Models
GOLD ROCK INVESTMENTS LTD.BSE 501111Commercial Services & Supplies
₹12,831per 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₹12,831implied FY25 P/E 47.4× · EV/EBITDA 42.3×
Against CMP ₹12.14+105592.1%close of 2025-12-15
Growth the CMP implies(20.0)%revenue, a year for 5 years, on your other inputs
Value after FY3082%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
₹9,743₹19,002
From enterprise to equity · ₹ crore
| PV of FY26–FY30 free cash flow | 186 |
| PV of terminal value | 822 |
| Enterprise value | 1,008 |
| less net debt | 1 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 1,009 |
| ÷ 0.08 crore shares | ₹12,831 |
82% of the value sits after FY30. 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% | 13,272 | 14,314 | 15,564 | 17,092 | 19,002 |
| 10.50% | 12,183 | 13,049 | 14,072 | 15,300 | 16,800 |
| 11.00% | 11,252 | 11,981 | 12,831 | 13,836 | 15,041 |
| 11.50% | 10,447 | 11,067 | 11,783 | 12,618 | 13,605 |
| 12.00% | 9,743 | 10,277 | 10,886 | 11,589 | 12,409 |
The outlined cell is your model. Green figures sit above the CMP of ₹12.14; 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 | 9,275 · 12,783 · 17,314 |
| Draws below the CMP | 0% |
| Rank correlation with revenue growth | +0.85 |
| Rank correlation with discount rate | −0.40 |
| Rank correlation with ebitda margin | +0.29 |
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 | FY22 | FY23 | FY24 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 3 | 4 | 5 | 25 | 33 | 43 | 56 | 72 | 94 |
| growth % | (39.4) | 16.4 | 21.0 | 442.6 | 30.0 | 30.0 | 30.0 | 30.0 | 30.0 |
| EBITDA | 2 | 3 | 4 | 24 | 31 | 40 | 52 | 68 | 88 |
| margin % | 70.8 | 77.1 | 77.9 | 94.1 | 94.1 | 94.1 | 94.1 | 94.1 | 94.1 |
| less depreciation | (0) | (0) | (0) | (0) | (0) | (0) | (0) | (1) | (1) |
| EBIT | 2 | 3 | 3 | 24 | 31 | 40 | 52 | 67 | 88 |
| less tax on EBIT | (2) | (3) | (4) | (5) | (6) | (8) | |||
| NOPAT | 21 | 28 | 36 | 47 | 61 | 79 | |||
| add depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 |
| less capex | (0) | 0 | (0) | 0 | 0 | (0) | (0) | (1) | (1) |
| less working-capital build | — | 0 | 0 | 0 | 0 | 0 | |||
| Free cash flow to firm | 14 | (3) | 28 | — | 28 | 36 | 47 | 61 | 79 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 27 | 31 | 36 | 42 | 49 |
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 0, dividends at 0% of profit
| ₹ crore | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 24 | 31 | 40 | 52 | 67 | 88 |
| Interest at 8% on debt | 0 | 0 | 0 | 0 | 0 | |
| Profit before tax | 31 | 40 | 52 | 67 | 88 | |
| Profit after tax | 0 | 28 | 36 | 47 | 61 | 79 |
| Dividends | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 1 | 29 | 65 | 112 | 173 | 253 |
| Working capital | 0 | 0 | 0 | 0 | 0 | 0 |
| Net block and other assets | 154 | 154 | 154 | 153 | 153 | 154 |
| Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity | 150 | 178 | 214 | 261 | 322 | 401 |
| Balance check | 0 | 0 | (0) | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 28 | 36 | 47 | 62 | 80 | |
| Investing (capex) | 0 | (0) | (0) | (1) | (1) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | 28 | 36 | 47 | 61 | 79 | |
| Free cash flow to equity | 28 | 36 | 47 | 61 | 79 | |
Other liabilities are held at their FY25 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% | 94.1% | 11.00% | 5% | ₹12,831 | 105592.1% |
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.