CAMPUS ACTIVEWEAR LTD SCREENER.

IN

Narration Mar-12 Mar-13 Mar-14 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24
Cash from Operating Activity - - - - 22.37 -20.90 124.73 17.87 126.47 264.47
Cash from Investing Activity - - - - -23.39 -55.19 -8.84 -34.08 -69.68 -74.49
Cash from Financing Activity - - - - 1.20 88.89 -129.40 15.53 -33.15 -192.47
Net Cash Flow - - - - 0.18 12.80 -13.50 -0.69 23.64 -2.49
Enter Fixed Assets Expenditure 4.24 -0.28 8.8 19.39 13.9 30.24 22.97 22.65 73.5 40.74
using screener in +
Free Cash Flow (4.24) 0.28 (8.80) (19.39) 8.47 (51.14) 101.76 (4.78) 52.97 223.73
Cash EPS #DIV/0! #DIV/0! #DIV/0! - 2,237.00 -1.38 8.21 0.59 4.15 8.66
Reinvestment(capex/cfo) #DIV/0! #DIV/0! #DIV/0! #DIV/0! 62% -145% 18% 127% 58% 15%
Cumulative of 10 years
CFO 535.01
CFI -265.67
CFF -249.40

-4.24 0.28 -8.8 -19.39 -13.9 -30.24 -22.97 -22.65 -73.5 -40.74
 Report Date Mar-12 Mar-13 Mar-14 Mar-18
CAMPUS ACTIVEWEAR LTD
Balance Sheet
Equity Share Capital #DIV/0! #DIV/0! #DIV/0! 0.03%
Reserves #DIV/0! #DIV/0! #DIV/0! 40.59%
Borrowings #DIV/0! #DIV/0! #DIV/0! 32.19%
Other Liabilities #DIV/0! #DIV/0! #DIV/0! 27.20%

Total Liabilities #DIV/0! #DIV/0! #DIV/0! 100.00%

Net Block #DIV/0! #DIV/0! #DIV/0! 12.15%

Capital Work in Progress #DIV/0! #DIV/0! #DIV/0! 2.73%
Investments #DIV/0! #DIV/0! #DIV/0! 9.34%
Other Assets #DIV/0! #DIV/0! #DIV/0! 75.78%
As a % of total assets
Receivables #DIV/0! #DIV/0! #DIV/0! 32.20%
Inventory #DIV/0! #DIV/0! #DIV/0! 19.15%
Cash & Bank #DIV/0! #DIV/0! #DIV/0! 0.36%

Total Assets #DIV/0! #DIV/0! #DIV/0! 100.00%

 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24
AMPUS ACTIVEWEAR LTD
Balance Sheet
0.02% 23.21% 22.13% 15.79% 12.86% 13.69%
46.32% 20.26% 23.43% 28.58% 33.76% 44.75%
28.85% 37.49% 25.83% 29.99% 28.29% 15.94%
24.81% 19.04% 28.62% 25.64% 25.10% 25.63%

100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

12.19% 22.35% 37.10% 33.43% 31.51% 31.72%

5.59% 5.38% 0.04% 0.26% 0.32% 1.80%
14.01% 0.03% 0.00% 0.00% 0.00% 0.00%
68.21% 72.24% 62.86% 66.31% 68.17% 66.48%

25.00% 20.77% 14.31% 13.87% 14.92% 10.60%

22.22% 23.67% 30.15% 37.12% 38.62% 37.21%
0.37% 9.08% 0.15% 0.04% 2.03% 2.22%

100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Report Date Mar-12 Mar-13 Mar-14 Mar-18 Mar-19
Leverage Ratios

D/E #DIV/0! #DIV/0! #DIV/0! 0.79 0.62

Debt/Assets #DIV/0! #DIV/0! #DIV/0! 0.32 0.29
Debt/Ebitda #DIV/0! #DIV/0! #DIV/0! 2.40 2.21
Debt/Capital Ratio #DIV/0! #DIV/0! #DIV/0! 44% 38%
Cash flow/Debt #DIV/0! #DIV/0! #DIV/0! 0.00 0.18
Interest coverage ratio #DIV/0! #DIV/0! #DIV/0! 3.1 5.1
Sales Change #DIV/0! #DIV/0! #DIV/0! 13%
Ebit Change #DIV/0! #DIV/0! #DIV/0! 20%
Operating Leverage #DIV/0! #DIV/0! #DIV/0! 1.5
Financial Leverage #DIV/0! #DIV/0! #DIV/0! 2.5 2.2
Debt Burden Ratio #DIV/0! #DIV/0! #DIV/0! (0.15) 0.07
Efficiency ratios
Report Date Mar-12 Mar-13 Mar-14 Mar-18 Mar-19
Receivable days 0.00 0.00 0.00 113.30 86.39
Receivable turnover #DIV/0! #DIV/0! #DIV/0! 3.2 4.2
Inventory days #DIV/0! #DIV/0! #DIV/0! 77.4 87.6
Inventory turnover #DIV/0! #DIV/0! #DIV/0! 5.4 4.8
Net Fixed assets turnove #DIV/0! #DIV/0! #DIV/0! 8.5 8.7
Sales/capital employed #DIV/0! #DIV/0! #DIV/0! 1.42 1.40
Total Asset Turnover #DIV/0! #DIV/0! #DIV/0! 1.04 1.06

Profitability ratios
Report Date Mar-12 Mar-13 Mar-14 Mar-18 Mar-19
Ebitda - - - 52.91 57.31
Ebitda margin #DIV/0! #DIV/0! #DIV/0! 13% 12%
Gross Profit 0.00 0.00 0.00 154.54 185.14
Gross Profit Margin #DIV/0! #DIV/0! #DIV/0! 38% 40%
EBIT 0 0 0 62.07 74.35
EBIT Margin #DIV/0! #DIV/0! #DIV/0! 15% 16%
ROE 20% 20%
Net profit margin #DIV/0! #DIV/0! #DIV/0! 8% 9%
EPS 0.00 0.00 0.00 3146.00 4018.00
DU Pont ROE #DIV/0! #DIV/0! #DIV/0! 20% 20%
Net Profit Margin #DIV/0! #DIV/0! #DIV/0! 8% 9%
Sales/Total assets #DIV/0! #DIV/0! #DIV/0! 1.04 1.06
Financial Leverage #DIV/0! #DIV/0! #DIV/0! 2.46 2.16

DU PONT ROA #DIV/0! #DIV/0! #DIV/0! 8.0% 9.1%

Net Profit Margin #DIV/0! #DIV/0! #DIV/0! 8% 9%
Sales/Total assets #DIV/0! #DIV/0! #DIV/0! 1.04 1.06

Capital Allocation Ratios Mar-12 Mar-13 Mar-14 Mar-18 Mar-19

ROCE 0% 43% 24%
EBIT Margin #DIV/0! #DIV/0! #DIV/0! 15% 16%
Sales/cap employed #DIV/0! #DIV/0! #DIV/0! 1.42 1.40
NOPAT #DIV/0! #DIV/0! #DIV/0! 46.5 49.9
Capital employed 0 0 0 285.98 328.59
ROIC #DIV/0! #DIV/0! #DIV/0! 16% 15%

10 year profit change #DIV/0!

