Models
GODAWARI POW & ISP LTDGPILIndustrial Products
₹131per 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₹131implied FY26 P/E 10.0× · EV/EBITDA 7.0×
Against CMP ₹244.00−46.1%close of 2026-09-10
Growth the CMP implies16.7%revenue, a year for 5 years, on your other inputs
Value after FY3188%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
₹97₹200
52-week rangetraded range, a fact not a value
₹221₹320
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 1,066 |
| PV of terminal value | 7,605 |
| Enterprise value | 8,670 |
| less net debt | (121) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 8,549 |
| ÷ 65.06 crore shares | ₹131 |
88% 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% | 136 | 148 | 162 | 179 | 200 |
| 10.50% | 124 | 134 | 145 | 159 | 176 |
| 11.00% | 114 | 122 | 131 | 143 | 156 |
| 11.50% | 105 | 112 | 120 | 129 | 140 |
| 12.00% | 97 | 103 | 110 | 118 | 127 |
The outlined cell is your model. Green figures sit above the CMP of ₹244.00; 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 | 107 · 132 · 162 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.71 |
| Rank correlation with discount rate | −0.68 |
| 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 | FY23 | FY24 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 5,753 | 5,455 | 5,376 | 5,381 | 5,381 | 5,381 | 5,381 | 5,381 | 5,381 |
| growth % | 6.6 | (5.2) | (1.5) | 0.1 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| EBITDA | 1,118 | 1,346 | 1,194 | 1,235 | 1,232 | 1,232 | 1,232 | 1,232 | 1,232 |
| margin % | 19.4 | 24.7 | 22.2 | 22.9 | 22.9 | 22.9 | 22.9 | 22.9 | 22.9 |
| less depreciation | (124) | (141) | (155) | (178) | (178) | (178) | (178) | (178) | (178) |
| EBIT | 994 | 1,204 | 1,039 | 1,056 | 1,055 | 1,055 | 1,055 | 1,055 | 1,055 |
| less tax on EBIT | (287) | (287) | (287) | (287) | (287) | (287) | |||
| NOPAT | 769 | 768 | 768 | 768 | 768 | 768 | |||
| add depreciation | 124 | 141 | 155 | 178 | 178 | 178 | 178 | 178 | 178 |
| less capex | (456) | (423) | (535) | (1,042) | (1,044) | (836) | (628) | (421) | (213) |
| less working-capital build | — | 0 | 0 | 0 | 0 | 0 | |||
| Free cash flow to firm | 507 | 622 | 360 | — | (99) | 109 | 317 | 525 | 732 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | (94) | 93 | 244 | 364 | 458 |
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 427, dividends at 7.9% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 1,056 | 1,055 | 1,055 | 1,055 | 1,055 | 1,055 |
| Interest at 15.9% on debt | (68) | (68) | (68) | (68) | (68) | |
| Profit before tax | 987 | 987 | 987 | 987 | 987 | |
| Profit after tax | 801 | 718 | 718 | 718 | 718 | 718 |
| Dividends | (64) | (57) | (57) | (57) | (57) | (57) |
| Balance sheet, year end | ||||||
| Cash | 306 | 101 | 105 | 315 | 734 | 1,360 |
| Working capital | 615 | 615 | 615 | 615 | 615 | 615 |
| Net block and other assets | 6,375 | 7,242 | 7,900 | 8,351 | 8,594 | 8,630 |
| Debt | 427 | 427 | 427 | 427 | 427 | 427 |
| Equity | 5,849 | 6,511 | 7,172 | 7,834 | 8,495 | 9,157 |
| Balance check | 0 | 0 | 0 | 0 | (0) | 0 |
| Cash flow | ||||||
| From operations | 896 | 896 | 896 | 896 | 896 | |
| Investing (capex) | (1,044) | (836) | (628) | (421) | (213) | |
| Financing (dividends) | (57) | (57) | (57) | (57) | (57) | |
| Net change in cash | (205) | 3 | 211 | 418 | 626 | |
| Free cash flow to equity | (148) | 60 | 267 | 475 | 683 | |
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 | 0% | 22.9% | 11.00% | 5% | ₹131 | (46.1)% |
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.