Models
ARMAN FIN SERV LTDARMANFINFinance
₹76per 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₹76implied P/B 0.09× on FY26 book
Against CMP ₹2,014.00−96.2%close of 2026-09-10
Cost of equity13.19%risk-free + beta × equity risk premium
Book equity, FY26₹887per share · excess returns add ₹(811)
This figure is the arithmetic of your inputs and nothing else. MarketPing publishes no fair value, target or rating; the model is yours.
Excess-return schedule · ₹ crore · book equity earns your ROE; value is book plus the returns above the cost of equity
| ₹ crore | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|
| Opening book equity | 933 | 990 | 1,050 | 1,114 | 1,182 |
| Net income at 6.1% ROE | 57 | 60 | 64 | 68 | 72 |
| Cost of equity charge at 13.19% | (123) | (131) | (139) | (147) | (156) |
| Excess return | (66) | (70) | (75) | (79) | (84) |
| Present value | (62) | (58) | (55) | (51) | (48) |
| Closing book equity | 990 | 1,050 | 1,114 | 1,182 | 1,254 |
| Book equity today | 933 |
| PV of 5 years of excess return | (274) |
| PV of the terminal excess return, 5% flat | (578) |
| add non-operating investments | 0 |
| Equity value | 80 |
| ÷ 1.05 crore shares | ₹76 |
ROE is at or below the cost of equity, so every year destroys value against book and the model lands below book value. That is the arithmetic, not a view.
Where the methods land · ₹ per share · the dashed line is the CMP
52-week rangetraded range, a fact not a value
₹1,301₹2,159
Scenarios side by side · ₹ per share
| Scenario | Template | Growth | Margin | Rate | Terminal | ₹ / share | vs CMP |
|---|---|---|---|---|---|---|---|
| Base · editing | Excess return | ROE 6.1% | — | 13.19% | 5% | ₹76 | (96.2)% |
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.