Odisha-based integrated iron & steel manufacturer producing sponge iron, pig iron, MS billet/ingot and TMT bars, with captive waste-heat power generation.
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| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 |
| Reserves | 34 | 43 | 67 | 92 | 119 | 138 | 144 | 155 |
| Borrowings | 87 | 66 | 61 | 54 | 41 | 21 | 13 | 7 |
| Other Liabilities | 17 | 9 | 5 | 15 | 14 | 12 | 16 | 14 |
| Total Liabilities | 149 | 130 | 145 | 172 | 186 | 183 | 183 | 187 |
| AssetsFixed Assets | 82 | 75 | 74 | 84 | 75 | 69 | 68 | 65 |
| CWIP | 0 | 0 | 0 | 0 | 1 | 3 | 1 | 1 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 11 | 15 |
| Other Assets | 67 | 54 | 71 | 88 | 110 | 111 | 104 | 106 |
| Total Assets | 149 | 130 | 145 | 172 | 186 | 183 | 183 | 187 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 20 | 0 | 33 | 13 | 33 | 31 | 30 | 40 |
| Cash from Investing | -28 | -16 | -2 | -7 | -19 | -1 | -5 | -30 |
| Cash from Financing | 8 | 16 | -28 | -9 | -13 | -18 | -24 | -18 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | -7 | -17 | 31 | 6 | 14 | 30 | 26 | 39 |
| FCF Margin | — | — | — | — | — | — | — | — |
The Earnings Per Share over the last 12 months.
Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).
Pre-filled with the lower of median (16.0×) and current (14.8×) PE — the conservative anchor.
The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.
At -11% growth and a 15× exit, ₹239 only delivers your return if you pay ₹52. The price is currently baking in 17% growth.
EPS grows -11%/yr for 5 years, then fades to 6% over 2, exits at 15×.
| Year | Growth | EPS (₹) |
|---|---|---|
| FY27 | -11.0% | 14.34 |
| FY28 | -11.0% | 12.76 |
| FY29 | -11.0% | 11.36 |
| FY30 | -11.0% | 10.11 |
| FY31 | -11.0% | 9.00 |
| FY32 | -2.5% ·fade | 8.77 |
| FY33 | 6.0% ·fade | 9.30 |
Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.
Guides on how to read this kind of business and the numbers that matter.