Models
BEDMUTHA INDUST LTDBEDMUTHAIndustrial Products
₹135per 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₹135implied FY26 P/E 26.0× · EV/EBITDA 10.7×
Against CMP ₹103.52+30.3%close of 2026-09-10
Growth the CMP implies23.6%revenue, a year for 5 years, on your other inputs
Value after FY31117%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
₹68₹270
52-week rangetraded range, a fact not a value
₹95₹150
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | (110) |
| PV of terminal value | 743 |
| Enterprise value | 633 |
| less net debt | (198) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 435 |
| ÷ 3.23 crore shares | ₹135 |
117% 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% | 143 | 166 | 194 | 227 | 270 |
| 10.50% | 120 | 139 | 162 | 189 | 222 |
| 11.00% | 100 | 116 | 135 | 157 | 184 |
| 11.50% | 83 | 97 | 112 | 131 | 153 |
| 12.00% | 68 | 80 | 93 | 109 | 127 |
The outlined cell is your model. Green figures sit above the CMP of ₹103.52; 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 | 41 · 129 · 241 |
| Draws below the CMP | 37% |
| Rank correlation with ebitda margin | +0.85 |
| Rank correlation with revenue growth | +0.33 |
| Rank correlation with discount rate | −0.32 |
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 | 687 | 812 | 1,049 | 1,467 | 1,907 | 2,479 | 3,222 | 4,189 | 5,446 |
| growth % | 4.0 | 18.2 | 29.2 | 39.8 | 30.0 | 30.0 | 30.0 | 30.0 | 30.0 |
| EBITDA | 17 | 26 | 34 | 59 | 76 | 99 | 129 | 168 | 218 |
| margin % | 2.4 | 3.2 | 3.2 | 4.0 | 4.0 | 4.0 | 4.0 | 4.0 | 4.0 |
| less depreciation | (32) | (27) | (20) | (25) | (32) | (42) | (55) | (71) | (93) |
| EBIT | (15) | (0) | 14 | 34 | 44 | 57 | 74 | 96 | 125 |
| less tax on EBIT | 0 | 0 | 0 | 0 | 0 | 0 | |||
| NOPAT | 34 | 44 | 57 | 74 | 96 | 125 | |||
| add depreciation | 32 | 27 | 20 | 25 | 32 | 42 | 55 | 71 | 93 |
| less capex | (11) | (29) | (56) | (106) | (137) | (146) | (149) | (139) | (111) |
| less working-capital build | — | (12) | (16) | (21) | (27) | (35) | |||
| Free cash flow to firm | 62 | 45 | 52 | — | (73) | (63) | (41) | 1 | 72 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | (70) | (54) | (31) | 1 | 45 |
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 208, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 34 | 44 | 57 | 74 | 96 | 125 |
| Interest at 8% on debt | (17) | (17) | (17) | (17) | (17) | |
| Profit before tax | 27 | 40 | 57 | 80 | 109 | |
| Profit after tax | 0 | 27 | 40 | 57 | 80 | 109 |
| Dividends | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 10 | (80) | (160) | (218) | (233) | (178) |
| Working capital | 41 | 53 | 69 | 90 | 117 | 152 |
| Net block and other assets | 675 | 780 | 885 | 979 | 1,047 | 1,066 |
| Debt | 208 | 208 | 208 | 208 | 208 | 208 |
| Equity | 152 | 179 | 219 | 277 | 357 | 465 |
| Balance check | 0 | (0) | 0 | 0 | 0 | (0) |
| Cash flow | ||||||
| From operations | 47 | 67 | 91 | 124 | 166 | |
| Investing (capex) | (137) | (146) | (149) | (139) | (111) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | (90) | (80) | (57) | (16) | 55 | |
| Free cash flow to equity | (90) | (80) | (57) | (16) | 55 | |
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 | 30% | 4% | 11.00% | 5% | ₹135 | 30.3% |
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.