Gujarat-based manufacturer of TMT reinforcement steel bars (8mm-32mm) sold under the Kamdhenu brand to the construction and infrastructure sector on a B2B basis.
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| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 12 | 12 | 12 | 12 | 17 | 25 | 25 | 25 |
| Reserves | 14 | 19 | 25 | 27 | 30 | 75 | 75 | 78 |
| Borrowings | 43 | 36 | 47 | 50 | 54 | 76 | 90 | 79 |
| Other Liabilities | 8 | 10 | 8 | 8 | 46 | 21 | 27 | 10 |
| Total Liabilities | 78 | 77 | 92 | 97 | 148 | 197 | 216 | 193 |
| AssetsFixed Assets | 32 | 32 | 31 | 31 | 33 | 32 | 34 | 47 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 2 | 13 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 45 | 45 | 60 | 66 | 115 | 163 | 169 | 146 |
| Total Assets | 78 | 77 | 92 | 97 | 148 | 197 | 216 | 193 |
| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | -2 | 22 | -6 | 8 | 5 | -44 | 4 |
| Cash from Investing | -3 | -1 | 0 | -1 | -2 | -9 | -5 |
| Cash from Financing | 5 | -12 | -3 | -7 | 0 | 57 | -5 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — |
| Free Cash Flow | -6 | 21 | -7 | 7 | 3 | -47 | -11 |
| 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 (3.3×) and current (4.8×) 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 10% growth and a 3× exit, ₹26 only delivers your return if you pay ₹11. The price is currently baking in 28% growth.
EPS grows 10%/yr for 5 years, then fades to 6% over 2, exits at 3×.
| Year | Growth | EPS (₹) |
|---|---|---|
| FY27 | 10.0% | 5.92 |
| FY28 | 10.0% | 6.51 |
| FY29 | 10.0% | 7.16 |
| FY30 | 10.0% | 7.88 |
| FY31 | 10.0% | 8.66 |
| FY32 | 8.0% ·fade | 9.36 |
| FY33 | 6.0% ·fade | 9.92 |
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.