Manufactures diesel engines for Mahindra's Swaraj-brand tractors from a single plant in Mohali, Punjab.
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| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 |
| Reserves | 224 | 268 | 294 | 330 | 356 | 407 | 380 | 477 |
| Borrowings | 0 | 0 | 0 | 1 | 1 | 2 | 1 | 2 |
| Other Liabilities | 119 | 178 | 156 | 193 | 187 | 251 | 279 | 288 |
| Total Liabilities | 355 | 458 | 461 | 536 | 557 | 672 | 671 | 779 |
| AssetsFixed Assets | 103 | 92 | 95 | 88 | 76 | 110 | 112 | 107 |
| CWIP | 4 | 1 | 2 | 2 | 38 | 5 | 5 | 55 |
| Investments | 111 | 34 | 36 | 26 | 20 | 19 | 40 | 19 |
| Other Assets | 136 | 331 | 329 | 420 | 423 | 538 | 514 | 598 |
| Total Assets | 355 | 458 | 461 | 536 | 557 | 672 | 671 | 779 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 69 | 100 | 28 | 100 | 133 | 142 | 177 | 117 |
| Cash from Investing | 4 | -27 | 56 | -48 | -38 | -30 | -58 | 22 |
| Cash from Financing | -73 | -73 | -49 | -84 | -97 | -112 | -116 | -128 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | 35 | 84 | 23 | 82 | 122 | 97 | 152 | 47 |
| 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 (23.1×) and current (23.6×) 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 13.7% growth and a 23× exit, ₹3928 only delivers your return if you pay ₹3,179. The price is currently baking in 18% growth.
EPS grows 13.7%/yr for 5 years, then fades to 6% over 2, exits at 23×.
| Year | Growth | EPS (₹) |
|---|---|---|
| FY27 | 13.7% | 188.92 |
| FY28 | 13.7% | 214.81 |
| FY29 | 13.7% | 244.23 |
| FY30 | 13.7% | 277.70 |
| FY31 | 13.7% | 315.74 |
| FY32 | 9.8% ·fade | 346.84 |
| FY33 | 6.0% ·fade | 367.65 |
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.