Models
BHARAT WIRE ROPES LTD.BHARATWIREIndustrial Products
₹231per 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₹231implied FY24 P/E 16.3× · EV/EBITDA 10.5×
Against CMP ₹172.90+33.9%close of 2026-09-10
Growth the CMP implies(4.4)%revenue, a year for 5 years, on your other inputs
Value after FY2974%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
₹176₹341
52-week rangetraded range, a fact not a value
₹148₹262
From enterprise to equity · ₹ crore
| PV of FY25–FY29 free cash flow | 448 |
| PV of terminal value | 1,271 |
| Enterprise value | 1,719 |
| less net debt | (132) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 1,587 |
| ÷ 6.86 crore shares | ₹231 |
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% | 240 | 258 | 280 | 307 | 341 |
| 10.50% | 220 | 235 | 254 | 275 | 302 |
| 11.00% | 203 | 216 | 231 | 249 | 271 |
| 11.50% | 189 | 200 | 213 | 228 | 245 |
| 12.00% | 176 | 186 | 197 | 209 | 224 |
The outlined cell is your model. Green figures sit above the CMP of ₹172.90; 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 | 189 · 229 · 279 |
| Draws below the CMP | 3% |
| Rank correlation with ebitda margin | +0.70 |
| Rank correlation with discount rate | −0.65 |
| Rank correlation with revenue growth | +0.18 |
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 |
|---|---|---|---|---|---|---|---|
| Revenue | 589 | 622 | 656 | 692 | 730 | 770 | 813 |
| growth % | — | 5.6 | 5.5 | 5.5 | 5.5 | 5.5 | 5.5 |
| EBITDA | 139 | 164 | 173 | 183 | 193 | 203 | 215 |
| margin % | 23.6 | 26.4 | 26.4 | 26.4 | 26.4 | 26.4 | 26.4 |
| less depreciation | (21) | (21) | (22) | (24) | (25) | (26) | (28) |
| EBIT | 118 | 143 | 151 | 159 | 168 | 177 | 187 |
| less tax on EBIT | (36) | (38) | (40) | (42) | (45) | (47) | |
| NOPAT | 107 | 113 | 119 | 125 | 132 | 140 | |
| add depreciation | 21 | 21 | 22 | 24 | 25 | 26 | 28 |
| less capex | (10) | (16) | (16) | (20) | (24) | (28) | (33) |
| less working-capital build | — | (9) | (10) | (11) | (11) | (12) | |
| Free cash flow to firm | 73 | — | 109 | 112 | 116 | 119 | 122 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||
| Present value | 104 | 96 | 89 | 83 | 77 |
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 132, dividends at 0% of profit
| ₹ crore | FY24 | FY25 | FY26 | FY27 | FY28 | FY29 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 143 | 151 | 159 | 168 | 177 | 187 |
| Interest at 9.4% on debt | (12) | (12) | (12) | (12) | (12) | |
| Profit before tax | 138 | 147 | 156 | 165 | 174 | |
| Profit after tax | 0 | 103 | 110 | 116 | 123 | 130 |
| Dividends | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 0 | 100 | 203 | 310 | 419 | 532 |
| Working capital | 172 | 181 | 191 | 202 | 213 | 225 |
| Net block and other assets | 645 | 639 | 636 | 635 | 637 | 643 |
| Debt | 132 | 132 | 132 | 132 | 132 | 132 |
| Equity | 661 | 764 | 874 | 990 | 1,113 | 1,243 |
| Balance check | 0 | 0 | 0 | 0 | 0 | (0) |
| Cash flow | ||||||
| From operations | 116 | 123 | 130 | 138 | 146 | |
| Investing (capex) | (16) | (20) | (24) | (28) | (33) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | 100 | 103 | 106 | 110 | 113 | |
| Free cash flow to equity | 100 | 103 | 106 | 110 | 113 | |
Other liabilities are held at their FY24 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 | 5.5% | 26.4% | 11.00% | 5% | ₹231 | 33.9% |
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.