= 0.4 * NAPS + 4*EPS + 5 * Dividend
=0.4*42 + 4*19.1 + 5*Dividend
Expected Dividend for next year. Rs 4.0
=0.4*42 + 4*19.1 + 5*4
=16.8 + 76.4 + 20
= 113.2
that is minimum valuation now. if they can continue this way during next two three quarters. we can expect some special.
maybe Dividend 6-8. then also valution is more than this.