Gujarat-based manufacturer of underground mining equipment (LHDs, side dump loaders, continuous miner packages, battery-operated vehicles) and construction equipment (piling rigs, wheel loaders), incorporated 1974.
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| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 |
| Reserves | 310 | 318 | 324 | 343 | 380 | 426 | 443 | 462 |
| Borrowings | 3 | 2 | 0 | 1 | 0 | 0 | 2 | 4 |
| Other Liabilities | 32 | 41 | 32 | 37 | 64 | 56 | 49 | 52 |
| Total Liabilities | 350 | 367 | 362 | 387 | 450 | 488 | 500 | 524 |
| AssetsFixed Assets | 78 | 87 | 81 | 76 | 73 | 70 | 71 | 75 |
| CWIP | 11 | 0 | 0 | 1 | 0 | 1 | 3 | 2 |
| Investments | 153 | 155 | 153 | 165 | 180 | 226 | 236 | 205 |
| Other Assets | 109 | 125 | 128 | 146 | 197 | 191 | 190 | 243 |
| Total Assets | 350 | 367 | 362 | 387 | 450 | 488 | 500 | 524 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 10 | 11 | 3 | -10 | 7 | 12 | 33 | 22 |
| Cash from Investing | -8 | -3 | 3 | 8 | -5 | -2 | -36 | -22 |
| Cash from Financing | -3 | -5 | -3 | -5 | -2 | -4 | -4 | -1 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | -1 | 2 | -3 | -12 | 4 | 7 | 27 | -37 |
| 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 (22.5×) and current (23.3×) 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 21.4% growth and a 23× exit, ₹1596 only delivers your return if you pay ₹1,887. The price is currently baking in 18% growth.
EPS grows 21.4%/yr for 5 years, then fades to 6% over 2, exits at 23×.
| Year | Growth | EPS (₹) |
|---|---|---|
| FY27 | 21.4% | 83.35 |
| FY28 | 21.4% | 101.19 |
| FY29 | 21.4% | 122.85 |
| FY30 | 21.4% | 149.13 |
| FY31 | 21.4% | 181.05 |
| FY32 | 13.7% ·fade | 205.85 |
| FY33 | 6.0% ·fade | 218.20 |
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.