Embedded value (IEV) = 39,527 cr growth = 31% yoy
VNB = 3,670 cr growth = 37% yoy
Number of shares = 214.94 cr
(IEV + VNB)/share = 210 growth = 30% yoy
Price to (IEV + VNB)/share = 2.6x at today’s closing price of Rs. 532.
I have never seen this stock trading at such low multiple.
Disclosure –
Invested from a very long time and therefore biased.
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