5 year profit change 10%
10 year mcap change #VALUE!
5 year mcap change #VALUE!

Capex Ratios
Capex/Net Profits 10yr 50%
Capex/Net Profits 5 yr 47%
Capex/Net Profits 3 yr 45%
Capex/Depreciation 10yr 89%

Valuation Ratios Mar-12 Mar-13 Mar-14 Mar-18 Mar-19

Price/Earnings
Price/Book #DIV/0! #DIV/0! #DIV/0! 0.00 0.00
Price/CashFlow #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Price/Sales #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Enterprise Value #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
EV/EBITDA #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
MAX Pe in Last 10 years 101.2
Max Ev/Ebitda in Last 10 y #VALUE!
Max P/B #DIV/0!
Mar-20 Mar-21 Mar-22 Mar-23 Mar-24

0.86 0.57 0.68 0.61 0.27

0.37 0.26 0.30 0.28 0.16
3.41 1.53 1.19 1.32 0.84
46% 36% 40% 38% 21%
-0.09 0.70 0.06 0.38 1.49
6.8 5.1 9.8 6.5 6.2
36% 12% 68% 24% -2%
19% -1% 120% -3% -23%
0.5 -0.1 1.8 -0.1 9.4
2.3 2.2 2.3 2.1 1.7
(0.21) 0.57 (0.02) 0.16 1.26

Mar-20 Mar-21 Mar-22 Mar-23 Mar-24

78.35 50.39 40.86 43.44 29.80
4.7 7.2 8.9 8.4 12.2
100.7 126.8 137.2 135.7 122
4.1 3.4 3.3 3.2 3.5
4.3 2.8 3.7 4.0 4.1
1.19 1.45 1.67 1.67 1.75
0.97 1.04 1.24 1.25 1.30

Mar-20 Mar-21 Mar-22 Mar-23 Mar-24

71.88 115.57 242.90 253.57 210.99
11% 16% 20% 17% 15%
228.90 324.77 591.01 732.27 752.83
36% 46% 49% 49% 52%
88.4 87.08 191.33 185.28 143.23
14% 12% 16% 12% 10%
21% 9% 25% 21% 14%
10% 4% 9% 8% 6%
3.97 1.77 3.57 3.84 2.93
21% 9% 25% 21% 14%
10% 4% 9% 8% 6%
0.97 1.04 1.24 1.25 1.30
2.30 2.20 2.25 2.15 1.71

9.2% 3.9% 11.3% 9.9% 8.0%

10% 4% 9% 8% 6%
0.97 1.04 1.24 1.25 1.30

Mar-20 Mar-21 Mar-22 Mar-23 Mar-24

21% 17% 32% 23% 17%
14% 12% 16% 12% 10%
1.19 1.45 1.67 1.67 1.75
 70.7 33.5 120.9 138.6 106.7
470.35 488.83 716.22 863.13 804.61
15% 7% 17% 16% 13%

Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Trailing

86.7 73.2 101.2
0.00 0.00 0.00 18.39 10.05
#VALUE! #VALUE! #VALUE! 80 25 #DIV/0!
#VALUE! #VALUE! #VALUE! 6.84 4.52
#VALUE! #VALUE! #VALUE! 10466.66 6701.64
#VALUE! #VALUE! #VALUE! 41.3 31.8
 Capital allocation is the number one thing we look f
Report Date Mar-12 Mar-13 Mar-14 Mar-18 Mar-19
Net profit - - - 31.46 40.18
Dividend Payout 0 0 0 0 0
Retained Earnings 0 0 0 31.46 40.18
MCAP #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!

Earnings Retention TestTotal Earnings retain Change in MCA PER Rs Mcap

10 years 473.93 #VALUE! #VALUE!

5 years 402.29 #VALUE! #VALUE!

ROIC #DIV/0! #DIV/0! #DIV/0! 16% 15%

Cost of capital 10% 10% 10% 10% 10%
Cost of capital in cr 0.00 0.00 0.00 28.60 32.86
Economic value added #DIV/0! #DIV/0! #DIV/0! 17.93 17.02
(NOPAT-Cost of capital)

Rolling ROIIC #DIV/0! #DIV/0! 3%

ROIIC 3 year Rolling
ROIIC 5 Year Rolling

Intrinsic Compounding Table

Report Date Mar-12 Mar-13 Mar-14 Mar-18 Mar-19
PAT 0.0 0.0 0.0 31.5 40.2
Capital Employed 0 0 0 285.98 328.59

Cumulative PAT 473.9

Incremental Capital
Employed 804.61
Reinvestment Rate 170%

Return on incremental
capital
employed/Intrinsic Stock Cagr 10
compunding rate 11% year #VALUE!
Stock Cagr 5
year #VALUE!
e thing we look for in managements
Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 TTM
60.32 26.87 108.54 117.12 89.44
0 0 0 0 0
60.32 26.87 108.54 117.12 89.44
#VALUE! #VALUE! #VALUE! 10155.651 6548.685 9,847.48
Compound Change in mcap/change
Multiple in profit

10yr #VALUE!

5yr #VALUE!

