Ashok Leyland's intrinsic value using Intellectual Capital analysis

Ashok Leyland

BSE : 500477

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NSE : ASHOKLEY

Industry : Auto LCV/HCV

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ISIN : INE208A01029

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FreeFloat : 50.00%

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FnO : Yes

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LotSize : 4500

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Intellectual Capital (IC)	2,128.14
Net Worth (NW)	8,828.70
Intrinsic Worth (IW)	10,956.84
Market Cap (MC)	35,989.56
Economic Value Added	-889.99

Discount Rate	%
Liquidity Premium	%

Knowledge Basis (IC/IW)	19.42%
IC Gross Margin (EBITDA/IC)	132.51%
IC Net Margin (NPT/IC)	13.48%
Knowledge Turnover (Sales/IC)	9.87
Market to Intrinsic Value (MC/IW)	3.28

As Of	Intrinsic Value	Market Price
30 Jun 2021	Rs. 37.32	Rs. 122.60
20 Sep 2021	----	Rs. 125.10
20 Sep 2021	----	-0.05 -0.04%

Fundamental - medium term		Technical - near term		Combined outlook
EVA > 0 : No	Sell	10 DMA : Rs. 124.34	Reduce	Sell
KB > 50% : No		50 DMA : Rs. 125.85
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-18
S
7607.98
7636.13
818.13
677.95
660.58
459.58
425.25

Dec-18
S
6325.24
6346.04
663.40
502.74
483.57
380.84
400.89

Mar-19
C
9877.19
9903.25
1519.27
1344.65
957.09
749.04
713.44

Jun-19
C
6588.23
6612.42
1033.62
850.20
439.97
273.87
247.21

Sep-19
C
5033.06
5096.13
721.81
544.30
87.83
69.95
61.64

Dec-19
C
5188.84
5208.53
769.76
589.34
121.29
57.11
81.12

Mar-20
C
5088.04
5127.11
742.93
534.29
88.98
57.78
168.73

Jun-20
C
1486.04
1511.69
143.28
-42.10
-527.07
-388.82
-231.79

Sep-20
C
3852.84
3877.62
603.04
410.65
-79.10
-96.23
-175.49

Dec-20
C
5954.17
6000.28
746.99
534.09
65.62
38.32
125.62

Mar-21
C
8142.11
8176.73
1175.87
930.92
473.47
377.13
504.69

Jun-21
C
4087.89
4103.27
349.59
138.17
-323.63
-252.18
-289.97

* C - Consolidated, S - Standalone