 9,993 | 9,993 | 9,993 | | | | | |
| (=) Implied Enterprise Value | 5,210 | 5,484 | 5,758 | | | | | |
| (-) Non-shareholder Claims * | (1,200) | (1,200) | (1,200) | | | | | |
| (=) Equity Value | 4,010 | 4,284 | 4,558 | | | | | |
| (/) Shares Outstanding | 19.0 | 19.0 | 19.0 | | | | | |
| Implied Value Range | 211.46 | 225.92 | 240.38 | | | | | |
| FX Rate: INR/INR | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 211.46 | 225.92 | 240.38 | | 147.73 | | | |
| Upside / (Downside) | 43.1% | 52.9% | 62.7% | | | | | |