Models
FINEOTEX CHEMICAL LIMITEDFCLChemicals & Petrochemicals
₹12per 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₹12implied FY26 P/E 3.8× · EV/EBITDA 10.6×
Against CMP ₹57.70−78.4%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3184%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
₹9₹19
52-week rangetraded range, a fact not a value
₹19₹62
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 235 |
| PV of terminal value | 1,189 |
| Enterprise value | 1,424 |
| less net debt | 29 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 1,453 |
| ÷ 116.45 crore shares | ₹12 |
84% 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% | 13 | 14 | 15 | 17 | 19 |
| 10.50% | 12 | 13 | 14 | 15 | 16 |
| 11.00% | 11 | 12 | 12 | 13 | 15 |
| 11.50% | 10 | 11 | 11 | 12 | 13 |
| 12.00% | 9 | 10 | 11 | 11 | 12 |
The outlined cell is your model. Green figures sit above the CMP of ₹57.70; 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 | 7 · 12 · 17 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.87 |
| Rank correlation with revenue growth | −0.35 |
| Rank correlation with discount rate | −0.28 |
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 | 517 | 569 | 533 | 772 | 1,004 | 1,305 | 1,697 | 2,206 | 2,867 |
| growth % | 40.4 | 10.1 | (6.3) | 44.8 | 30.0 | 30.0 | 30.0 | 30.0 | 30.0 |
| EBITDA | 113 | 148 | 127 | 135 | 175 | 227 | 295 | 384 | 499 |
| margin % | 21.8 | 26.1 | 23.9 | 17.4 | 17.4 | 17.4 | 17.4 | 17.4 | 17.4 |
| less depreciation | (4) | (6) | (9) | (13) | (17) | (22) | (29) | (37) | (49) |
| EBIT | 108 | 142 | 118 | 121 | 158 | 205 | 266 | 346 | 450 |
| less tax on EBIT | (22) | (29) | (37) | (49) | (63) | (82) | |||
| NOPAT | 99 | 129 | 167 | 218 | 283 | 368 | |||
| add depreciation | 4 | 6 | 9 | 13 | 17 | 22 | 29 | 37 | 49 |
| less capex | (19) | (48) | (68) | (25) | (32) | (38) | (44) | (51) | (58) |
| less working-capital build | — | (85) | (111) | (144) | (187) | (243) | |||
| Free cash flow to firm | 89 | 50 | 1 | — | 28 | 41 | 58 | 82 | 115 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 27 | 35 | 45 | 57 | 72 |
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 8, dividends at 12.9% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 121 | 158 | 205 | 266 | 346 | 450 |
| Interest at 8% on debt | (1) | (1) | (1) | (1) | (1) | |
| Profit before tax | 157 | 204 | 266 | 346 | 449 | |
| Profit after tax | 109 | 128 | 167 | 217 | 282 | 367 |
| Dividends | (14) | (17) | (22) | (28) | (36) | (47) |
| Balance sheet, year end | ||||||
| Cash | 37 | 49 | 67 | 97 | 141 | 208 |
| Working capital | 284 | 369 | 480 | 624 | 811 | 1,055 |
| Net block and other assets | 838 | 853 | 869 | 884 | 898 | 908 |
| Debt | 8 | 8 | 8 | 8 | 8 | 8 |
| Equity | 940 | 1,051 | 1,197 | 1,386 | 1,632 | 1,952 |
| Balance check | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 60 | 78 | 102 | 133 | 172 | |
| Investing (capex) | (32) | (38) | (44) | (51) | (58) | |
| Financing (dividends) | (17) | (22) | (28) | (36) | (47) | |
| Net change in cash | 11 | 19 | 29 | 45 | 67 | |
| Free cash flow to equity | 28 | 40 | 57 | 81 | 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 | 30% | 17.4% | 11.00% | 5% | ₹12 | (78.4)% |
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.