BSE: SUNDARMFIN - Sundaram Finance Limited

Price = EPS * (1 + CAGR EPS) / (Key Rate * Excess Key Rate)
EPS = Earning Per Share
CAGR EPS = CAGR 5 EPS
Key Rate — 关键利率
Excess Key Rate — 期望超出关键利率
EPS = 130.3
CAGR EPS = 12.64%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 130.3 * (1 + 12.64%) / (0.0433 * 2) = 1694.85

Price = (Terminal Value + Company Value) / Count shares
Price - 价格公道
Terminal Value — 预测后期间的成本
Company Value — 预测期内的成本
Count shares - 股份数量
Terminal Value = Discount Ebitda(5) * (1 + Ebitda Yield) / (WACC - Ebitda Yield)
Company Value = ∑ (Discount Ebitda / (1 + WACC) ^ 5)
Discount Ebitda(5) = 55.61
Ebitda Yield = 0.0892
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - 偿债成本
Debt - 责任
Weight Debt - 相对于债务的资本权重
Weight Cost Debt - 债务权重相对于资本总额
Tax - 税
Interest Expense = 34.18
Debt = 358.81
Market Cap = 287.79
Weight Debt = Market Cap / (Market Cap + Debt) = 287.79 / (287.79 + 358.81) = 0.4451
Weight Cost Debt = 100% - 0.4451 = 0.5549
Tax = 0.21
Cost Of Equity — 贴现率
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — 无风险回报率
β (beta) — 确定股票（资产）相对于市场的风险度量，并显示股票盈利能力变化相对于市场盈利能力变化的敏感性。
Risk Premium — 风险溢价——投资股票的风险溢价
Country Premium - 国家风险
k(f) = 2.39
β = -0.3045
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.39 + -0.3045 * 5.94 + 0 = 0.0058
WACC = (34.18 / 358.81) * (100% - 0.4451) * (1 - 0.21) + 0.0058 + 0.4451 = 7.49
Terminal Value = Discount (55.61 * (1 + 0.0892) / (7.49 - 0.0892)) = 2959.06
Company Value = ∑ (55.61 / (1 + 7.49) ^ 5) = 188.73
Price = (Terminal Value + Company Value) / Count shares = (2959.06 + 188.73) / 110210000 = 28561.76

Price = (Terminal Value + Company Value) / Count shares
Price - 价格公道
Terminal Value — 预测后期间的成本
Company Value — 预测期内的成本
Count shares - 股份数量
Terminal Value = Discount FCF(5) * (1 + FCF Yield) / (WACC - FCF Yield)
Company Value = ∑ (Discount FCF / (1 + WACC) ^ 5)
Discount FCF(5) = -8784.16
FCF Yield = 1.52
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - 偿债成本
Debt - 责任
Weight Debt - 相对于债务的资本权重
Weight Cost Debt - 债务权重相对于资本总额
Tax - 税
Interest Expense = 34.18
Debt = 358.81
Market Cap = 287.79
Weight Debt = Market Cap / (Market Cap + Debt) = 287.79 / (287.79 + 358.81) = 0.4451
Weight Cost Debt = 100% - 0.4451 = 0.5549
Tax = 0.21
Cost Of Equity — 贴现率
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — 无风险回报率
β (beta) — 确定股票（资产）相对于市场的风险度量，并显示股票盈利能力变化相对于市场盈利能力变化的敏感性。
Risk Premium — 风险溢价——投资股票的风险溢价
Country Premium - 国家风险
k(f) = 2.39
β = -0.3045
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.39 + -0.3045 * 5.94 + 0 = 0.0058
WACC = (34.18 / 358.81) * (100% - 0.4451) * (1 - 0.21) + 0.0058 + 0.4451 = 7.49
Terminal Value = Discount (-8784.16 * (1 + 1.52) / (7.49 - 1.52)) = -10659.37
Company Value = ∑ (-8784.16 / (1 + 7.49) ^ 5) = -10510.12
Price = (Terminal Value + Company Value) / Count shares = (-10659.37 + -10510.12) / 110210000 = -192083.17