Models
CP CAPITAL LIMITEDCPCAP
₹1,229per 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₹1,229implied FY26 P/E 49.5× · EV/EBITDA 35.1×
Against CMP ₹151.70+710.0%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 FY3181%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
₹934₹1,817
52-week rangetraded range, a fact not a value
₹74₹162
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 420 |
| PV of terminal value | 1,813 |
| Enterprise value | 2,232 |
| less net debt | 3 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 2,235 |
| ÷ 1.82 crore shares | ₹1,229 |
81% 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% | 1,271 | 1,370 | 1,489 | 1,635 | 1,817 |
| 10.50% | 1,167 | 1,250 | 1,347 | 1,464 | 1,607 |
| 11.00% | 1,078 | 1,148 | 1,229 | 1,324 | 1,439 |
| 11.50% | 1,001 | 1,061 | 1,129 | 1,208 | 1,302 |
| 12.00% | 934 | 985 | 1,043 | 1,110 | 1,188 |
The outlined cell is your model. Green figures sit above the CMP of ₹151.70; 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 | 890 · 1,221 · 1,656 |
| Draws below the CMP | 0% |
| Rank correlation with revenue growth | +0.84 |
| Rank correlation with discount rate | −0.40 |
| Rank correlation with ebitda margin | +0.30 |
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 | 85 | 102 | 57 | 76 | 99 | 129 | 168 | 218 | 283 |
| growth % | 57.4 | 19.0 | (44.3) | 34.8 | 30.0 | 30.0 | 30.0 | 30.0 | 30.0 |
| EBITDA | 15 | 66 | 48 | 64 | 83 | 107 | 140 | 182 | 236 |
| margin % | 17.9 | 64.7 | 85.3 | 83.3 | 83.3 | 83.3 | 83.3 | 83.3 | 83.3 |
| less depreciation | (4) | (4) | (3) | (3) | (4) | (5) | (6) | (8) | (10) |
| EBIT | 11 | 62 | 45 | 61 | 79 | 103 | 134 | 174 | 226 |
| less tax on EBIT | (13) | (16) | (21) | (28) | (36) | (47) | |||
| NOPAT | 48 | 63 | 81 | 106 | 138 | 179 | |||
| add depreciation | 4 | 4 | 3 | 3 | 4 | 5 | 6 | 8 | 10 |
| less capex | (1) | (0) | 0 | 0 | 0 | (1) | (4) | (7) | (12) |
| less working-capital build | — | (1) | (1) | (1) | (2) | (2) | |||
| Free cash flow to firm | 2 | (29) | (19) | — | 65 | 84 | 107 | 137 | 175 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 62 | 72 | 82 | 95 | 109 |
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 0, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 61 | 79 | 103 | 134 | 174 | 226 |
| Interest at 8% on debt | 0 | 0 | 0 | 0 | 0 | |
| Profit before tax | 79 | 103 | 134 | 174 | 226 | |
| Profit after tax | 43 | 63 | 81 | 106 | 138 | 179 |
| Dividends | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 3 | 68 | 152 | 259 | 395 | 570 |
| Working capital | 3 | 3 | 5 | 6 | 8 | 10 |
| Net block and other assets | 657 | 653 | 650 | 648 | 647 | 649 |
| Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity | 573 | 636 | 717 | 823 | 960 | 1,139 |
| Balance check | 0 | 0 | (0) | (0) | (0) | (0) |
| Cash flow | ||||||
| From operations | 65 | 85 | 111 | 144 | 187 | |
| Investing (capex) | 0 | (1) | (4) | (7) | (12) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | 65 | 84 | 107 | 137 | 175 | |
| Free cash flow to equity | 65 | 84 | 107 | 137 | 175 | |
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% | 83.3% | 11.00% | 5% | ₹1,229 | 710.0% |
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.