Models
BEST AGROLIFE LIMITEDBESTAGROFertilizers & Agrochemicals
₹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 1.1× · EV/EBITDA 10.9×
Against CMP ₹19.09+2.3%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3165%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
₹14₹31
52-week rangetraded range, a fact not a value
₹12₹34
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 381 |
| PV of terminal value | 710 |
| Enterprise value | 1,091 |
| less net debt | (398) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 693 |
| ÷ 35.47 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 | 25 | 28 | 31 |
| 10.50% | 18 | 20 | 22 | 24 | 27 |
| 11.00% | 17 | 18 | 20 | 21 | 24 |
| 11.50% | 15 | 16 | 17 | 19 | 21 |
| 12.00% | 14 | 15 | 16 | 17 | 19 |
The outlined cell is your model. Green figures sit above the CMP of ₹19.09; 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 | 16 · 20 · 24 |
| Draws below the CMP | 45% |
| Rank correlation with discount rate | −0.75 |
| Rank correlation with ebitda margin | +0.64 |
| 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 | 1,746 | 1,873 | 1,814 | 1,257 | 1,194 | 1,134 | 1,077 | 1,024 | 972 |
| growth % | 44.2 | 7.3 | (3.1) | (30.7) | (5.0) | (5.0) | (5.0) | (5.0) | (5.0) |
| EBITDA | 314 | 226 | 200 | 100 | 96 | 91 | 86 | 82 | 78 |
| margin % | 18.0 | 12.0 | 11.0 | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 |
| less depreciation | (25) | (33) | (43) | (42) | (39) | (37) | (36) | (34) | (32) |
| EBIT | 289 | 193 | 157 | 58 | 56 | 53 | 51 | 48 | 46 |
| less tax on EBIT | (6) | (5) | (5) | (5) | (5) | (4) | |||
| NOPAT | 53 | 51 | 48 | 46 | 43 | 41 | |||
| add depreciation | 25 | 33 | 43 | 42 | 39 | 37 | 36 | 34 | 32 |
| less capex | (37) | (46) | (21) | (8) | (7) | (16) | (25) | (32) | (39) |
| less working-capital build | — | 41 | 39 | 37 | 35 | 33 | |||
| Free cash flow to firm | (218) | (4) | 207 | — | 124 | 108 | 94 | 81 | 68 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 118 | 93 | 72 | 56 | 43 |
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 433, dividends at 79.9% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 58 | 56 | 53 | 51 | 48 | 46 |
| Interest at 11.9% on debt | (52) | (52) | (52) | (52) | (52) | |
| Profit before tax | 5 | 2 | (1) | (3) | (6) | |
| Profit after tax | 9 | 4 | 2 | (1) | (3) | (5) |
| Dividends | (7) | (3) | (1) | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 34 | 109 | 169 | 216 | 250 | 272 |
| Working capital | 822 | 781 | 742 | 705 | 669 | 636 |
| Net block and other assets | 830 | 798 | 777 | 766 | 764 | 770 |
| Debt | 433 | 433 | 433 | 433 | 433 | 433 |
| Equity | 769 | 770 | 770 | 769 | 766 | 761 |
| Balance check | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 85 | 78 | 72 | 66 | 60 | |
| Investing (capex) | (7) | (16) | (25) | (32) | (39) | |
| Financing (dividends) | (3) | (1) | 0 | 0 | 0 | |
| Net change in cash | 74 | 60 | 47 | 34 | 22 | |
| Free cash flow to equity | 77 | 62 | 47 | 34 | 22 | |
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% | 8% | 11.00% | 5% | ₹20 | 2.3% |
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.