Models
AMINES & PLASTICIZERS LTDAMNPLSTChemicals & Petrochemicals
₹105per 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₹105implied FY26 P/E 14.9× · EV/EBITDA 9.3×
Against CMP ₹165.20−36.7%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3169%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
₹84₹146
52-week rangetraded range, a fact not a value
₹127₹250
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 173 |
| PV of terminal value | 381 |
| Enterprise value | 554 |
| less net debt | 22 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 576 |
| ÷ 5.50 crore shares | ₹105 |
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% | 108 | 115 | 123 | 133 | 146 |
| 10.50% | 100 | 106 | 113 | 121 | 131 |
| 11.00% | 94 | 99 | 105 | 111 | 119 |
| 11.50% | 89 | 93 | 98 | 103 | 110 |
| 12.00% | 84 | 88 | 92 | 96 | 102 |
The outlined cell is your model. Green figures sit above the CMP of ₹165.20; 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 | 91 · 105 · 121 |
| Draws below the CMP | 100% |
| Rank correlation with discount rate | −0.78 |
| Rank correlation with ebitda margin | +0.61 |
| Rank correlation with revenue growth | −0.03 |
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 | FY23 | FY24 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 597 | 647 | 661 | 571 | 542 | 515 | 490 | 465 | 442 |
| growth % | 6.1 | 8.3 | 2.1 | (13.6) | (5.0) | (5.0) | (5.0) | (5.0) | (5.0) |
| EBITDA | 42 | 69 | 69 | 60 | 57 | 54 | 51 | 49 | 46 |
| margin % | 7.1 | 10.7 | 10.4 | 10.5 | 10.5 | 10.5 | 10.5 | 10.5 | 10.5 |
| less depreciation | (5) | (5) | (6) | (6) | (5) | (5) | (5) | (5) | (4) |
| EBIT | 38 | 64 | 63 | 54 | 52 | 49 | 47 | 44 | 42 |
| less tax on EBIT | (14) | (13) | (13) | (12) | (11) | (11) | |||
| NOPAT | 40 | 38 | 36 | 34 | 33 | 31 | |||
| add depreciation | 5 | 5 | 6 | 6 | 5 | 5 | 5 | 5 | 4 |
| less capex | (2) | (4) | (4) | (1) | (1) | (2) | (3) | (4) | (5) |
| less working-capital build | — | 8 | 8 | 7 | 7 | 7 | |||
| Free cash flow to firm | 2 | 43 | 26 | — | 51 | 47 | 43 | 40 | 37 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 48 | 40 | 33 | 28 | 23 |
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 27, dividends at 7.5% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 54 | 52 | 49 | 47 | 44 | 42 |
| Interest at 10.5% on debt | (3) | (3) | (3) | (3) | (3) | |
| Profit before tax | 49 | 46 | 44 | 41 | 39 | |
| Profit after tax | 37 | 36 | 34 | 32 | 31 | 29 |
| Dividends | (3) | (3) | (3) | (2) | (2) | (2) |
| Balance sheet, year end | ||||||
| Cash | 49 | 95 | 138 | 177 | 212 | 244 |
| Working capital | 160 | 152 | 144 | 137 | 130 | 124 |
| Net block and other assets | 213 | 208 | 205 | 203 | 203 | 204 |
| Debt | 27 | 27 | 27 | 27 | 27 | 27 |
| Equity | 292 | 326 | 357 | 387 | 415 | 442 |
| Balance check | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 49 | 47 | 44 | 42 | 40 | |
| Investing (capex) | (1) | (2) | (3) | (4) | (5) | |
| Financing (dividends) | (3) | (3) | (2) | (2) | (2) | |
| Net change in cash | 46 | 42 | 39 | 35 | 32 | |
| Free cash flow to equity | 49 | 45 | 41 | 38 | 35 | |
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 | -5% | 10.5% | 11.00% | 5% | ₹105 | (36.7)% |
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.