Chennai-based defence electronics maker of radars, EW systems, avionics, communication & naval systems.
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| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 2 | 2 | 10 | 11 | 11 | 11 | 11 | 11 |
| Reserves | 152 | 206 | 564 | 1.2k | 1.3k | 1.5k | 1.5k | 1.7k |
| Borrowings | 61 | 37 | 9 | 2 | 4 | 6 | 6 | 5 |
| Other Liabilities | 81 | 84 | 123 | 265 | 364 | 325 | 209 | 188 |
| Total Liabilities | 295 | 329 | 707 | 1.4k | 1.7k | 1.8k | 1.8k | 1.9k |
| AssetsFixed Assets | 33 | 33 | 47 | 112 | 150 | 247 | 301 | 260 |
| CWIP | 0 | 0 | 17 | 1 | 48 | 49 | 13 | 74 |
| Investments | 0 | 0 | 0 | 56 | 262 | 327 | 252 | 329 |
| Other Assets | 262 | 295 | 642 | 1.3k | 1.2k | 1.2k | 1.2k | 1.3k |
| Total Assets | 295 | 329 | 707 | 1.4k | 1.7k | 1.8k | 1.8k | 1.9k |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | -4 | 13 | 55 | 50 | -17 | 139 | -90 | 80 |
| Cash from Investing | 0 | 1 | -3 | -118 | -383 | -224 | 89 | -3 |
| Cash from Financing | 2 | -14 | -45 | 236 | 438 | -43 | -50 | -58 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | -6 | 12 | 50 | 12 | -57 | 52 | -196 | 8 |
| 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 (70.0×) and current (99.5×) 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 30.1% growth and a 70× exit, ₹4822 only delivers your return if you pay ₹5,949. The price is currently baking in 25% growth.
EPS grows 30.1%/yr for 5 years, then fades to 6% over 2, exits at 70×.
| Year | Growth | EPS (₹) |
|---|---|---|
| FY27 | 30.1% | 63.06 |
| FY28 | 30.1% | 82.04 |
| FY29 | 30.1% | 106.73 |
| FY30 | 30.1% | 138.86 |
| FY31 | 30.1% | 180.66 |
| FY32 | 18.1% ·fade | 213.27 |
| FY33 | 6.0% ·fade | 226.06 |
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.