Models
COROMANDEL INTERNTL. LTDCOROMANDELFertilizers & Agrochemicals
₹711per 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₹711implied FY26 P/E 11.4× · EV/EBITDA 6.8×
Against CMP ₹1,934.90−63.3%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3194%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
₹511₹1,113
52-week rangetraded range, a fact not a value
₹1,707₹2,499
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 1,244 |
| PV of terminal value | 20,176 |
| Enterprise value | 21,420 |
| less net debt | (445) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 20,975 |
| ÷ 29.50 crore shares | ₹711 |
94% 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% | 738 | 806 | 888 | 988 | 1,113 |
| 10.50% | 668 | 724 | 791 | 872 | 970 |
| 11.00% | 608 | 655 | 711 | 777 | 856 |
| 11.50% | 556 | 596 | 643 | 698 | 762 |
| 12.00% | 511 | 546 | 585 | 631 | 685 |
The outlined cell is your model. Green figures sit above the CMP of ₹1,934.90; 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 | 222 · 697 · 1,090 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.86 |
| Rank correlation with revenue growth | −0.41 |
| Rank correlation with discount rate | −0.23 |
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 | 29,628 | 22,058 | 24,085 | 31,480 | 40,923 | 53,200 | 69,161 | 89,909 | 1,16,881 |
| growth % | 55.0 | (25.5) | 9.2 | 30.7 | 30.0 | 30.0 | 30.0 | 30.0 | 30.0 |
| EBITDA | 2,926 | 2,399 | 2,975 | 3,146 | 4,092 | 5,320 | 6,916 | 8,991 | 11,688 |
| margin % | 9.9 | 10.9 | 12.4 | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 |
| less depreciation | (182) | (229) | (290) | (534) | (696) | (904) | (1,176) | (1,528) | (1,987) |
| EBIT | 2,744 | 2,170 | 2,685 | 2,612 | 3,397 | 4,416 | 5,740 | 7,462 | 9,701 |
| less tax on EBIT | (718) | (934) | (1,214) | (1,579) | (2,052) | (2,668) | |||
| NOPAT | 1,894 | 2,463 | 3,201 | 4,162 | 5,410 | 7,033 | |||
| add depreciation | 182 | 229 | 290 | 534 | 696 | 904 | 1,176 | 1,528 | 1,987 |
| less capex | (605) | (527) | (851) | (1,540) | (2,005) | (2,226) | (2,400) | (2,477) | (2,384) |
| less working-capital build | — | (1,643) | (2,136) | (2,777) | (3,610) | (4,693) | |||
| Free cash flow to firm | 1,010 | 831 | 119 | — | (490) | (257) | 161 | 852 | 1,943 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | (465) | (220) | 124 | 591 | 1,215 |
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 867, dividends at 27% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 2,612 | 3,397 | 4,416 | 5,740 | 7,462 | 9,701 |
| Interest at 8% on debt | (69) | (69) | (69) | (69) | (69) | |
| Profit before tax | 3,327 | 4,346 | 5,671 | 7,393 | 9,632 | |
| Profit after tax | 1,956 | 2,412 | 3,151 | 4,111 | 5,360 | 6,983 |
| Dividends | (529) | (651) | (851) | (1,110) | (1,447) | (1,885) |
| Balance sheet, year end | ||||||
| Cash | 423 | (769) | (1,927) | (2,927) | (3,573) | (3,566) |
| Working capital | 5,477 | 7,120 | 9,256 | 12,033 | 15,643 | 20,336 |
| Net block and other assets | 18,604 | 19,914 | 21,236 | 22,460 | 23,409 | 23,806 |
| Debt | 867 | 867 | 867 | 867 | 867 | 867 |
| Equity | 13,133 | 14,894 | 17,194 | 20,196 | 24,109 | 29,206 |
| Balance check | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 1,465 | 1,919 | 2,510 | 3,278 | 4,277 | |
| Investing (capex) | (2,005) | (2,226) | (2,400) | (2,477) | (2,384) | |
| Financing (dividends) | (651) | (851) | (1,110) | (1,447) | (1,885) | |
| Net change in cash | (1,192) | (1,158) | (1,000) | (646) | 7 | |
| Free cash flow to equity | (541) | (307) | 110 | 801 | 1,892 | |
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% | 10% | 11.00% | 5% | ₹711 | (63.3)% |
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.