15% 7% 17% 16% 13%

10% 10% 10% 10% 10%
47.04 48.88 71.62 86.31 80.46
23.65 -15.42 49.32 52.26 26.27

47% -24% 442% 4% 47%

18% -1% 34% 15% 16%
6% 22% 12% 9%

nding Table
Mar-20 Mar-21 Mar-22 Mar-23 Mar-24
60.3 26.9 108.5 117.1 89.4
470.35 488.83 716.22 863.13 804.61

1000
900
800
700
600
500 Capital Employed
PAT
400
300
200
100
0
1 2 3 4 5 6 7 8 9 10
Year Mar-12 Mar-13 Mar-14 Mar-18 Mar-19

GP Margin #DIV/0! #DIV/0! #DIV/0! 38% 40%

Ebitda Margin #DIV/0! #DIV/0! #DIV/0! 13% 12%

Net Profit Margin #DIV/0! #DIV/0! #DIV/0! 8% 9%
ROIC #DIV/0! #DIV/0! #DIV/0! 16% 15%
ROCE 0% 43% 24%
ROE 20% 20%
EPS - - - 3,146.00 4,018.00

60%

50%

40%

GP Margin
30%
Ebitda Margi
Net Profit Ma
20%

10%

0%
1 2 3 4 5 6 7 8 9 10

Average GP #DIV/0!
Average Ebitda margin #DIV/0!
Average Net Profit margin #DIV/0!
Average ROE 18%
Average ROIC #DIV/0!
Average ROCE 22%
 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24

36% 46% 49% 49% 52% Things To Look For

11% 16% 20% 17% 15% Stable/Expanding Margins
10% 4% 9% 8% 6% ROIC above 15% over the years
15% 7% 17% 16% 13% ROE Above 15% over the years
21% 17% 32% 23% 17% ROCE Above 15% over the years
21% 9% 25% 21% 14%
3.97 1.77 3.57 3.84 2.93

Return Ratios
ROIC ROCE ROE

20%
25%
GP Margin
Ebitda Margin 43% 20% 21%
Net Profit Margin
32%
24%
21%
9%
17%
16% 15% 15% 17%
7%
0% 0% 0%
9 10 1 2 3 4 5 6 7 8
To Look For
ding Margins PRICING POWER
5% over the years
5% over the years Business abilitiy to protect its profitability
15% over the years

tios
ROE

25%

21%
21%
32%
14%
23%
21%
9% 17%
17%
15% 17% 16% 13%
7%
7 8 9 10
Checklist for finding frauds

1) CUM PAT VS CUM CFO of last 10 years and in block of 3 years+ CFO/Ebitda > 0.7
2) Volatility in Depreciation Rate as a percentage of sales

3) Cash Yield
4) Increasing Receivables>Increasing sales
5) Miscellaneous Expenses
6) Sales being done to subsidiary
7) Always check for segmental break up of revenue
8) Company paying dividend in slow down or not

1) Check for contingent liabilites

2) Check for goodwill/intangibles as a % of networth

3) Check for provisions in trade receivables

4) Check for Auditors CARO REPORT (Annexure A OR B)

5) Check for unusual write offs in the past

6) Check for write offs from equity

1) Very high CFI without purchase of fixed assets

2) Lack of FCFE generation

3) CFF very high and excessive share issues

1) Past claims of the management and track with current performance

2) Channel checks

3) Google Fraud checks

4) Industry checks
5) Glassdoor and linkedin checks

6) Stock Pledge
Auditor
checks
1) Look for KEY AUDIT OBSERVATIONS
2) Look for Auditors opinion on internal control
3) Always read CARO report
What this does,it tells us whether Acrrual Profits are being
converted into real profits or not
Company chaging depreciation assets life constantly?
Company earning more than Risk free rate or not on the
cash>5%
Incremental sales of poor quality
If high, then doubt if expenses are real?
Kitex and Bharat RASAYAN Related Party Transactions
Kwality Ltd- sales being done in Trading (low margin)
EG- Compare Balaji Amines and Alkyl Amines DPO

Off the balance sheet items, which can wipe off equity if
too high, shouldn't be more than 5%

eg- What happened with 8k miles and Tanla solutions. If

greater than 10%, Avoid unless know goodwill acccounting.
Eg- Kwality Dairy, Parag Milk foods, if provisions are more
than 5-10% of trade receivables, Avoid
Auditor usually rectifies the assets of the company. Eg-
Denis Chem Lab, Radico Khaitan (2012-2015)
Previously written off Trade receivables or goodwill or
advances

Usually can be found in Auditors report or use Change in

reserves (excluding share premium) to net income
excluding divdends- A ratio less than 1 would show knock
off from equity. Eg- Godrej Properties, UPL

Check if Cash is being accumulated on balance sheet and

where it is being used eg- GM Breweries
Check if Free cash flow is lumpy, if lumpy then what is the
reason?
If dilutions are frequent, Avoid

Check kitex management interviews- All talk and no show

fictitious market presence like Manapasand and vakrangee

type in managements name with "legal","SEBI" OR "Fraud",
Moneylife
Check with competitors, Just ask any jeweller about PC
Jewellers
Check for 8k miles review on Glassdoor
Why would you pledge family jewels?- Seya industries, Zee
etc
Key differences on accounting between auditor and the
management
A lack of internal control is a big red flag
Fictitious assets or real assets?
Fraud untill proven innocent sheet Mar-12 Mar-13 Mar-14 Mar-18
Percentage Increase in Sales #DIV/0! #DIV/0! #DIV/0!
Percentage increase in receivables #DIV/0! #DIV/0! #DIV/0!
Percentage Increase in Inventory #DIV/0! #DIV/0! #DIV/0!
Inventory/sales #DIV/0! #DIV/0! #DIV/0! 18.47%
Recievable/Sales #DIV/0! #DIV/0! #DIV/0! 31%
Cash yield #DIV/0! #DIV/0! #DIV/0! 46%
Depreciation rate #DIV/0! #DIV/0! #DIV/0! 2%

Contingent Liability as a % of networth #DIV/0! #DIV/0! #DIV/0! -

CFO/PAT #DIV/0! #DIV/0! #DIV/0! 0%
CFO/EBITDA #DIV/0! #DIV/0! #DIV/0! 0%
Self Sustainable growth rate #VALUE! #VALUE! #VALUE! 20%
Dividend given (intention to share wealth) 0 0 0 0
Dividend Payout Ratio/Also check for buyback 0% 0% 0% 0%
Check for Miscellaneous expenses as a total
revenues #DIV/0! #DIV/0! #DIV/0! -
Check sales being done to subsidiary as a % of
sales #DIV/0! #DIV/0! #DIV/0! 0

