Ahmedabad-based electrical EPC contractor executing power transmission, distribution, and substation projects for airports, telecom, industry and government, now expanding into busduct/switchgear manufacturing via subsidiary PECL.
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Industrials
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| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 7 | 9 | 13 | 13 | 16 | 17 | 18 | 21 |
| Reserves | 23 | 28 | 33 | 39 | 80 | 93 | 100 | 126 |
| Borrowings | 22 | 29 | 32 | 15 | 17 | 18 | 22 | 24 |
| Other Liabilities | 12 | 32 | 30 | 42 | 39 | 45 | 47 | 48 |
| Total Liabilities | 64 | 97 | 107 | 107 | 152 | 173 | 187 | 219 |
| AssetsFixed Assets | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 |
| CWIP | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 13 | 13 |
| Other Assets | 63 | 95 | 105 | 106 | 150 | 172 | 172 | 204 |
| Total Assets | 64 | 97 | 107 | 107 | 152 | 173 | 187 | 219 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 0 | 3 | -1 | -3 | 1 | 8 | -40 | -8 |
| Cash from Investing | 0 | 0 | 0 | 1 | -4 | 0 | -12 | -13 |
| Cash from Financing | 3 | -4 | 1 | 2 | 4 | -8 | 52 | 24 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | -1 | 3 | -1 | -3 | 1 | 8 | -40 | -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 (18.4×) and current (15.4×) 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 52.9% growth and a 15× exit, ₹112 only delivers your return if you pay ₹471. The price is currently baking in 18% growth.
EPS grows 52.9%/yr for 5 years, then fades to 6% over 2, exits at 15×.
| Year | Growth | EPS (₹) |
|---|---|---|
| FY27 | 52.9% | 11.15 |
| FY28 | 52.9% | 17.04 |
| FY29 | 52.9% | 26.06 |
| FY30 | 52.9% | 39.84 |
| FY31 | 52.9% | 60.92 |
| FY32 | 29.4% ·fade | 78.86 |
| FY33 | 6.0% ·fade | 83.59 |
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.