Models
Emerald Finance LimitedBSE 538882Finance
₹27per 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₹27implied P/B 0.93× on FY26 book
Against CMP ₹64.00−58.2%close of 2026-09-10
Cost of equity15.83%risk-free + beta × equity risk premium
Book equity, FY26₹29per share · excess returns add ₹(2)
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 | 99 | 114 | 131 | 150 | 173 |
| Net income at 15.3% ROE | 15 | 17 | 20 | 23 | 26 |
| Cost of equity charge at 15.83% | (16) | (18) | (21) | (24) | (27) |
| Excess return | (1) | (1) | (1) | (1) | (1) |
| Present value | (0) | (0) | (0) | (0) | (0) |
| Closing book equity | 114 | 131 | 150 | 173 | 199 |
| Book equity today | 99 |
| PV of 5 years of excess return | (2) |
| PV of the terminal excess return, 5% flat | (4) |
| add non-operating investments | 0 |
| Equity value | 92 |
| ÷ 3.45 crore shares | ₹27 |
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
₹45₹97
Scenarios side by side · ₹ per share
| Scenario | Template | Growth | Margin | Rate | Terminal | ₹ / share | vs CMP |
|---|---|---|---|---|---|---|---|
| Base · editing | Excess return | ROE 15.3% | — | 15.83% | 5% | ₹27 | (58.2)% |
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.