Check for intangibles as a% of networth #DIV/0! #DIV/0! #DIV/0! -

Check for Write offs as a % ofTrade receivables #DIV/0! #DIV/0! #DIV/0! 0

CWIP/Net block #DIV/0! #DIV/0! #DIV/0! 22%
Employee cost as a % of sales #DIV/0! #DIV/0! #DIV/0! 6%
Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24
13.29% 36.45% 12.36% 67.89% 24.29% -2.42%
-13.62% 23.75% -27.73% 36.13% 32.14% -33.05%
29.03% 58.75% 33.57% 72.87% 27.89% -9.28%
21.03% 24.47% 29.09% 29.95% 30.82% 28.65%
24% 21% 14% 11% 12% 8%
41% 61% 359% 420% 11% 18%
2% 3% 5% 4% 5% 5%

- - - - - - Enter Using annual rep

56% -35% 464% 16% 108% 296% #DIV/0!
39% -29% 108% 7% 50% 125% #DIV/0!
20% 21% 9% 25% 21% 14%
0 0 0 0 0 -
0% 0% 0% 0% 0% 0%

- - - - - - Enter Using annual rep

0 0 0 0 0 Enter Using annual rep
0

- - - - - - Enter Using annual rep

0 0 0 0 0 0 Enter Using annual rep

46% 24% 0% 1% 1% 6%
7% 7% 7% 6% 5% 7%
ng annual report

ng annual report
ng annual report
ng annual report
ng annual report
 Consensus Forecasts Input
FCF Growth(1-5 years) #NUM!
Fcf growth (5-10 years) 15.00%
Discount Rate/Cost of capital 12%
Terminal growth rate 6.00%
Cash & Bank Balance 24.81
Investments -
Debt 177.76
Shares outstanding 30.51
Non-Operative Assets 24.81
Current Market Price 322.75
Free Cash flow of last 3 years 90.6

YEAR FCF Growth Present Value

1 #NUM! #NUM! #NUM!
2 #NUM! #NUM! #NUM!
3 #NUM! #NUM! #NUM!
4 #NUM! #NUM! #NUM!
5 #NUM! #NUM! #NUM!
6 #NUM! 15.00% #NUM!
7 #NUM! 15.00% #NUM!
8 #NUM! 15.00% #NUM!
9 #NUM! 15.00% #NUM!
10 #NUM! 15.00% #NUM!
 Valuation ranges Mcap Per stock
Future Val
Warren Buffet Way #NUM! #NUM!
Benjamin Graham Way 1,277.71 41.876935593
Bharat Shah Way #NUM! #NUM!
Margin of safety at 50% #NUM! #NUM!
Current Price 322.75

DO NOT FORGET TO INSERT FIXED ASSETS PURCHASE FROM SCREENER in CFO S

Terminal Year Cash Flow #NUM!
Present value of 1-10 year #NUM!
Terminal value #NUM!
Total PV of shares #NUM!

To Calculate reverse DCF Just adjust the FCF growth to get to a point where Value Per stock v
 Future Value vs Cigar butt

2
100%

M SCREENER in CFO SHEET!

a point where Value Per stock via Warren Buffett wayy is equal to the current market price
CAMPUS ACTIVEWEAR LTD
CAMPUS ACTIVEWEAR LTD Mar-12 Mar-13 Mar-14 Mar-18 Mar-19 Mar-20 Mar-21
Gross Profit 0 0 0 140.35 180.84 189.13 294.8
EBIT 0 0 0 62.07 74.35 88.4 87.08
EBITDA #NAME? #NAME? 0 70.43 82.96 108.33 119.3
Operating Profit (excl Other Income) #NAME? #NAME? 0 52.91 57.31 71.88 115.57
PAT - - - 31.46 40.18 60.32 26.87
Dividend - 0 - - - - -
Mar-12 Mar-13 Mar-14 Mar-18 Mar-19 Mar-20 Mar-21
Networth 0 0 0 160.35 203.53 284.43 312.63
Working Capital 0 0 0 191.78 190.58 348.12 235.01
Exclude one-off excess Cash (if any)
Invested Capital 0 0 0 250.53 268.7 529.57 489.87
Capital Employed 0 0 0 287.42 330.21 529.77 489.87
Total Assets - 0 0 394.81 439.16 654.35 686.24
Net Enterprising Capital (Earnings
that count ) 10.13 10.00 13.97 169.34 212.52 232.77 325.75
Opportunity cost of Equity 1 1 11 23 27 34
6 yrs (CFO to ebitda)
Mar-12 Mar-13 Mar-14 Mar-18 Mar-19 Mar-20 Mar-21
Operating Cash Flow - - 0 0 22.37 -20.90 124.73
Capex 0 0 67.11 27.98 123.26 105.63
Free Cash Flow 0.00 0.00 -67.11 -5.61 -144.16 19.10
Owner's earning 0.00 0.00 -161.99 39.66 -101.21 133.54
Accural Earnings 0.00 0.00 0.00 31.46 40.18 60.32 26.87
Defensive Earnings (Self fund ability) #NAME? 0.00 -216.98 24.16 -195.57 74.63
Enterprise Earnings (Value creating ability) -1.21 -1.44 20.46 17.27 33.60 -6.64
Market Cap 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt Repayment Period -1.98 -0.98 -7.61 -2.35
Return on Greenest Dollar 1570% 27% 1% -101%
Dividend Payout Ratio 0% 0% 0% 0%
WC/Sales Ratio 47% 41% 55% 33%
Maintenance Capex % of PAT #DIV/0! 9% 14% 20% 75%
RoE #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? -1%
Dividend Payout #DIV/0! #DIV/0! #DIV/0! 0% 0% 0% 0%
Growth #DIV/0! #DIV/0! #DIV/0! #NAME? #NAME? #NAME? -1%
Tax Rate 215% 73% 11% -1% -41% -19% 3%
NOPLAT 0.00 0.00 0.00 62.40 104.46 104.84 84.40
RoIC #DIV/0! #DIV/0! #DIV/0! 25% 39% 20% 17%
WACC 12% 12% 12% 12% 12% 12% 12%
EPA (Economic Profit Added) #DIV/0! #DIV/0! #DIV/0! 32.33 72.22 41.29 25.62
RoIIC #DIV/0! #DIV/0! 17% 2% -8%
3Yr Rolling RoIIC 39% 4%
5Yr Rolling RoIIC 16%
Operating Leverage #DIV/0! 1.62 0.51
Sustainable Growth Rate #DIV/0! #DIV/0! #DIV/0! #NAME? #NAME? #NAME? -1%
Mar-12 Mar-13 Mar-14 Mar-18 Mar-19 Mar-20 Mar-21
MktCap 0.00 0.00 0.00 0.00 0.00 0.00 0.00
MktCap+Dividend 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Retained Profit 0 0 0 31.46 40.18 60.32 26.87
EV 0.00 0.00 0.00 125.63 125.06 185.92 176.20
Mar-12 Mar-13 Mar-14 Mar-18 Mar-19 s2xw Mar-21
Price/Earnings #DIV/0! #DIV/0! #DIV/0! 0.00 0.00 0.00 0.00
Price/Book #DIV/0! #DIV/0! #DIV/0! 0.00 0.00 0.00 0.00
Price/CashFlow #DIV/0! #DIV/0! #DIV/0! #DIV/0! 0.00 0.00 0.00
Price/Sales #DIV/0! #DIV/0! #DIV/0! 0.00 0.00 0.00 0.00
EV/EBITDA #NAME? #NAME? #DIV/0! 1.78 1.51 1.72 1.48
Dividend Yield #DIV/0! #DIV/0! #DIV/0! 0.00% 0.00% 0.00% 0.00%
Mar-12 Mar-13 Mar-14 Mar-18 Mar-19 Mar-20 Mar-21
Working Capital/Total Assets #DIV/0! #DIV/0! #DIV/0! 0.49 0.43 0.53 0.34
Retained Profits/Total Assets #DIV/0! #DIV/0! #DIV/0! 0.08 0.09 0.09 0.04
EBIT/Total Assets #DIV/0! #DIV/0! #DIV/0! 0.16 0.17 0.14 0.13
Market Cap/Total Liabilities #DIV/0! #DIV/0! #DIV/0! 0.00 0.00 0.00 0.00
Sales/Total Assets 0.71 0.63 0.56 0.63 0.49 0.40 0.36
Altman Z-Score #DIV/0! #DIV/0! #DIV/0! 1.85 1.70 1.61 1.25
Z > 2.99 -“Safe” Zones
1.81 < Z < 2.99 -“Grey” Zones
Z < 1.81 -“Distress” Zones

