Models
ENDURANCE TECHNO. LTD.ENDURANCEAuto Components
₹1,702per 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₹1,702implied FY26 P/E 24.7× · EV/EBITDA 12.5×
Against CMP ₹2,699.00−36.9%close of 2026-09-10
Growth the CMP implies41.7%revenue, a year for 5 years, on your other inputs
Value after FY3186%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
₹1,264₹2,579
52-week rangetraded range, a fact not a value
₹2,143₹3,072
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 3,473 |
| PV of terminal value | 20,926 |
| Enterprise value | 24,399 |
| less net debt | (452) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 23,947 |
| ÷ 14.07 crore shares | ₹1,702 |
86% 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% | 1,764 | 1,912 | 2,090 | 2,307 | 2,579 |
| 10.50% | 1,610 | 1,733 | 1,878 | 2,053 | 2,267 |
| 11.00% | 1,478 | 1,582 | 1,702 | 1,845 | 2,017 |
| 11.50% | 1,364 | 1,452 | 1,554 | 1,673 | 1,813 |
| 12.00% | 1,264 | 1,340 | 1,427 | 1,527 | 1,644 |
The outlined cell is your model. Green figures sit above the CMP of ₹2,699.00; 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 | 1,166 · 1,670 · 2,359 |
| Draws below the CMP | 97% |
| Rank correlation with ebitda margin | +0.69 |
| Rank correlation with revenue growth | +0.56 |
| Rank correlation with discount rate | −0.37 |
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 | 8,804 | 10,241 | 11,561 | 14,596 | 18,464 | 23,357 | 29,546 | 37,376 | 47,281 |
| growth % | 16.6 | 16.3 | 12.9 | 26.3 | 26.5 | 26.5 | 26.5 | 26.5 | 26.5 |
| EBITDA | 1,026 | 1,328 | 1,563 | 1,945 | 2,456 | 3,106 | 3,930 | 4,971 | 6,288 |
| margin % | 11.7 | 13.0 | 13.5 | 13.3 | 13.3 | 13.3 | 13.3 | 13.3 | 13.3 |
| less depreciation | (422) | (474) | (539) | (734) | (923) | (1,168) | (1,477) | (1,869) | (2,364) |
| EBIT | 604 | 854 | 1,025 | 1,210 | 1,532 | 1,939 | 2,452 | 3,102 | 3,924 |
| less tax on EBIT | (309) | (391) | (494) | (625) | (791) | (1,001) | |||
| NOPAT | 902 | 1,142 | 1,444 | 1,827 | 2,311 | 2,924 | |||
| add depreciation | 422 | 474 | 539 | 734 | 923 | 1,168 | 1,477 | 1,869 | 2,364 |
| less capex | (636) | (835) | (1,053) | (1,296) | (1,643) | (1,909) | (2,201) | (2,514) | (2,837) |
| less working-capital build | — | (170) | (215) | (272) | (345) | (436) | |||
| Free cash flow to firm | 226 | 222 | 478 | — | 251 | 487 | 831 | 1,322 | 2,015 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 239 | 417 | 640 | 917 | 1,260 |
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 1,327, dividends at 14.8% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 1,210 | 1,532 | 1,939 | 2,452 | 3,102 | 3,924 |
| Interest at 5.1% on debt | (68) | (68) | (68) | (68) | (68) | |
| Profit before tax | 1,465 | 1,871 | 2,385 | 3,035 | 3,857 | |
| Profit after tax | 952 | 1,091 | 1,394 | 1,777 | 2,261 | 2,873 |
| Dividends | (141) | (162) | (206) | (263) | (335) | (425) |
| Balance sheet, year end | ||||||
| Cash | 875 | 914 | 1,145 | 1,662 | 2,599 | 4,139 |
| Working capital | 644 | 814 | 1,029 | 1,302 | 1,646 | 2,082 |
| Net block and other assets | 10,109 | 10,829 | 11,570 | 12,294 | 12,939 | 13,412 |
| Debt | 1,327 | 1,327 | 1,327 | 1,327 | 1,327 | 1,327 |
| Equity | 6,841 | 7,771 | 8,958 | 10,472 | 12,398 | 14,846 |
| Balance check | 0 | (0) | (0) | (0) | (0) | 0 |
| Cash flow | ||||||
| From operations | 1,844 | 2,346 | 2,982 | 3,785 | 4,801 | |
| Investing (capex) | (1,643) | (1,909) | (2,201) | (2,514) | (2,837) | |
| Financing (dividends) | (162) | (206) | (263) | (335) | (425) | |
| Net change in cash | 40 | 231 | 517 | 937 | 1,539 | |
| Free cash flow to equity | 201 | 437 | 780 | 1,271 | 1,965 | |
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 | 26.5% | 13.3% | 11.00% | 5% | ₹1,702 | (36.9)% |
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.