Models
BALAJI AMINES LIMITEDBALAMINESChemicals & Petrochemicals
₹399per 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₹399implied FY26 P/E 6.3× · EV/EBITDA 5.1×
Against CMP ₹2,283.00−82.5%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY31110%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
₹265₹669
52-week rangetraded range, a fact not a value
₹968₹2,630
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | (139) |
| PV of terminal value | 1,492 |
| Enterprise value | 1,353 |
| less net debt | (59) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 1,294 |
| ÷ 3.24 crore shares | ₹399 |
110% 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% | 417 | 463 | 518 | 585 | 669 |
| 10.50% | 370 | 408 | 453 | 507 | 573 |
| 11.00% | 330 | 362 | 399 | 444 | 497 |
| 11.50% | 295 | 323 | 354 | 391 | 434 |
| 12.00% | 265 | 289 | 316 | 347 | 383 |
The outlined cell is your model. Green figures sit above the CMP of ₹2,283.00; 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 | 288 · 395 · 520 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.78 |
| Rank correlation with discount rate | −0.59 |
| Rank correlation with revenue growth | −0.01 |
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 | 2,355 | 1,642 | 1,397 | 1,425 | 1,453 | 1,483 | 1,512 | 1,542 | 1,573 |
| growth % | 1.5 | (30.3) | (14.9) | 2.0 | 2.0 | 2.0 | 2.0 | 2.0 | 2.0 |
| EBITDA | 609 | 324 | 232 | 265 | 270 | 276 | 281 | 287 | 293 |
| margin % | 25.9 | 19.7 | 16.6 | 18.6 | 18.6 | 18.6 | 18.6 | 18.6 | 18.6 |
| less depreciation | (46) | (45) | (48) | (56) | (58) | (59) | (60) | (62) | (63) |
| EBIT | 564 | 278 | 184 | 209 | 212 | 216 | 221 | 225 | 230 |
| less tax on EBIT | (57) | (58) | (59) | (60) | (61) | (62) | |||
| NOPAT | 152 | 154 | 158 | 161 | 164 | 167 | |||
| add depreciation | 46 | 45 | 48 | 56 | 58 | 59 | 60 | 62 | 63 |
| less capex | (120) | (253) | (186) | (370) | (378) | (307) | (233) | (156) | (76) |
| less working-capital build | — | (10) | (10) | (11) | (11) | (11) | |||
| Free cash flow to firm | 262 | (33) | 70 | — | (175) | (100) | (22) | 59 | 144 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | (167) | (86) | (17) | 41 | 90 |
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 133, dividends at 21.1% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 209 | 212 | 216 | 221 | 225 | 230 |
| Interest at 7.5% on debt | (10) | (10) | (10) | (10) | (10) | |
| Profit before tax | 202 | 206 | 211 | 215 | 220 | |
| Profit after tax | 169 | 147 | 150 | 153 | 157 | 160 |
| Dividends | (36) | (31) | (32) | (32) | (33) | (34) |
| Balance sheet, year end | ||||||
| Cash | 74 | (140) | (279) | (341) | (322) | (220) |
| Working capital | 508 | 518 | 528 | 539 | 550 | 561 |
| Net block and other assets | 2,161 | 2,480 | 2,728 | 2,900 | 2,995 | 3,007 |
| Debt | 133 | 133 | 133 | 133 | 133 | 133 |
| Equity | 2,152 | 2,268 | 2,386 | 2,508 | 2,631 | 2,757 |
| Balance check | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 195 | 199 | 203 | 208 | 212 | |
| Investing (capex) | (378) | (307) | (233) | (156) | (76) | |
| Financing (dividends) | (31) | (32) | (32) | (33) | (34) | |
| Net change in cash | (214) | (139) | (62) | 19 | 103 | |
| Free cash flow to equity | (183) | (108) | (29) | 52 | 136 | |
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 | 2% | 18.6% | 11.00% | 5% | ₹399 | (82.5)% |
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.