Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Kalpataru Power Transmission Limited (KALPATPOWR.NS)

Company Dividend Discount ModelIndustry: Engineering & ConstructionSector: Industrials

Valuation Snapshot

Stable Growth$2,643.67 - $5,730.77$5,370.57
Multi-Stage$859.55 - $941.19$899.62
Blended Fair Value$3,135.09
Current Price$534.25
Upside486.82%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2023202220212020201920182017201620152014
DPS21.08%15.47%6.341.468.277.893.072.440.041.411.501.50
YoY Growth--334.20%-82.35%4.79%157.36%25.90%5,353.00%-96.84%-6.09%0.00%0.00%
Dividend Yield--1.19%0.41%1.94%3.64%0.57%0.61%0.01%0.55%0.58%0.81%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)4,410.00
(-) Cash Dividends Paid (M)1,207.80
(=) Cash Retained (M)3,202.20
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)882.00551.25330.75
Cash Retained (M)3,202.203,202.203,202.20
(-) Cash Required (M)-882.00-551.25-330.75
(=) Excess Retained (M)2,320.202,650.952,871.45
(/) Shares Outstanding (M)153.04153.04153.04
(=) Excess Retained per Share15.1617.3218.76
LTM Dividend per Share7.897.897.89
(+) Excess Retained per Share15.1617.3218.76
(=) Adjusted Dividend23.0525.2126.65
WACC / Discount Rate6.42%6.42%6.42%
Growth Rate5.50%6.50%7.50%
Fair Value$2,643.67$5,370.57$5,730.77
Upside / Downside394.84%905.25%972.68%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)4,410.004,696.655,001.935,327.065,673.326,042.086,223.34
Payout Ratio27.39%39.91%52.43%64.96%77.48%90.00%92.50%
Projected Dividends (M)1,207.801,874.442,622.653,460.204,395.555,437.875,756.59

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.42%6.42%6.42%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)1,744.831,761.361,777.90
Year 2 PV (M)2,272.482,315.762,359.45
Year 3 PV (M)2,790.872,870.992,952.62
Year 4 PV (M)3,300.143,427.053,557.59
Year 5 PV (M)3,800.393,983.954,174.53
PV of Terminal Value (M)117,637.00123,318.91129,218.28
Equity Value (M)131,545.70137,678.02144,040.38
Shares Outstanding (M)153.04153.04153.04
Fair Value$859.55$899.62$941.19
Upside / Downside60.89%68.39%76.17%

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