Bank of Baroda's intrinsic value using Intellectual Capital analysis

Bank of Baroda

BSE : 532134

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NSE : BANKBARODA

Industry : Bank Pub sector

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ISIN : INE028A01013

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FreeFloat : 45.00%

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FnO : Yes

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LotSize : 4500

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Intellectual Capital (IC)	-64,061.25
Net Worth (NW)	67,483.33
Intrinsic Worth (IW)	3,422.08
Market Cap (MC)	46,776.20
Economic Value Added	5,908.67

Discount Rate	%
Liquidity Premium	%

Knowledge Basis (IC/IW)	-1872.00%
IC Gross Margin (EBITDA/IC)	-52.69%
IC Net Margin (NPT/IC)	0.28%
Knowledge Turnover (Sales/IC)	-0.83
Market to Intrinsic Value (MC/IW)	13.67

As Of	Intrinsic Value	Market Price
30 Jun 2019	Rs. 8.90	Rs. 121.60
14 Oct 2019	-	Rs. 88.30

Fundamental - medium term		Technical - near term		Combined outlook
EVA > 0 : Yes	Sell	10 DMA : Rs. 90.42	Sell	Strong Sell
KB > 50% : No		50 DMA : Rs. 96.67
0 < M2IV < 1 : No		Vol-Price trend : Falling

Question 3 - Is this stock undervalued?

Question 2 - Does this business have significant knowledge assets?

Question 1 - Is this business generating enough profits to cover its cost of capital?

* EVA is a registered trademark of Stern Stewart and Co.

Quarterly Results (Rs. Cr)

Quarter

Type*

Sales

Income

EBITDA

EBIT

PBT

PAT

NPT

Sep-16
S
10485.17
12046.60
7953.43
7953.43
894.36
552.12
552.12

Dec-16
S
10406.08
12181.04
7787.43
7787.43
515.71
252.67
252.67

Mar-17
S
10875.16
12852.44
7690.50
7690.50
397.20
154.72
154.72

Jun-17
S
10552.71
12103.86
7427.82
7427.82
280.06
203.39
203.39

Sep-17
S
10753.33
12490.39
7745.29
7745.29
712.49
355.36
355.36

Dec-17
S
11303.24
12976.28
7132.81
7132.81
223.60
111.78
111.78

Mar-18
S
11039.26
12735.16
3030.11
3030.11
-4006.89
-3102.34
-3102.34

Jun-18
S
11639.88
12787.71
8098.75
8098.75
839.95
528.26
528.26

Sep-18
S
12078.34
13429.95
8238.17
8238.17
652.37
425.38
425.38

Dec-18
S
12941.71
14562.85
8942.81
8942.81
744.33
471.25
471.25

Mar-19
C
14191.42
16769.77
7258.80
7258.80
-1339.35
-817.49
-820.59

Jun-19
C
19723.31
22056.95
13972.90
13972.90
1177.12
826.13
833.96

* C - Consolidated, S - Standalone