Models
GALLANTT ISPAT LIMITEDGALLANTTIndustrial Products
₹253per 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₹253implied FY26 P/E 14.0× · EV/EBITDA 9.1×
Against CMP ₹550.00−54.0%close of 2026-09-10
Growth the CMP implies28.5%revenue, a year for 5 years, on your other inputs
Value after FY3179%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
₹189₹379
52-week rangetraded range, a fact not a value
₹496₹948
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 1,374 |
| PV of terminal value | 5,171 |
| Enterprise value | 6,545 |
| less net debt | (446) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 6,099 |
| ÷ 24.13 crore shares | ₹253 |
79% 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% | 262 | 283 | 309 | 340 | 379 |
| 10.50% | 240 | 257 | 278 | 303 | 334 |
| 11.00% | 220 | 235 | 253 | 273 | 298 |
| 11.50% | 204 | 217 | 231 | 248 | 269 |
| 12.00% | 189 | 200 | 213 | 227 | 244 |
The outlined cell is your model. Green figures sit above the CMP of ₹550.00; 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 | 204 · 250 · 308 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.72 |
| Rank correlation with discount rate | −0.64 |
| Rank correlation with revenue growth | +0.11 |
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 | FY21 | FY24 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,007 | 4,227 | 4,293 | 4,419 | 4,551 | 4,688 | 4,829 | 4,974 | 5,123 |
| growth % | 16.4 | 319.8 | 1.6 | 2.9 | 3.0 | 3.0 | 3.0 | 3.0 | 3.0 |
| EBITDA | 111 | 448 | 694 | 716 | 737 | 759 | 782 | 806 | 830 |
| margin % | 11.0 | 10.6 | 16.2 | 16.2 | 16.2 | 16.2 | 16.2 | 16.2 | 16.2 |
| less depreciation | (16) | (116) | (120) | (130) | (132) | (136) | (140) | (144) | (149) |
| EBIT | 95 | 333 | 574 | 586 | 605 | 624 | 642 | 661 | 681 |
| less tax on EBIT | (116) | (120) | (123) | (127) | (131) | (135) | |||
| NOPAT | 470 | 485 | 500 | 515 | 531 | 546 | |||
| add depreciation | 16 | 116 | 120 | 130 | 132 | 136 | 140 | 144 | 149 |
| less capex | (46) | (199) | (242) | (348) | (360) | (319) | (275) | (228) | (178) |
| less working-capital build | — | (17) | (17) | (18) | (18) | (19) | |||
| Free cash flow to firm | 46 | 145 | 337 | — | 241 | 300 | 363 | 428 | 498 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 229 | 257 | 279 | 297 | 311 |
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 548, dividends at 1.9% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 586 | 605 | 624 | 642 | 661 | 681 |
| Interest at 9% on debt | (49) | (49) | (49) | (49) | (49) | |
| Profit before tax | 556 | 574 | 593 | 612 | 632 | |
| Profit after tax | 484 | 446 | 461 | 476 | 491 | 507 |
| Dividends | (9) | (8) | (9) | (9) | (9) | (10) |
| Balance sheet, year end | ||||||
| Cash | 102 | 295 | 547 | 861 | 1,240 | 1,689 |
| Working capital | 557 | 574 | 591 | 609 | 627 | 646 |
| Net block and other assets | 3,611 | 3,839 | 4,021 | 4,156 | 4,240 | 4,269 |
| Debt | 548 | 548 | 548 | 548 | 548 | 548 |
| Equity | 3,316 | 3,754 | 4,205 | 4,672 | 5,154 | 5,651 |
| Balance check | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 561 | 579 | 598 | 617 | 637 | |
| Investing (capex) | (360) | (319) | (275) | (228) | (178) | |
| Financing (dividends) | (8) | (9) | (9) | (9) | (10) | |
| Net change in cash | 193 | 252 | 314 | 380 | 449 | |
| Free cash flow to equity | 202 | 261 | 323 | 389 | 458 | |
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 | 3% | 16.2% | 11.00% | 5% | ₹253 | (54.0)% |
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.