Defensive Entreprenial
#NAME? -1.21
0.00 -1.44
-216.98 20.46
24.16 17.27
-195.57 33.60
74.63 -6.64
-104.90 62.71
-35.67 58.53
165.17 18.93
Mar-22 Mar-23 Mar-24 TTM 3Y 5Y 10Y
495.63 623.96 763.68 37% 32% Err:502 Corelati on Cha
191.33 185.28 143.23 0 18% 10% Err:502
244.37 256.32 215.34 1026.62 22% 15% #NAME? 3100
242.9 253.57 210.99 13.93% 22% 24% #NAME? 2200
1300
108.54 117.12 89.44 97.32 49% 8% Err:502 400
- - - Err:502 ### Err:502 -500
Mar-22 Mar-23 Mar-24 1HFY17 -1400 40999 41364 41729 42094 42460 42825 43
-2300
427.58 552.12 651.66 0.00 28% 18% Err:502 -3200
391.95 510.09 455.57 0.00 25% 6% Err:502 -4100
check historical normalised levels-5000
of cash/total assets for excluding one-off excess cash fo
716.57 887.12 829.42 0.00 19% 9% Err:502 -5900
-6800
716.57 887.12 829.42 19% 9% Err:502 -7700
963.62 1184.35 1,115.27 0.00 18% 11% Err:502
Accural Earnings Defens
438.15 538.30 636.85 Enterprise Earnings (Value creating ability) Market
46 59 71
52% 10 11 12 13 14 15
Mar-22 Mar-23 Mar-24
17.87 126.47 264.47 535.01 28% ### Err:502 Defensive vs Enterprising
122.8 123.45 68.93 3Y 5Y 9Y F3 F4 F5 F6
-104.93 3.02 195.54 -6.29 117% ### Err:502 2500
-59.01 -15.23 129.54 17.53 -1% ### Err:502
108.54 117.12 89.44 2000
-104.90 -35.67 165.17 -19.27 30% ### #NAME?
62.71 58.53 18.93 33.43 #NUM! -11% #NUM!
0.00 10155.65 6548.69 1500
Enterprising

-13.15 40.86 4.84

109% -6% -54% 1000
0% 0% 0% 0%
33% 34% 31% 33%
500
32% 44% 73% 56%
65% 7% 9%
0% 0% 0% 0
-10000 -8000 -6000 -4000 -2000 0
65% 7% 9%
3% 3% 13% 135.74
-500
185.53 178.99 124.92
26% 20% 15% Defensive
12% 12% 12%
99.55 72.53 25.38
-255% -3% -32%
34% 17% 11% 3Y 5yr 10Y
38% 16% 3% 2.87 -2.67 1.1879462
4.98 coy can grow at this rate safely with internal accruals
65% 7% 9% CURRENT
Mar-22 Mar-23 Mar-24 6354.57
0.00 10155.65 6548.69
0.00 10155.65 6548.69
108.54 117.12 89.44
288.64 10466.66 6701.64
ws2xs q1 Mar-24
 0.00 86.71 73.22
0.00 18.39 10.05 118.57143 142.28571
0.00 80.30 24.76
0.00 6.84 4.52
1.18 40.83 31.12
0.00% 0.00% 0.00% Z-Weights
Mar-22 Mar-23 Mar-24 1.2
0.41 0.43 0.41 1.4
0.11 0.10 0.08 3.3
0.20 0.16 0.13 0.6
0.00 8.57 5.87 1
0.64 0.75 0.78
1.94 7.07 5.33
 Corelati on Chart
6000

