Himachal Pradesh-based manufacturer of Pick & Carry cranes (9-30 Ton) and tractors (16-110 HP) under the Indo Farm and Indo Power brands, with a captive NBFC arm financing its equipment.
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| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 9 | 9 | 19 | 19 | 38 | 48 | 48 | 48 |
| Reserves | 245 | 252 | 256 | 272 | 280 | 483 | 494 | 508 |
| Borrowings | 198 | 235 | 275 | 281 | 272 | 173 | 180 | 150 |
| Other Liabilities | 34 | 55 | 70 | 52 | 59 | 57 | 63 | 64 |
| Total Liabilities | 486 | 551 | 620 | 623 | 648 | 762 | 785 | 770 |
| AssetsFixed Assets | 172 | 184 | 194 | 206 | 202 | 214 | 214 | 211 |
| CWIP | 18 | 14 | 20 | 8 | 5 | 9 | 14 | 29 |
| Investments | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 296 | 353 | 405 | 408 | 441 | 539 | 556 | 530 |
| Total Assets | 486 | 551 | 620 | 623 | 648 | 762 | 785 | 770 |
| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 28 | 1 | 10 | 30 | 41 | 53 | 30 |
| Cash from Investing | -15 | -16 | -26 | -8 | -3 | -75 | 25 |
| Cash from Financing | -13 | 15 | 16 | -22 | -26 | 68 | -41 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — |
| Free Cash Flow | 11 | -15 | -15 | 21 | 38 | 26 | 0 |
| 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 (28.9×) and current (30.9×) 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 4.9% growth and a 29× exit, ₹159 only delivers your return if you pay ₹80. The price is currently baking in 19% growth.
EPS grows 4.9%/yr for 5 years, then fades to 6% over 2, exits at 29×.
| Year | Growth | EPS (₹) |
|---|---|---|
| FY27 | 4.9% | 5.39 |
| FY28 | 4.9% | 5.66 |
| FY29 | 4.9% | 5.93 |
| FY30 | 4.9% | 6.22 |
| FY31 | 4.9% | 6.53 |
| FY32 | 5.5% ·fade | 6.88 |
| FY33 | 6.0% ·fade | 7.30 |
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.