Models
ADITYA INFOTECH LIMITEDCPPLUSIndustrial Manufacturing
₹507per share · Base Model Note
Revenue growth, the horizon and scenarios are yours to change. Every other input is part of the Trader plan; saving, sharing a saved link and the live-formula workbook are part of the Institutional plan.
Scenario
Value per share, your model₹507implied FY26 P/E 12.4× · EV/EBITDA 10.5×
Against CMP ₹3,831.10−86.8%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3178%share of enterprise value in the terminal
This figure is the arithmetic of your inputs and nothing else. MarketPing publishes no fair value, target or rating; the model is yours.
Where the methods land · ₹ per share · the dashed line is the CMP
DCF, rate ±1 · growth ±1your model across the sensitivity grid
₹391₹740
52-week rangetraded range, a fact not a value
₹1,227₹4,094
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 1,300 |
| PV of terminal value | 4,628 |
| Enterprise value | 5,929 |
| less net debt | 52 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 5,981 |
| ÷ 11.79 crore shares | ₹507 |
78% of the value sits after FY31. Usual when return on capital sits near the cost of capital; the 5 explicit years carry little of it.
Free cash flow, filed and modelled · ₹ '000 crore
Filed, cash from operations − capexModelled free cash flow to firm
Sensitivity · ₹ per share
Down Across| WACC ↓terminal growth → | 4.0% | 4.5% | 5.0% | 5.5% | 6.0% |
|---|---|---|---|---|---|
| 10.00% | 524 | 563 | 610 | 668 | 740 |
| 10.50% | 483 | 516 | 554 | 600 | 657 |
| 11.00% | 448 | 476 | 507 | 545 | 591 |
| 11.50% | 418 | 441 | 468 | 499 | 536 |
| 12.00% | 391 | 411 | 434 | 461 | 491 |
The outlined cell is your model. Green figures sit above the CMP of ₹3,831.10; n/a marks a terminal growth at or above the discount rate. Steps: WACC and terminal growth ±0.5 point, growth ±2, margin ±1.
Distribution of outcomes · 4,000 draws · growth, margin and the discount rate vary together
| 10th · 50th · 90th percentile, ₹ per share | 417 · 502 · 612 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.73 |
| Rank correlation with discount rate | −0.63 |
| Rank correlation with revenue growth | +0.14 |
Each driver is drawn from a PERT distribution between the lowest and highest value across your scenarios (or ±50% growth, ±20% margin when there is one scenario), with the discount rate ±1.5 points. Seeded, so the same inputs give the same picture.
Projected cash flow to the firm · ₹ crore
History Forward| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Revenue | 4,221 | 4,558 | 4,923 | 5,317 | 5,742 | 6,202 |
| growth % | — | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 |
| EBITDA | 566 | 611 | 660 | 712 | 769 | 831 |
| margin % | 13.4 | 13.4 | 13.4 | 13.4 | 13.4 | 13.4 |
| less depreciation | (56) | (59) | (64) | (69) | (75) | (81) |
| EBIT | 510 | 552 | 596 | 643 | 695 | 750 |
| less tax on EBIT | (129) | (140) | (151) | (163) | (176) | (190) |
| NOPAT | 381 | 412 | 445 | 481 | 519 | 561 |
| add depreciation | 56 | 59 | 64 | 69 | 75 | 81 |
| less capex | (136) | (146) | (137) | (127) | (113) | (97) |
| less working-capital build | — | (73) | (78) | (85) | (91) | (99) |
| Free cash flow to firm | — | 253 | 293 | 338 | 389 | 446 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | |
| Present value | 240 | 251 | 261 | 270 | 279 |
History columns are the filed years (free cash flow there is cash from operations − capex, as filed); the base year and everything to its right come from the engine. Forward is the explicit horizon of the model itself: 3, 5 or 10 years, then flat.
The three statements, projected · ₹ crore · debt held at 113, dividends at 4.9% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 510 | 552 | 596 | 643 | 695 | 750 |
| Interest at 8% on debt | (9) | (9) | (9) | (9) | (9) | |
| Profit before tax | 543 | 587 | 634 | 686 | 741 | |
| Profit after tax | 370 | 405 | 438 | 474 | 512 | 554 |
| Dividends | (18) | (20) | (21) | (23) | (25) | (27) |
| Balance sheet, year end | ||||||
| Cash | 165 | 391 | 656 | 965 | 1,322 | 1,734 |
| Working capital | 907 | 979 | 1,058 | 1,142 | 1,234 | 1,333 |
| Net block and other assets | 2,919 | 3,006 | 3,079 | 3,137 | 3,175 | 3,191 |
| Debt | 113 | 113 | 113 | 113 | 113 | 113 |
| Equity | 1,877 | 2,262 | 2,679 | 3,130 | 3,617 | 4,144 |
| Balance check | 0 | 0 | 0 | 0 | 0 | (0) |
| Cash flow | ||||||
| From operations | 392 | 424 | 458 | 495 | 536 | |
| Investing (capex) | (146) | (137) | (127) | (113) | (97) | |
| Financing (dividends) | (20) | (21) | (23) | (25) | (27) | |
| Net change in cash | 226 | 265 | 309 | 357 | 412 | |
| Free cash flow to equity | 246 | 286 | 332 | 382 | 439 | |
Other liabilities are held at their FY26 level, so the check tests only what the model moves: cash, working capital, net block and other assets, debt and equity. A non-zero check would mean the three statements no longer tie.
Scenarios side by side · ₹ per share
| Scenario | Template | Growth | Margin | Rate | Terminal | ₹ / share | vs CMP |
|---|---|---|---|---|---|---|---|
| Base · editing | DCF | 8% | 13.4% | 11.00% | 5% | ₹507 | (86.8)% |
A scenario is a full set of inputs under a name. Keep Base as the filed history carried forward; add Bull and Bear by saving the current inputs under those names and moving the two or three assumptions you actually hold a view on. The distribution above draws each driver between the lowest and highest value across your scenarios, so three scenarios give it a real range; with one scenario it falls back to fixed bands.