Models
BETA DRUGS LIMITEDBETAPharmaceuticals & Biotechnology
₹495per 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₹495implied FY26 P/E 6.2× · EV/EBITDA 7.6×
Against CMP ₹1,920.00−74.2%close of 8 Oct 2026
Growth the CMP implies—%no growth rate between −20% and 45% a year brings the value to the CMP on your other inputs
Value after FY3185%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
₹367₹752
52-week rangetraded range, a fact not a value
₹990₹2,808
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 89 |
| PV of terminal value | 483 |
| Enterprise value | 572 |
| less net debt | (23) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 549 |
| ÷ 1.11 crore shares | ₹495 |
85% 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% | 513 | 557 | 609 | 673 | 752 |
| 10.50% | 468 | 504 | 547 | 598 | 661 |
| 11.00% | 429 | 460 | 495 | 537 | 588 |
| 11.50% | 396 | 422 | 452 | 487 | 528 |
| 12.00% | 367 | 389 | 414 | 444 | 478 |
The outlined cell is your model. Green figures sit above the CMP of ₹1,920.00; 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 | 382 · 490 · 620 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.80 |
| Rank correlation with discount rate | −0.56 |
| Rank correlation with revenue growth | +0.06 |
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 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|---|
| Revenue | 362 | 385 | 408 | 432 | 458 | 486 | 515 |
| growth % | — | 6.2 | 6.0 | 6.0 | 6.0 | 6.0 | 6.0 |
| EBITDA | — | 76 | 80 | 85 | 90 | 96 | 101 |
| margin % | — | 19.7 | 19.7 | 19.7 | 19.7 | 19.7 | 19.7 |
| less depreciation | — | (17) | (18) | (19) | (21) | (22) | (23) |
| EBIT | — | 59 | 62 | 66 | 70 | 74 | 78 |
| less tax on EBIT | (14) | (15) | (16) | (17) | (18) | (19) | |
| NOPAT | 45 | 47 | 50 | 53 | 56 | 60 | |
| add depreciation | — | 17 | 18 | 19 | 21 | 22 | 23 |
| less capex | (33) | (50) | (53) | (48) | (42) | (36) | (28) |
| less working-capital build | — | (7) | (7) | (8) | (8) | (9) | |
| Free cash flow to firm | (1) | — | 5 | 14 | 24 | 35 | 47 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||
| Present value | 5 | 12 | 18 | 24 | 29 |
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 148, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 59 | 62 | 66 | 70 | 74 | 78 |
| Interest at 10.4% on debt | (15) | (15) | (15) | (15) | (15) | |
| Profit before tax | 47 | 50 | 54 | 58 | 63 | |
| Profit after tax | 41 | 36 | 38 | 41 | 45 | 48 |
| Dividends | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 125 | 119 | 121 | 133 | 156 | 191 |
| Working capital | 113 | 120 | 127 | 134 | 143 | 151 |
| Net block and other assets | 258 | 293 | 322 | 344 | 357 | 362 |
| Debt | 148 | 148 | 148 | 148 | 148 | 148 |
| Equity | 245 | 280 | 319 | 360 | 405 | 453 |
| Balance check | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 47 | 51 | 54 | 58 | 63 | |
| Investing (capex) | (53) | (48) | (42) | (36) | (28) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | (6) | 2 | 12 | 23 | 35 | |
| Free cash flow to equity | (6) | 2 | 12 | 23 | 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 | 6% | 19.7% | 11.00% | 5% | ₹495 | (74.2)% |
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.