Models
ALGOQUANT FINTECH LIMITEDALGOQUANTCapital Markets
₹20per 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₹20implied FY26 P/E 12.2× · EV/EBITDA 10.6×
Against CMP ₹65.49−69.7%close of 2026-09-10
Growth the CMP implies30.8%revenue, a year for 5 years, on your other inputs
Value after FY3172%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
₹16₹28
52-week rangetraded range, a fact not a value
₹48₹71
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 155 |
| PV of terminal value | 407 |
| Enterprise value | 561 |
| less net debt | (4) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 557 |
| ÷ 28.11 crore shares | ₹20 |
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% | 20 | 22 | 24 | 26 | 28 |
| 10.50% | 19 | 20 | 22 | 23 | 25 |
| 11.00% | 18 | 19 | 20 | 21 | 23 |
| 11.50% | 17 | 17 | 18 | 20 | 21 |
| 12.00% | 16 | 16 | 17 | 18 | 19 |
The outlined cell is your model. Green figures sit above the CMP of ₹65.49; 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 | 17 · 20 · 23 |
| Draws below the CMP | 100% |
| Rank correlation with discount rate | −0.71 |
| Rank correlation with ebitda margin | +0.66 |
| Rank correlation with revenue growth | +0.02 |
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 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|---|
| Revenue | 235 | 235 | 237 | 238 | 239 | 240 | 241 |
| growth % | — | 0.3 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 |
| EBITDA | 48 | 53 | 53 | 53 | 54 | 54 | 54 |
| margin % | 20.6 | 22.4 | 22.4 | 22.4 | 22.4 | 22.4 | 22.4 |
| less depreciation | (5) | (4) | (4) | (4) | (4) | (4) | (4) |
| EBIT | 44 | 48 | 49 | 49 | 49 | 49 | 50 |
| less tax on EBIT | (9) | (10) | (10) | (10) | (10) | (10) | |
| NOPAT | 39 | 39 | 39 | 40 | 40 | 40 | |
| add depreciation | 5 | 4 | 4 | 4 | 4 | 4 | 4 |
| less capex | (4) | (3) | (3) | (4) | (4) | (5) | (5) |
| less working-capital build | — | (0) | (0) | (0) | (0) | (0) | |
| Free cash flow to firm | 57 | — | 40 | 40 | 40 | 39 | 39 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||
| Present value | 38 | 34 | 31 | 27 | 24 |
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 31, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 48 | 49 | 49 | 49 | 49 | 50 |
| Interest at 8% on debt | (2) | (2) | (2) | (2) | (2) | |
| Profit before tax | 46 | 47 | 47 | 47 | 47 | |
| Profit after tax | 0 | 37 | 37 | 38 | 38 | 38 |
| Dividends | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 27 | 65 | 103 | 141 | 178 | 215 |
| Working capital | 2 | 2 | 2 | 2 | 2 | 2 |
| Net block and other assets | 247 | 246 | 245 | 245 | 246 | 247 |
| Debt | 31 | 31 | 31 | 31 | 31 | 31 |
| Equity | 134 | 172 | 209 | 247 | 285 | 323 |
| Balance check | 0 | 0 | 0 | (0) | (0) | (0) |
| Cash flow | ||||||
| From operations | 42 | 42 | 42 | 42 | 42 | |
| Investing (capex) | (3) | (4) | (4) | (5) | (5) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | 38 | 38 | 38 | 37 | 37 | |
| Free cash flow to equity | 38 | 38 | 38 | 37 | 37 | |
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 | 0.5% | 22.4% | 11.00% | 5% | ₹20 | (69.7)% |
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.