Models
FIEM INDUSTRIES LIMITEDFIEMINDAuto Components
₹1,936per 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₹1,936implied FY26 P/E 19.4× · EV/EBITDA 12.2×
Against CMP ₹2,002.60−3.3%close of 2026-09-10
Growth the CMP implies17.5%revenue, a year for 5 years, on your other inputs
Value after FY3180%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
₹1,502₹2,802
52-week rangetraded range, a fact not a value
₹1,869₹2,675
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 954 |
| PV of terminal value | 3,861 |
| Enterprise value | 4,815 |
| less net debt | 279 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 5,094 |
| ÷ 2.63 crore shares | ₹1,936 |
80% 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% | 1,998 | 2,144 | 2,319 | 2,534 | 2,802 |
| 10.50% | 1,845 | 1,966 | 2,110 | 2,282 | 2,493 |
| 11.00% | 1,714 | 1,816 | 1,936 | 2,077 | 2,246 |
| 11.50% | 1,601 | 1,688 | 1,788 | 1,905 | 2,044 |
| 12.00% | 1,502 | 1,577 | 1,662 | 1,761 | 1,876 |
The outlined cell is your model. Green figures sit above the CMP of ₹2,002.60; 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 | 1,540 · 1,917 · 2,384 |
| Draws below the CMP | 60% |
| Rank correlation with ebitda margin | +0.72 |
| Rank correlation with discount rate | −0.53 |
| Rank correlation with revenue growth | +0.38 |
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 | 1,848 | 2,029 | 2,423 | 2,816 | 3,266 | 3,789 | 4,395 | 5,098 | 5,914 |
| growth % | 17.5 | 9.8 | 19.4 | 16.2 | 16.0 | 16.0 | 16.0 | 16.0 | 16.0 |
| EBITDA | 249 | 269 | 326 | 396 | 461 | 534 | 620 | 719 | 834 |
| margin % | 13.5 | 13.2 | 13.5 | 14.1 | 14.1 | 14.1 | 14.1 | 14.1 | 14.1 |
| less depreciation | (63) | (59) | (64) | (72) | (85) | (99) | (114) | (133) | (154) |
| EBIT | 185 | 210 | 262 | 323 | 376 | 436 | 505 | 586 | 680 |
| less tax on EBIT | (81) | (94) | (109) | (127) | (147) | (171) | |||
| NOPAT | 242 | 281 | 326 | 379 | 439 | 509 | |||
| add depreciation | 63 | 59 | 64 | 72 | 85 | 99 | 114 | 133 | 154 |
| less capex | (55) | (84) | (130) | (126) | (147) | (157) | (167) | (177) | (185) |
| less working-capital build | — | (59) | (68) | (79) | (92) | (107) | |||
| Free cash flow to firm | 76 | 51 | 103 | — | 160 | 199 | 246 | 303 | 372 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 152 | 170 | 189 | 210 | 232 |
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 30.9% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 323 | 376 | 436 | 505 | 586 | 680 |
| Interest at 8% on debt | 0 | 0 | 0 | 0 | 0 | |
| Profit before tax | 376 | 436 | 505 | 586 | 680 | |
| Profit after tax | 256 | 281 | 326 | 379 | 439 | 509 |
| Dividends | (79) | (87) | (101) | (117) | (136) | (157) |
| Balance sheet, year end | ||||||
| Cash | 279 | 353 | 451 | 580 | 747 | 961 |
| Working capital | 368 | 427 | 495 | 575 | 667 | 774 |
| Net block and other assets | 1,053 | 1,115 | 1,174 | 1,227 | 1,271 | 1,302 |
| Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity | 1,215 | 1,409 | 1,635 | 1,896 | 2,200 | 2,552 |
| Balance check | 0 | 0 | (0) | (0) | (0) | 0 |
| Cash flow | ||||||
| From operations | 307 | 356 | 413 | 480 | 556 | |
| Investing (capex) | (147) | (157) | (167) | (177) | (185) | |
| Financing (dividends) | (87) | (101) | (117) | (136) | (157) | |
| Net change in cash | 73 | 98 | 129 | 167 | 214 | |
| Free cash flow to equity | 160 | 199 | 246 | 303 | 372 | |
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 | 16% | 14.1% | 11.00% | 5% | ₹1,936 | (3.3)% |
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.