Models
GODREJ AGROVET LIMITEDGODREJAGROFood Products
₹318per 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₹318implied FY26 P/E 13.7× · EV/EBITDA 8.8×
Against CMP ₹675.00−52.8%close of 2026-09-10
Growth the CMP implies30.8%revenue, a year for 5 years, on your other inputs
Value after FY3177%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
₹232₹491
52-week rangetraded range, a fact not a value
₹506₹752
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 1,685 |
| PV of terminal value | 5,611 |
| Enterprise value | 7,296 |
| less net debt | (1,170) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 6,126 |
| ÷ 19.24 crore shares | ₹318 |
77% 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% | 331 | 360 | 395 | 438 | 491 |
| 10.50% | 301 | 325 | 353 | 387 | 429 |
| 11.00% | 274 | 295 | 318 | 346 | 380 |
| 11.50% | 252 | 269 | 289 | 312 | 340 |
| 12.00% | 232 | 247 | 264 | 283 | 306 |
The outlined cell is your model. Green figures sit above the CMP of ₹675.00; 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 | 240 · 315 · 405 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.75 |
| Rank correlation with discount rate | −0.54 |
| Rank correlation with revenue growth | +0.30 |
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 | 9,374 | 9,561 | 9,383 | 10,233 | 11,154 | 12,157 | 13,252 | 14,444 | 15,744 |
| growth % | 12.9 | 2.0 | (1.9) | 9.1 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 |
| EBITDA | 523 | 701 | 816 | 833 | 903 | 985 | 1,073 | 1,170 | 1,275 |
| margin % | 5.6 | 7.3 | 8.7 | 8.1 | 8.1 | 8.1 | 8.1 | 8.1 | 8.1 |
| less depreciation | (185) | (214) | (226) | (229) | (245) | (267) | (292) | (318) | (346) |
| EBIT | 337 | 487 | 590 | 604 | 658 | 717 | 782 | 852 | 929 |
| less tax on EBIT | (176) | (192) | (209) | (228) | (249) | (271) | |||
| NOPAT | 428 | 466 | 508 | 554 | 603 | 658 | |||
| add depreciation | 185 | 214 | 226 | 229 | 245 | 267 | 292 | 318 | 346 |
| less capex | (359) | (384) | (225) | (297) | (323) | (345) | (367) | (391) | (416) |
| less working-capital build | — | (34) | (37) | (40) | (44) | (48) | |||
| Free cash flow to firm | 515 | 294 | 745 | — | 354 | 393 | 438 | 486 | 540 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 336 | 336 | 337 | 337 | 338 |
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 1,468, dividends at 47.5% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 604 | 658 | 717 | 782 | 852 | 929 |
| Interest at 10.1% on debt | (148) | (148) | (148) | (148) | (148) | |
| Profit before tax | 510 | 569 | 634 | 704 | 781 | |
| Profit after tax | 445 | 361 | 403 | 449 | 498 | 553 |
| Dividends | (212) | (171) | (191) | (213) | (237) | (263) |
| Balance sheet, year end | ||||||
| Cash | 299 | 376 | 473 | 593 | 737 | 910 |
| Working capital | 381 | 415 | 452 | 493 | 537 | 585 |
| Net block and other assets | 5,490 | 5,568 | 5,646 | 5,721 | 5,794 | 5,863 |
| Debt | 1,468 | 1,468 | 1,468 | 1,468 | 1,468 | 1,468 |
| Equity | 2,164 | 2,353 | 2,565 | 2,800 | 3,062 | 3,352 |
| Balance check | 0 | 0 | (0) | (0) | 0 | 0 |
| Cash flow | ||||||
| From operations | 572 | 633 | 700 | 772 | 851 | |
| Investing (capex) | (323) | (345) | (367) | (391) | (416) | |
| Financing (dividends) | (171) | (191) | (213) | (237) | (263) | |
| Net change in cash | 77 | 97 | 119 | 145 | 173 | |
| Free cash flow to equity | 249 | 288 | 333 | 381 | 435 | |
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 | 9% | 8.1% | 11.00% | 5% | ₹318 | (52.8)% |
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.