| Select LTM Revenue Multiple | | | | | | | | |
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| Benchmark Companies | | | |
| TBZ | PCJEWELLER | PNGJL | THANGAMAYL | SENCO | | MVGJL | |
| NSEI:TBZ | NSEI:PCJEWELLER | NSEI:PNGJL | NSEI:THANGAMAYL | NSEI:SENCO | | NSEI:MVGJL | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 5.4% | -41.3% | NM- | 21.5% | 16.1% | | 11.5% | |
| 3Y CAGR | 19.7% | -40.2% | 46.5% | 28.1% | 25.4% | | 14.5% | |
| Latest Twelve Months | 15.1% | 118.3% | NM | 24.8% | 24.9% | | 5.0% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 4.8% | 1.5% | 3.9% | 5.2% | 6.3% | | 6.4% | |
| Prior Fiscal Year | 3.9% | 8.9% | 3.3% | 4.5% | 6.9% | | 6.6% | |
| Latest Fiscal Year | 5.0% | -31.5% | 4.1% | 5.2% | 6.1% | | 6.6% | |
| Latest Twelve Months | 5.6% | 14.5% | 4.0% | 4.7% | 4.3% | | 6.6% | |
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| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.74x | 8.13x | 0.93x | 1.55x | 1.04x | | 0.59x | |
| EV / LTM EBIT | 13.3x | 56.0x | 23.0x | 33.3x | 23.9x | | 8.8x | |
| Price / LTM Sales | 0.50x | 5.63x | 0.94x | 1.41x | 0.81x | | 0.46x | |
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| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.74x | 1.04x | 8.13x | | | | | |
| Historical EV / LTM Revenue | 0.67x | 0.67x | 0.67x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 0.65x | 0.68x | 0.72x | | | | | |
| (x) LTM Revenue | 22,254 | 22,254 | 22,254 | | | | | |
| (=) Implied Enterprise Value | 14,438 | 15,197 | 15,957 | | | | | |
| (-) Non-shareholder Claims * | (2,732) | (2,732) | (2,732) | | | | | |
| (=) Equity Value | 11,706 | 12,466 | 13,226 | | | | | |
| (/) Shares Outstanding | 48.8 | 48.8 | 48.8 | | | | | |
| Implied Value Range | 239.64 | 255.20 | 270.75 | | | | | |
| FX Rate: INR/INR | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 239.64 | 255.20 | 270.75 | | 215.63 | | | |
| Upside / (Downside) | 11.1% | 18.4% | 25.6% | | | | | |