Models
FILATEX INDIA LTDFILATEXTextiles & Apparels
₹46per 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₹46implied FY26 P/E 10.8× · EV/EBITDA 6.3×
Against CMP ₹88.00−47.2%close of 2026-09-10
Growth the CMP implies11.7%revenue, a year for 5 years, on your other inputs
Value after FY3178%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
₹35₹69
52-week rangetraded range, a fact not a value
₹36₹87
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 473 |
| PV of terminal value | 1,716 |
| Enterprise value | 2,190 |
| less net debt | (125) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 2,065 |
| ÷ 44.41 crore shares | ₹46 |
78% 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% | 48 | 52 | 57 | 62 | 69 |
| 10.50% | 44 | 47 | 51 | 56 | 61 |
| 11.00% | 41 | 43 | 46 | 50 | 55 |
| 11.50% | 38 | 40 | 43 | 46 | 49 |
| 12.00% | 35 | 37 | 39 | 42 | 45 |
The outlined cell is your model. Green figures sit above the CMP of ₹88.00; 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 | 37 · 47 · 57 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.76 |
| Rank correlation with discount rate | −0.63 |
| Rank correlation with revenue growth | −0.03 |
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 | FY19 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,874 | 4,252 | 4,161 | 4,077 | 3,996 | 3,916 | 3,838 | 3,761 |
| growth % | — | 47.9 | (2.2) | (2.0) | (2.0) | (2.0) | (2.0) | (2.0) |
| EBITDA | 219 | 258 | 346 | 338 | 332 | 325 | 319 | 312 |
| margin % | 7.6 | 6.1 | 8.3 | 8.3 | 8.3 | 8.3 | 8.3 | 8.3 |
| less depreciation | (45) | (73) | (77) | (77) | (76) | (74) | (73) | (71) |
| EBIT | 174 | 184 | 269 | 261 | 256 | 251 | 246 | 241 |
| less tax on EBIT | (68) | (66) | (65) | (64) | (62) | (61) | ||
| NOPAT | 201 | 195 | 191 | 187 | 183 | 180 | ||
| add depreciation | 45 | 73 | 77 | 77 | 76 | 74 | 73 | 71 |
| less capex | — | (53) | (193) | (188) | (161) | (135) | (110) | (86) |
| less working-capital build | — | 0 | 0 | 0 | 0 | 0 | ||
| Free cash flow to firm | — | 260 | — | 85 | 106 | 127 | 146 | 165 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | |||
| Present value | 80 | 91 | 98 | 102 | 103 |
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 128, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 269 | 261 | 256 | 251 | 246 | 241 |
| Interest at 8% on debt | (10) | (10) | (10) | (10) | (10) | |
| Profit before tax | 251 | 245 | 240 | 235 | 230 | |
| Profit after tax | 0 | 187 | 183 | 179 | 176 | 172 |
| Dividends | (11) | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 3 | 80 | 178 | 297 | 436 | 594 |
| Working capital | (14) | (14) | (14) | (14) | (14) | (14) |
| Net block and other assets | 2,481 | 2,591 | 2,676 | 2,736 | 2,773 | 2,788 |
| Debt | 128 | 128 | 128 | 128 | 128 | 128 |
| Equity | 1,505 | 1,692 | 1,875 | 2,054 | 2,230 | 2,402 |
| Balance check | 0 | (0) | (0) | (0) | (0) | (0) |
| Cash flow | ||||||
| From operations | 265 | 259 | 254 | 248 | 243 | |
| Investing (capex) | (188) | (161) | (135) | (110) | (86) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | 77 | 98 | 119 | 139 | 158 | |
| Free cash flow to equity | 77 | 98 | 119 | 139 | 158 | |
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 | -2% | 8.3% | 11.00% | 5% | ₹46 | (47.2)% |
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.