₹37per 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₹37implied P/B 0.59× on FY26 book
Against CMP ₹132.97−72.2%close of 2026-09-10
Cost of equity16.48%risk-free + beta × equity risk premium
Book equity, FY26₹63per share · excess returns add ₹(26)
This figure is the arithmetic of your inputs and nothing else. MarketPing publishes no fair value, target or rating; the model is yours.
Excess-return schedule · ₹ crore · book equity earns your ROE; value is book plus the returns above the cost of equity
| ₹ crore | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|
| Opening book equity | 5,944 | 6,031 | 6,120 | 6,210 | 6,301 |
| Net income at 11.4% ROE | 678 | 688 | 698 | 708 | 718 |
| Cost of equity charge at 16.48% | (980) | (994) | (1,009) | (1,024) | (1,039) |
| Excess return | (302) | (307) | (311) | (316) | (320) |
| Present value | (280) | (244) | (212) | (185) | (161) |
| Closing book equity | 6,031 | 6,120 | 6,210 | 6,301 | 6,394 |
| Book equity today | 5,944 |
| PV of 5 years of excess return | (1,083) |
| PV of the terminal excess return, 5% flat | (1,366) |
| add non-operating investments | 0 |
| Equity value | 3,496 |
| ÷ 94.65 crore shares | ₹37 |
ROE is at or below the cost of equity, so every year destroys value against book and the model lands below book value. That is the arithmetic, not a view.
Where the methods land · ₹ per share · the dashed line is the CMP
52-week rangetraded range, a fact not a value
₹98₹141
Scenarios side by side · ₹ per share
| Scenario | Template | Growth | Margin | Rate | Terminal | ₹ / share | vs CMP |
|---|---|---|---|---|---|---|---|
| Base · editing | Excess return | ROE 11.4% | — | 16.48% | 5% | ₹37 | (72.2)% |
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.