Models
GPT HEALTHCARE LIMITEDGPTHEALTHHealthcare Services
₹126per 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₹126implied FY26 P/E 21.9× · EV/EBITDA 12.5×
Against CMP ₹158.01−20.0%close of 2026-09-10
Growth the CMP implies21.6%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
₹96₹187
52-week rangetraded range, a fact not a value
₹115₹175
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 206 |
| PV of terminal value | 843 |
| Enterprise value | 1,049 |
| less net debt | (12) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 1,037 |
| ÷ 8.21 crore shares | ₹126 |
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% | 131 | 141 | 153 | 168 | 187 |
| 10.50% | 120 | 129 | 139 | 151 | 165 |
| 11.00% | 111 | 118 | 126 | 136 | 148 |
| 11.50% | 103 | 109 | 116 | 124 | 134 |
| 12.00% | 96 | 101 | 107 | 114 | 122 |
The outlined cell is your model. Green figures sit above the CMP of ₹158.01; 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 | 96 · 125 · 163 |
| Draws below the CMP | 87% |
| Rank correlation with ebitda margin | +0.62 |
| Rank correlation with revenue growth | +0.57 |
| Rank correlation with discount rate | −0.47 |
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 | FY24 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 400 | 407 | 473 | 548 | 636 | 738 | 856 | 993 |
| growth % | — | 1.7 | 16.1 | 16.0 | 16.0 | 16.0 | 16.0 | 16.0 |
| EBITDA | 88 | 83 | 84 | 98 | 113 | 131 | 152 | 177 |
| margin % | 21.9 | 20.5 | 17.8 | 17.8 | 17.8 | 17.8 | 17.8 | 17.8 |
| less depreciation | (18) | (19) | (27) | (31) | (36) | (42) | (49) | (57) |
| EBIT | 70 | 64 | 57 | 66 | 77 | 89 | 104 | 120 |
| less tax on EBIT | (13) | (15) | (18) | (21) | (24) | (28) | ||
| NOPAT | 44 | 51 | 59 | 69 | 80 | 92 | ||
| add depreciation | 18 | 19 | 27 | 31 | 36 | 42 | 49 | 57 |
| less capex | (19) | (50) | (42) | (48) | (53) | (58) | (63) | (68) |
| less working-capital build | — | 0 | 0 | 0 | 0 | 0 | ||
| Free cash flow to firm | 49 | 17 | — | 34 | 43 | 53 | 66 | 81 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | |||
| Present value | 32 | 36 | 41 | 46 | 51 |
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 16, dividends at 48.6% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 57 | 66 | 77 | 89 | 104 | 120 |
| Interest at 8% on debt | (1) | (1) | (1) | (1) | (1) | |
| Profit before tax | 65 | 76 | 88 | 102 | 119 | |
| Profit after tax | 42 | 50 | 58 | 68 | 79 | 91 |
| Dividends | (21) | (24) | (28) | (33) | (38) | (44) |
| Balance sheet, year end | ||||||
| Cash | 4 | 13 | 26 | 45 | 72 | 108 |
| Working capital | (11) | (11) | (11) | (11) | (11) | (11) |
| Net block and other assets | 472 | 489 | 505 | 521 | 535 | 546 |
| Debt | 16 | 16 | 16 | 16 | 16 | 16 |
| Equity | 269 | 295 | 325 | 360 | 400 | 447 |
| Balance check | 0 | 0 | (0) | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 81 | 94 | 110 | 127 | 148 | |
| Investing (capex) | (48) | (53) | (58) | (63) | (68) | |
| Financing (dividends) | (24) | (28) | (33) | (38) | (44) | |
| Net change in cash | 9 | 13 | 19 | 27 | 36 | |
| Free cash flow to equity | 33 | 42 | 52 | 65 | 80 | |
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 | 16% | 17.8% | 11.00% | 5% | ₹126 | (20.0)% |
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.