Models
DHUNSERI TEA & IND. LTD.DTILAgricultural Food & other Products
₹1,972per 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₹1,972implied FY26 P/E —× · EV/EBITDA (2196.0)×
Against CMP ₹145.34+1256.6%close of 2026-09-20
Growth the CMP implies(20.0)%revenue, a year for 5 years, on your other inputs
Value after FY3175%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
₹1,483₹2,947
52-week rangetraded range, a fact not a value
₹102₹194
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 563 |
| PV of terminal value | 1,732 |
| Enterprise value | 2,295 |
| less net debt | (223) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 2,072 |
| ÷ 1.05 crore shares | ₹1,972 |
75% 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% | 2,043 | 2,208 | 2,405 | 2,646 | 2,947 |
| 10.50% | 1,871 | 2,007 | 2,168 | 2,362 | 2,599 |
| 11.00% | 1,723 | 1,838 | 1,972 | 2,130 | 2,320 |
| 11.50% | 1,595 | 1,692 | 1,805 | 1,937 | 2,092 |
| 12.00% | 1,483 | 1,567 | 1,663 | 1,774 | 1,903 |
The outlined cell is your model. Green figures sit above the CMP of ₹145.34; 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 | 1,725 · 1,973 · 2,297 |
| Draws below the CMP | 0% |
| Rank correlation with discount rate | −0.97 |
| Rank correlation with revenue growth | +0.23 |
| Rank correlation with ebitda margin | −0.03 |
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 | 337 | 395 | 456 | 471 | 485 | 500 | 515 | 530 | 546 |
| growth % | (3.3) | 17.2 | 15.4 | 3.2 | 3.0 | 3.0 | 3.0 | 3.0 | 3.0 |
| EBITDA | (12) | (137) | 6 | (1) | (1) | (1) | (1) | (1) | (1) |
| margin % | (3.6) | (34.8) | 1.4 | (0.2) | (0.2) | (0.2) | (0.2) | (0.2) | (0.2) |
| less depreciation | (19) | (22) | (19) | (19) | (19) | (20) | (21) | (21) | (22) |
| EBIT | (31) | (159) | (13) | (20) | (20) | (21) | (22) | (22) | (23) |
| less tax on EBIT | 169 | 173 | 178 | 184 | 189 | 195 | |||
| NOPAT | 149 | 153 | 157 | 162 | 167 | 172 | |||
| add depreciation | 19 | 22 | 19 | 19 | 19 | 20 | 21 | 21 | 22 |
| less capex | (204) | (43) | (32) | (43) | (44) | (40) | (36) | (31) | (26) |
| less working-capital build | — | (1) | (1) | (1) | (1) | (1) | |||
| Free cash flow to firm | (184) | (126) | (34) | — | 127 | 136 | 146 | 156 | 167 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 121 | 117 | 113 | 108 | 104 |
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 249, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | (20) | (20) | (21) | (22) | (22) | (23) |
| Interest at 7.9% on debt | (20) | (20) | (20) | (20) | (20) | |
| Profit before tax | (40) | (41) | (41) | (42) | (43) | |
| Profit after tax | 0 | 300 | 304 | 309 | 314 | 319 |
| Dividends | (1) | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 26 | 301 | 585 | 878 | 1,182 | 1,496 |
| Working capital | 19 | 20 | 21 | 21 | 22 | 23 |
| Net block and other assets | 919 | 944 | 964 | 979 | 989 | 994 |
| Debt | 249 | 249 | 249 | 249 | 249 | 249 |
| Equity | 529 | 829 | 1,134 | 1,443 | 1,757 | 2,076 |
| Balance check | 0 | (0) | (0) | 0 | 0 | (0) |
| Cash flow | ||||||
| From operations | 319 | 324 | 329 | 335 | 340 | |
| Investing (capex) | (44) | (40) | (36) | (31) | (26) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | 275 | 284 | 293 | 303 | 314 | |
| Free cash flow to equity | 275 | 284 | 293 | 303 | 314 | |
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 | 3% | -0.2% | 11.00% | 5% | ₹1,972 | 1256.6% |
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.