Models
DANISH POWER LIMITEDDANISH
₹514per 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₹514implied FY26 P/E —× · EV/EBITDA 10.7×
Against CMP ₹1,004.60−48.8%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3197%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
₹372₹800
52-week rangetraded range, a fact not a value
₹551₹1,095
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 32 |
| PV of terminal value | 958 |
| Enterprise value | 991 |
| less net debt | 22 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 1,013 |
| ÷ 1.97 crore shares | ₹514 |
97% 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% | 533 | 582 | 640 | 711 | 800 |
| 10.50% | 483 | 524 | 571 | 629 | 698 |
| 11.00% | 441 | 475 | 514 | 561 | 617 |
| 11.50% | 404 | 433 | 466 | 505 | 551 |
| 12.00% | 372 | 397 | 425 | 458 | 496 |
The outlined cell is your model. Green figures sit above the CMP of ₹1,004.60; 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 | 367 · 506 · 664 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.84 |
| Rank correlation with discount rate | −0.48 |
| Rank correlation with revenue growth | +0.04 |
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 | 427 | 521 | 636 | 776 | 947 | 1,155 | 1,409 |
| growth % | — | 22.2 | 22.0 | 22.0 | 22.0 | 22.0 | 22.0 |
| EBITDA | — | 92 | 113 | 137 | 168 | 204 | 249 |
| margin % | — | 17.7 | 17.7 | 17.7 | 17.7 | 17.7 | 17.7 |
| less depreciation | — | (7) | (9) | (11) | (13) | (16) | (20) |
| EBIT | — | 85 | 104 | 127 | 154 | 188 | 230 |
| less tax on EBIT | (20) | (25) | (30) | (37) | (45) | (54) | |
| NOPAT | 65 | 79 | 97 | 118 | 144 | 175 | |
| add depreciation | — | 7 | 9 | 11 | 13 | 16 | 20 |
| less capex | (46) | (74) | (90) | (86) | (75) | (56) | (24) |
| less working-capital build | — | (36) | (44) | (53) | (65) | (79) | |
| Free cash flow to firm | (65) | — | (38) | (22) | 3 | 39 | 92 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||
| Present value | (36) | (19) | 2 | 27 | 58 |
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 2, dividends at 4.3% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 85 | 104 | 127 | 154 | 188 | 230 |
| Interest at 8% on debt | (0) | (0) | (0) | (0) | (0) | |
| Profit before tax | 104 | 126 | 154 | 188 | 230 | |
| Profit after tax | 69 | 79 | 96 | 118 | 144 | 175 |
| Dividends | (3) | (3) | (4) | (5) | (6) | (8) |
| Balance sheet, year end | ||||||
| Cash | 24 | (17) | (44) | (46) | (13) | 72 |
| Working capital | 162 | 198 | 241 | 294 | 359 | 438 |
| Net block and other assets | 390 | 472 | 547 | 609 | 648 | 652 |
| Debt | 2 | 2 | 2 | 2 | 2 | 2 |
| Equity | 461 | 537 | 629 | 742 | 879 | 1,047 |
| Balance check | 0 | 0 | 0 | 0 | (0) | 0 |
| Cash flow | ||||||
| From operations | 52 | 64 | 78 | 95 | 116 | |
| Investing (capex) | (90) | (86) | (75) | (56) | (24) | |
| Financing (dividends) | (3) | (4) | (5) | (6) | (8) | |
| Net change in cash | (42) | (26) | (2) | 33 | 85 | |
| Free cash flow to equity | (38) | (22) | 3 | 39 | 92 | |
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 | 22% | 17.7% | 11.00% | 5% | ₹514 | (48.8)% |
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.