5000

4000
42094 42460 42825 43190 43555 43921 44286
3000

2000
uding one-off excess cash for RoIC calculations
1000

Defensive Earnings (Self fund ability)

lue creating ability) Market Cap

16 17 18 19

vs Enterprising Earnings
F7 F8 F9 F10
2500

2000

1500

1000

500

0
-4000 -2000 0 2000 4000 6000

-500
Defensive
 (adapted from the methodology described in the book "Buffetology" by
Current Data 10 yr Projected Company data using hist
Price 322.75 Year EPS DPS
EPS: 3.19 Current 3.19 0.00
DPS: 0.00 Year 1 #DIV/0! #DIV/0!
BVPS: 21.34 Year 2 #DIV/0! #DIV/0!
P/E: 101.19 Year 3 #DIV/0! #DIV/0!
Earnings Yield: 0.99% Year 4 #DIV/0! #DIV/0!
Dividend Yield: 0.00% Year 5 #DIV/0! #DIV/0!
P/BV: 15.12 Year 6 #DIV/0! #DIV/0!
Year 7 #DIV/0! #DIV/0!
Input Visibility data below Year 8 #DIV/0! #DIV/0!
Sales Year 9 #DIV/0! #DIV/0!
Med Term Visibility #DIV/0! Year 10 #DIV/0! #DIV/0!
Sales 10 Yr CAGR #DIV/0!
Sales 5yr CAGR 18.96% 10 yr Projected Company data using susta
Sales 3yr CAGR 8.10% Year BVPS EPS
Sales Y-o-Y growth 4.14% Current 21.34 3.19
Sales TTM Growth Year 1 24.53 3.76
EPS Year 2 28.30 4.44
Med Term Visibility #DIV/0! Year 3 32.74 5.24
EPS 10 Yr CAGR #DIV/0! Year 4 37.99 6.19
EPS 5yr CAGR 10.04% Year 5 44.18 7.30
EPS 3yr CAGR -3.66% Year 6 51.48 8.62
EPS Y-o-Y growth 8.88% Year 7 60.10 10.18
EPS TTM Growth Year 8 70.28 12.01
5Yr Averages Year 9 82.29 14.17
Return on Equity: 18.02% Year 10 96.46 16.73
Payout Ratio: 0.00% *Assuming current capital structure is maintained - business's inherent a
P/E Ratio-High: 101.2
P/E Ratio-Low: 73.2 5Year Avg Roe 18%
Avg. P/E Ratio: 87.0
Avg Sustainable P/E 87
RoE/Payout Visibility 5 Yr Avg
RoE Visibility 18% 18.02%
Payout Visbility 0% 0.00%
Sustainable Growth 18.02% 18.02%
ibed in the book "Buffetology" by Mary Buffet - using current Visibility aided by Historicals)
rojected Company data using historical earnings growth rate/current visibility

#DIV/0! Earnings after 10 years

#DIV/0! Dividends paid over 10 years

#DIV/0! Projected price [Avg Sustainable P/E*EPS]

#DIV/0! Total Gain [Projected Price+Dividends]

#DIV/0! Projected annual return using current EPS growth visibility

[(Total Gain/Current Price)^1/9)-1]

ojected Company data using sustainable growth rate based on current visibility
DPS
0.00 16.73 Earnings after 10 years
0.00 0.00 Dividends paid over 10 years
0.00
0.00 1456.11 Projected price [Avg Sustainable P/E*EPS]
0.00 1456.11 Total Gain [Projected Price+Dividends]
0.00
0.00 18.22% Projected annual return using sustainable growth visbility*
0.00 [(Total Gain/Current Price)^1/9)-1]
0.00
0.00
0.00
maintained - business's inherent ability to grow with internal accruals from here
10yr Sales Projection
Year Sales
Current 1508.32
Year 1 #DIV/0!
Year 2 #DIV/0!
Year 3 #DIV/0!
Year 4 #DIV/0!
Year 5 #DIV/0!
Year 6 #DIV/0!
Year 7 #DIV/0!
Year 8 #DIV/0!
Year 9 #DIV/0!
Year 10 #DIV/0!
COMPANY NAME CAMPUS ACTIVEWEAR LTD
LATEST VERSION 2.10 PLEAS
CURRENT VERSION 2.10

META
Number of shares 30.51
Face Value 5.00
Current Price 322.75
Market Capitalization 9,847.48

PROFIT & LOSS

Report Date Mar-12 Mar-13 Mar-14 Mar-18
Sales 409.51
Raw Material Cost 269.16
Change in Inventory 14.19
Power and Fuel 3.37
Other Mfr. Exp 21.65
Employee Cost 24.80
Selling and admin 41.47
Other Expenses 10.34
Other Income 17.52
Depreciation 8.36
Interest 20.10
Profit before tax 41.97
Tax 10.51
Net profit 31.46
Dividend Amount

Quarters
Report Date Jun-22 Sep-22 Dec-22 Mar-23
Sales 337.71 333.17 465.62 347.75
Expenses 276.03 289.72 373.71 291.21
Other Income 0.56 0.74 0.88 0.58
Depreciation 14.53 16.97 19.56 19.98
Interest 5.58 7.65 8.23 7.23
Profit before tax 42.13 19.57 65.00 29.91
Tax 10.81 5.02 16.69 6.97
Net profit 31.32 14.54 48.31 22.94
Operating Profit 61.68 43.45 91.91 56.54
BALANCE SHEET
Report Date Mar-12 Mar-13 Mar-14 Mar-18
Equity Share Capital 0.10
Reserves 160.25
Borrowings 127.07
Other Liabilities 107.39
Total 394.81
Net Block 47.96
Capital Work in Progress 10.79
Investments 36.89
Other Assets 299.17
Total 394.81
Receivables 127.12
Inventory 75.62
Cash & Bank 1.44
No. of Equity Shares 97,331.00
New Bonus Shares
Face value 10.00

CASH FLOW:
Report Date Mar-12 Mar-13 Mar-14 Mar-18
Cash from Operating Activity
Cash from Investing Activity
Cash from Financing Activity
Net Cash Flow

PRICE:

DERIVED:
Adjusted Equity Shares in Cr 0.01
 PLEASE DO NOT MAKE ANY CHANGES TO THIS SHEET

Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24

463.93 633.03 711.28 1,194.18 1,484.25 1,448.29
283.09 443.90 416.48 698.55 860.29 684.61
4.30 39.77 29.97 95.38 108.31 -10.85
3.90 6.18 9.00 17.36 22.16 21.49
26.35 37.59 48.75 74.87 111.44 105.77
33.84 47.08 50.60 66.45 80.92 102.81
51.58 51.44 84.44 174.00 228.80 262.24
12.16 14.73 16.41 15.43 35.38 49.53
25.65 36.45 3.73 1.47 2.75 4.35
8.61 19.93 32.22 53.04 71.04 72.11
14.46 12.97 17.16 19.62 28.68 23.20
59.89 75.43 69.92 171.71 156.60 120.03
19.71 15.12 43.05 63.17 39.48 30.59
40.18 60.32 26.87 108.54 117.12 89.44

Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24

353.76 258.66 472.01 363.86 339.16 333.29
287.56 234.19 415.76 299.98 287.42 295.12
0.21 0.44 1.36 2.53 2.27 3.43
17.07 18.08 18.36 18.60 16.24 17.55
6.94 6.46 5.78 4.02 3.68 4.45
42.40 0.37 33.47 43.79 34.09 19.60
10.92 0.05 8.58 11.04 8.71 5.30
31.48 0.32 24.89 32.75 25.38 14.30
66.20 24.47 56.25 63.88 51.74 38.17
Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24
0.10 151.87 151.87 152.16 152.34 152.63
203.43 132.56 160.76 275.42 399.78 499.03
126.68 245.34 177.24 288.99 335.00 177.76
108.95 124.58 196.37 247.05 297.23 285.85
439.16 654.35 686.24 963.62 1,184.35 1,115.27
53.55 146.25 254.61 322.15 373.22 353.78
24.57 35.20 0.25 2.47 3.81 20.07
61.51 0.20
299.53 472.70 431.38 639.00 807.32 741.42
439.16 654.35 686.24 963.62 1,184.35 1,115.27
109.80 135.88 98.20 133.68 176.65 118.26
97.57 154.89 206.89 357.66 457.40 414.96
1.62 59.42 1.04 0.35 23.99 24.81
97,331.00 ### ### ### ### ###

10.00 10.00 10.00 5.00 5.00 5.00

Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24

22.37 -20.90 124.73 17.87 126.47 264.47
-23.39 -55.19 -8.84 -34.08 -69.68 -74.49
1.20 88.89 -129.40 15.53 -33.15 -192.47
0.18 12.80 -13.50 -0.69 23.64 -2.49

333.30 214.50

0.01 15.19 15.19 30.43 30.47 30.53

 Valuation - Expected Ret
CAMPUS ACTIVEWEAR L
Particulars Mar/12 Mar/13 Mar/14 Mar/18
Net Profit (Rs Crore) - - - 31
Net Profit Margin #DIV/0! #DIV/0! #DIV/0! 0
Return on Equity 0% 0% 0% 0%

Calculations (Enter values only in black cells)

Estimated CAGR in Net Profit over next 10 years #DIV/0!
Estimated Net Profit after 10 years (Rs Cr) #DIV/0!
Current P/E (x) 110.1
Exit P/E in the 10th year from now (x, Estimated) 80.0
Esti. Market Cap (10th year from now; Rs Cr) #DIV/0!
Cost of Capital/Discount Rate 12%
Discounted Value (Rs Cr) #DIV/0! #DIV/0!
Current Market Cap (Rs Cr) 9,847 323

Note: See explanation of this model here

#DIV/0!

Go to Main Sheet
Expected Returns Model
PUS ACTIVEWEAR LTD
Mar/19 Mar/20 Mar/21 Mar/22 Mar/23 Mar/24 CAGR (9-Yr) CAGR (5-Yr)
40 60 27 109 117 89 #DIV/0! 17%
0 0 0 0 0 0
0% 0% 0% 0% 0% 0%

June 2020 Price 322.75

EPS 3.19
Currrent PE 101.19
Expected Stock Pri 12%
2030 Stock Price 1002.413
June 2030 PE (Desi 80.0
June 2030 EPS 12.53562
Implied EPS Cagr 15%
(₹ Crores/10 Millions) CAMPUS ACTIVEWEAR LTD
Narration Mar-12 Mar-13 Mar-14 Mar-18 Mar-19 Mar-20
Sales - - - 410 464 633
Operating Profit 0 0 0 53 57 72
Operating Profit Margin (OPM%) 0% 0% 0% 13% 12% 11%
Other Income 0 0 0 18 26 36
EBITDA 0 0 0 70 83 108
Interest 0 0 0 20 14 13
Depreciation 0 0 0 8 9 20
Profit before tax (PBT) 0 0 0 42 60 75
Tax 0 0 0 11 20 15
Tax% #DIV/0! #DIV/0! #DIV/0! 25% 33% 20%
Net profit after tax (PAT) 0 0 0 31 40 60
Net Profit Margin (NPM%) #DIV/0! #DIV/0! #DIV/0! 8% 9% 10%
Cash from Operating Activity (CFO) - - - - 22 -21
Capex {(NFA+WIP) change+Dep} - - 67 28 123
FCF 0 0 (67) (6) (144)
Total Debt (D) - - - 127 127 245
Share Capital - - - 0 0 152
Dividend Paid (Div) Without DDT - - - - - -
Cash + Investments (CI +NCI) 0 0 0 38 63 60
#DIV/0! #DIV/0! #DIV/0! 0% 5% -3%
Self-Sustainable Growth Rate (SSGR) #DIV/0! #DIV/0! 78%
#DIV/0! #DIV/0! #DIV/0! 0.00 0.56 -0.35
Trade Receivables - - - 127 110 136
Inventory - - - 76 98 155
#DIV/0! #DIV/0! #DIV/0! 18.3 23.0 31.2
PBT/Avg. NFA (<10%,>25%) #DIV/0! #DIV/0! 175% 118% 76%
ROE on Avg Equity (<7%,>25%) #DIV/0! #DIV/0! 39% 22% 25%
ROCE (EBIT on Avg CE/TA) (<10%,>35%) #DIV/0! #DIV/0! 16% 18% 16%
Incremental ROE 3Yr Rolling #DIV/0! 128% 84%
Maintenance Capex % of PAT #DIV/0! 9% 14% 20%
Net Fixed Asset Turnover (High is better) #DIV/0! #DIV/0! 17.08 9.14 6.34
Receivables days (Low is better) #DIV/0! #DIV/0! 113 93 71
Inventory Turnover (High is better) #DIV/0! #DIV/0! 5.4 5.4 5.0
Working capital cycle days (Rec + Inv Days) #DIV/0! #DIV/0! 181 161 144

