Models
EXPLEO SOLUTIONS LIMITEDEXPLEOSOLIT - Services
₹1,287per 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₹1,287implied FY26 P/E 14.5× · EV/EBITDA 10.6×
Against CMP ₹891.00+44.4%close of 2026-09-10
Growth the CMP implies(10.8)%revenue, a year for 5 years, on your other inputs
Value after FY3172%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
₹1,059₹1,740
52-week rangetraded range, a fact not a value
₹640₹1,175
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 456 |
| PV of terminal value | 1,187 |
| Enterprise value | 1,643 |
| less net debt | 354 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 1,997 |
| ÷ 1.55 crore shares | ₹1,287 |
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% | 1,321 | 1,397 | 1,488 | 1,600 | 1,740 |
| 10.50% | 1,240 | 1,304 | 1,378 | 1,468 | 1,578 |
| 11.00% | 1,171 | 1,225 | 1,287 | 1,360 | 1,449 |
| 11.50% | 1,111 | 1,157 | 1,209 | 1,270 | 1,343 |
| 12.00% | 1,059 | 1,098 | 1,143 | 1,194 | 1,254 |
The outlined cell is your model. Green figures sit above the CMP of ₹891.00; 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 | 1,095 · 1,277 · 1,500 |
| Draws below the CMP | 0% |
| Rank correlation with ebitda margin | +0.74 |
| Rank correlation with discount rate | −0.59 |
| Rank correlation with revenue growth | +0.21 |
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 | 903 | 965 | 1,025 | 1,108 | 1,197 | 1,292 | 1,396 | 1,507 | 1,628 |
| growth % | 123.3 | 6.8 | 6.2 | 8.1 | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 |
| EBITDA | 200 | 148 | 166 | 155 | 168 | 181 | 195 | 211 | 228 |
| margin % | 22.2 | 15.4 | 16.2 | 14.0 | 14.0 | 14.0 | 14.0 | 14.0 | 14.0 |
| less depreciation | (28) | (34) | (39) | (28) | (31) | (34) | (36) | (39) | (42) |
| EBIT | 172 | 115 | 126 | 127 | 136 | 147 | 159 | 172 | 186 |
| less tax on EBIT | (30) | (32) | (35) | (38) | (41) | (44) | |||
| NOPAT | 97 | 104 | 112 | 121 | 131 | 142 | |||
| add depreciation | 28 | 34 | 39 | 28 | 31 | 34 | 36 | 39 | 42 |
| less capex | (44) | (17) | (8) | (3) | (4) | (13) | (24) | (36) | (51) |
| less working-capital build | — | (14) | (15) | (16) | (17) | (19) | |||
| Free cash flow to firm | (21) | 54 | 172 | — | 118 | 118 | 118 | 116 | 114 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 112 | 101 | 91 | 81 | 71 |
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 0, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 127 | 136 | 147 | 159 | 172 | 186 |
| Interest at 8% on debt | 0 | 0 | 0 | 0 | 0 | |
| Profit before tax | 136 | 147 | 159 | 172 | 186 | |
| Profit after tax | 140 | 104 | 112 | 121 | 131 | 142 |
| Dividends | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 354 | 472 | 590 | 708 | 824 | 939 |
| Working capital | 172 | 186 | 201 | 217 | 235 | 254 |
| Net block and other assets | 402 | 375 | 354 | 342 | 339 | 347 |
| Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity | 776 | 880 | 993 | 1,114 | 1,245 | 1,387 |
| Balance check | 0 | 0 | (0) | (0) | (0) | 0 |
| Cash flow | ||||||
| From operations | 121 | 131 | 142 | 153 | 165 | |
| Investing (capex) | (4) | (13) | (24) | (36) | (51) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | 118 | 118 | 118 | 116 | 114 | |
| Free cash flow to equity | 118 | 118 | 118 | 116 | 114 | |
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 | 8% | 14% | 11.00% | 5% | ₹1,287 | 44.4% |
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.