Models
DIVYASHAKTI LIMITEDBSE 526315Other Construction Materials
₹36per 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₹36implied FY26 P/E 77.1× · EV/EBITDA (79.0)×
Against CMP ₹71.10−49.0%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3162%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
₹29₹51
52-week rangetraded range, a fact not a value
₹44₹87
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 16 |
| PV of terminal value | 26 |
| Enterprise value | 42 |
| less net debt | (5) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 37 |
| ÷ 1.03 crore shares | ₹36 |
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% | 37 | 40 | 43 | 47 | 51 |
| 10.50% | 35 | 37 | 39 | 42 | 46 |
| 11.00% | 32 | 34 | 36 | 39 | 42 |
| 11.50% | 30 | 32 | 34 | 36 | 38 |
| 12.00% | 29 | 30 | 31 | 33 | 35 |
The outlined cell is your model. Green figures sit above the CMP of ₹71.10; 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 | 33 · 36 · 41 |
| Draws below the CMP | 100% |
| Rank correlation with discount rate | −1.00 |
| Rank correlation with revenue growth | +0.01 |
| Rank correlation with ebitda margin | +0.01 |
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 | 76 | 70 | 64 | 35 | 33 | 31 | 30 | 28 | 27 |
| growth % | 18.8 | (7.6) | (8.5) | (45.6) | (5.0) | (5.0) | (5.0) | (5.0) | (5.0) |
| EBITDA | 6 | 3 | 1 | (1) | (0) | (0) | (0) | (0) | (0) |
| margin % | 7.5 | 4.2 | 2.3 | (1.5) | (1.5) | (1.5) | (1.5) | (1.5) | (1.5) |
| less depreciation | (3) | (2) | (2) | (2) | (2) | (2) | (2) | (2) | (2) |
| EBIT | 3 | 0 | (1) | (3) | (3) | (3) | (2) | (2) | (2) |
| less tax on EBIT | 1 | 1 | 1 | 1 | 1 | 1 | |||
| NOPAT | (2) | (2) | (2) | (2) | (2) | (2) | |||
| add depreciation | 3 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| less capex | (1) | 0 | (0) | (0) | (0) | (1) | (1) | (2) | (2) |
| less working-capital build | — | 5 | 5 | 5 | 5 | 4 | |||
| Free cash flow to firm | (10) | (2) | (4) | — | 6 | 5 | 4 | 3 | 3 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 5 | 4 | 3 | 2 | 2 |
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 5, dividends at 100% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | (3) | (3) | (3) | (2) | (2) | (2) |
| Interest at 3.5% on debt | (0) | (0) | (0) | (0) | (0) | |
| Profit before tax | (3) | (3) | (3) | (2) | (2) | |
| Profit after tax | 1 | (2) | (2) | (2) | (2) | (2) |
| Dividends | (2) | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 0 | 6 | 10 | 14 | 17 | 20 |
| Working capital | 110 | 104 | 99 | 94 | 90 | 85 |
| Net block and other assets | 103 | 101 | 100 | 99 | 99 | 99 |
| Debt | 5 | 5 | 5 | 5 | 5 | 5 |
| Equity | 197 | 195 | 193 | 191 | 189 | 187 |
| Balance check | 0 | 0 | (0) | (0) | (0) | 0 |
| Cash flow | ||||||
| From operations | 6 | 5 | 5 | 5 | 4 | |
| Investing (capex) | (0) | (1) | (1) | (2) | (2) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | 5 | 5 | 4 | 3 | 2 | |
| Free cash flow to equity | 5 | 5 | 4 | 3 | 2 | |
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 | -5% | -1.5% | 11.00% | 5% | ₹36 | (49.0)% |
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.