Net Fixed Assets (NFA) 0 0 0 48 54 146

Capital Work in Progress (CWIP) 0 0 0 11 25 35

Dividend Paid (Div) Without DDT - - - - - -

Dividend Payout (Div/PAT) #DIV/0! #DIV/0! #DIV/0! 0% 0% 0%
Retained Earnings (RE=PAT-Div) 0 0 0 31 40 60
Price to earning #DIV/0! #DIV/0! #DIV/0! - - -
Mcap - - - - - -
Cash + Investments (CI +NCI) 0 0 0 38 63 60
#DIV/0! #DIV/0! #DIV/0! 0.0 0.0 0.0
Total Debt (D) - - - 127 127 245
Total Equity (E) 0 0 0 160 204 284
Debt to Equity ratio (D/E) #DIV/0! #DIV/0! #DIV/0! 0.8 0.6 0.9
Cost of funds 12.0%
Interest outgo (Rs. Cr.) 0 0 8 15 22
Interest Coverage (OP/Int. Out) #DIV/0! #DIV/0! 6.9 3.8 3.2

Mar-12 Mar-13 Mar-14 Mar-18 Mar-19 Mar-20

Cash from Operating Activity (CFO) - - - - 22 -21
Cash from Investing Activity (CFI) 0 0 0 0 (23) (55)
Cash from Financing Activity (CFF) 0 0 0 0 1 89
Net Cash Flow (CFO+CFI+CFF) 0 0 0 0 0 13
Cash & Eq. at the end of year 0 0 0 1 2 59

Total Retained Earnings (RE) in 10 Yrs (A) 474

Total increase in Mcap in 10 yrs (B) 9,847
Value created per INR of RE (B/A) 20.78

Costs as % of Sales
Raw Material #DIV/0! #DIV/0! #DIV/0! 62% 60% 64%
Power & Fuel #DIV/0! #DIV/0! #DIV/0! 1% 1% 1%
Employee Costs #DIV/0! #DIV/0! #DIV/0! 6% 7% 7%
Selling & Admin Costs #DIV/0! #DIV/0! #DIV/0! 10% 11% 8%
Other Manufacturing Expenses #DIV/0! #DIV/0! #DIV/0! 5% 6% 6%
Other Expenses #DIV/0! #DIV/0! #DIV/0! 3% 3% 2%
 Sep-24 << Latest available quarterly results
Mar-21 Mar-22 Mar-23 Mar-24 Last 4 Quarters Total 10 Yrs TRENDS: 10Yr 7Yr
711 1,194 1,484 1,448 1,508 Sales Growth
116 243 254 211 210 OPM 16% 16%
16% 20% 17% 15% 14% PAT Growth
4 1 3 4 10 92 Avg. PE 80.0 80.0
119 244 256 215 220 1,097
17 20 29 23 18 136
32 53 71 72 71 265 CMP 323
70 172 157 120 131 P/E 101.2
43 63 39 31 34
62% 37% 25% 25% 26% P/B 15.1
27 109 117 89 97 474 P/E*P/B 1,529.1
4% 9% 8% 6% 6% Div Yield 0.0%
125 18 126 264 CFO 535 Market Cap 9,847
106 123 123 69 Capex 639
19 (105) 3 196 FCF (104) 474 Total Retained Earnings (RE) in 10
177 289 335 178 FCFE (Post Int. exp.) (240) 9,847 Total increase in Mcap in 10 yrs (B
152 152 152 153 Total Div 10 Yrs - 20.78 Value created per INR of RE (B/A)
- - - - Inc. in Debt in 10Yrs 178
1 0 24 25 Cash+Investments 25 0 Closing share price on March 31, 1
18% 1% 9% 18% FCF/CFO -19%
32% 21% 12% 13% Interest Outgo 167
4.64 0.16 1.08 2.96 Change in 10 Yrs 3.1058482083 4.045558
98 134 177 118 (118) 932 1214
207 358 457 415 (415) 1398 1821
25.4 107.6 115.1 86.2 Capex/Net Profit 135% 1864 2427
35% 60% 45% 33%
9% 29% 24% 15% 91 119
13% 23% 17% 12%
-3% 54% 29% 25% 2378.788
75% 32% 44% 73% 56%
3.55 4.14 4.27 3.98
60 35 38 37
3.9 4.2 3.6 3.3
153 122 138 147

255 322 373 354

0 2 4 20

- - - - 0 Div Growth
0% 0% 0% 0%
27 109 117 89
- - 86.7 73.2
- - 10,156 6,549 9,847
1 0 24 25 25
0.0 0.0 6.8 4.5
 177 289 335 178 Debt
313 428 552 652 Book Value
0.6 0.7 0.6 0.3

25 28 37 31 167
4.6 8.7 6.8 6.9

Mar-21 Mar-22 Mar-23 Mar-24 Total 10 Yrs

125 18 126 264 535
(9) (34) (70) (74) (266)
(129) 16 (33) (192) (249)
(14) (1) 24 (2) 20
1 0 24 25

54% 51% 51% 48%

1% 1% 1% 1%
7% 6% 5% 7%
12% 15% 15% 18%
7% 6% 8% 7%
2% 1% 2% 3%
Source: Screener.in
 5Yr 3Yr TTM
26% 27% 4%
16% 17% 14%
17% 49% 9%
80.0 80.0 101.2

Retained Earnings (RE) in 10 Yrs (A)

increase in Mcap in 10 yrs (B)
e created per INR of RE (B/A)

ng share price on March 31, 10 years back

 7% 0% -47%
26% 28% 18%
 2025 Scenarios
Bear Case Base Case Bull Case EV/EBITDA #VALUE!
Sales Growth 26% 0% 27% EBITDA 594
EBITDA Margin 16% 16% 17% EV 5347
PAT % 7% 7% 7% Assuming Debt-cash=0
P/S Ratio #VALUE! #VALUE! #VALUE! Manufacturing Price 175
Sales 3750 1508 3893 Price CAGR -14%
Price (P/S) #VALUE! #VALUE! #VALUE!
Price CAGR #VALUE! #VALUE! #VALUE!

P/E Ratio 80.0 80.0 80.0

PAT CAGR 17% 0% 49%
Earnings 185 97 484 Non Finance
Price (P/E) 484 255 1268
Price CAGR 11% -6% 41%

P/CFO #VALUE! #VALUE! #VALUE!

CFO/PAT #DIV/0! #DIV/0! #DIV/0!
High
CFO #DIV/0! #DIV/0! #DIV/0! Depreciation
Price(P/CFO) #DIV/0! #DIV/0! #DIV/0!
Price CAGR #DIV/0! #DIV/0! #DIV/0!
 #VALUE! #VALUE!
243 667 Chemical
2186 6006 /
Debt-cash=0 Pharma/
General
72 197
-31% -12%