Models
GALAXY SURFACTANTS LTDGALAXYSURFChemicals & Petrochemicals
₹812per 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₹812implied FY26 P/E 8.1× · EV/EBITDA 6.3×
Against CMP ₹2,189.00−62.9%close of 2026-09-10
Growth the CMP implies45.0%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
₹617₹1,201
52-week rangetraded range, a fact not a value
₹1,510₹2,648
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 595 |
| PV of terminal value | 2,337 |
| Enterprise value | 2,932 |
| less net debt | (55) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 2,877 |
| ÷ 3.55 crore shares | ₹812 |
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% | 840 | 905 | 984 | 1,081 | 1,201 |
| 10.50% | 771 | 825 | 890 | 967 | 1,062 |
| 11.00% | 712 | 758 | 812 | 875 | 951 |
| 11.50% | 661 | 700 | 745 | 798 | 860 |
| 12.00% | 617 | 650 | 689 | 733 | 785 |
The outlined cell is your model. Green figures sit above the CMP of ₹2,189.00; 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 | 289 · 802 · 1,233 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.87 |
| Rank correlation with revenue growth | −0.41 |
| Rank correlation with discount rate | −0.20 |
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 | 4,445 | 3,794 | 4,224 | 5,248 | 6,534 | 8,135 | 10,128 | 12,609 | 15,699 |
| growth % | 20.6 | (14.6) | 11.3 | 24.3 | 24.5 | 24.5 | 24.5 | 24.5 | 24.5 |
| EBITDA | 568 | 462 | 484 | 463 | 575 | 716 | 891 | 1,110 | 1,381 |
| margin % | 12.8 | 12.2 | 11.5 | 8.8 | 8.8 | 8.8 | 8.8 | 8.8 | 8.8 |
| less depreciation | (83) | (100) | (110) | (123) | (150) | (187) | (233) | (290) | (361) |
| EBIT | 485 | 362 | 374 | 340 | 425 | 529 | 658 | 820 | 1,020 |
| less tax on EBIT | (66) | (82) | (103) | (128) | (159) | (198) | |||
| NOPAT | 274 | 342 | 426 | 531 | 661 | 822 | |||
| add depreciation | 83 | 100 | 110 | 123 | 150 | 187 | 233 | 290 | 361 |
| less capex | (146) | (158) | (219) | (137) | (170) | (215) | (271) | (343) | (433) |
| less working-capital build | — | (219) | (272) | (339) | (422) | (525) | |||
| Free cash flow to firm | 427 | 360 | 202 | — | 104 | 126 | 153 | 186 | 225 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 99 | 108 | 118 | 129 | 141 |
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 164, dividends at 7.9% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 340 | 425 | 529 | 658 | 820 | 1,020 |
| Interest at 8% on debt | (13) | (13) | (13) | (13) | (13) | |
| Profit before tax | 412 | 516 | 645 | 806 | 1,007 | |
| Profit after tax | 267 | 332 | 416 | 520 | 650 | 812 |
| Dividends | (21) | (26) | (33) | (41) | (51) | (64) |
| Balance sheet, year end | ||||||
| Cash | 109 | 176 | 259 | 361 | 485 | 635 |
| Working capital | 893 | 1,112 | 1,384 | 1,722 | 2,144 | 2,669 |
| Net block and other assets | 2,872 | 2,892 | 2,919 | 2,958 | 3,011 | 3,083 |
| Debt | 164 | 164 | 164 | 164 | 164 | 164 |
| Equity | 2,745 | 3,050 | 3,433 | 3,912 | 4,511 | 5,258 |
| Balance check | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 263 | 331 | 414 | 518 | 648 | |
| Investing (capex) | (170) | (215) | (271) | (343) | (433) | |
| Financing (dividends) | (26) | (33) | (41) | (51) | (64) | |
| Net change in cash | 67 | 83 | 102 | 124 | 150 | |
| Free cash flow to equity | 94 | 116 | 143 | 175 | 214 | |
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 | 24.5% | 8.8% | 11.00% | 5% | ₹812 | (62.9)% |
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.