Some rough back of the envelop calculation
→ FY22
Rev = 125 cr (Considering only Base business with no contribution from oncology)
Ebidta margin = 24%
Ebidta = 30 cr
PAT = 15cr
→ FY24 (as per report)
Rev = 305cr
PAT = 45 cr …3X jump in PAT from FY22 in 2 years
→ FY26
→ Base Business (assuming growing @10%CAGR)
Rev = 185cr
Ebidta = 45cr (margin considered as 24%)
→ Oncology Business
Rev = 450cr (approx avg of 400&500)
Ebidta = 135cr (margin considered 30%)
Total Rev = 630cr
Total Ebidta = 180cr
If it gets 15X Ebidta Multiple (which is its current multiple) then Mcap will be 2700 …like 6X-7X from current Mcap of 420cr
Please feel free to comment your view
Disc : Invested
Note : Entered into an agreement with reputed client (Cadila Healthcare) for oncology product
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