Models
IFB INDUSTRIES LTDIFBINDConsumer Durables
₹605per 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₹605implied FY26 P/E 15.3× · EV/EBITDA 7.9×
Against CMP ₹1,300.50−53.5%close of 2026-09-10
Growth the CMP implies35.4%revenue, a year for 5 years, on your other inputs
Value after FY3173%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
₹479₹856
52-week rangetraded range, a fact not a value
₹883₹2,020
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 640 |
| PV of terminal value | 1,750 |
| Enterprise value | 2,391 |
| less net debt | 105 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 2,496 |
| ÷ 4.13 crore shares | ₹605 |
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% | 623 | 666 | 716 | 778 | 856 |
| 10.50% | 579 | 614 | 655 | 705 | 766 |
| 11.00% | 541 | 570 | 605 | 645 | 694 |
| 11.50% | 507 | 533 | 562 | 596 | 636 |
| 12.00% | 479 | 500 | 525 | 553 | 587 |
The outlined cell is your model. Green figures sit above the CMP of ₹1,300.50; 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 | 464 · 600 · 760 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.81 |
| Rank correlation with discount rate | −0.43 |
| Rank correlation with revenue growth | +0.31 |
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 | 4,195 | 4,438 | 5,092 | 5,619 | 6,210 | 6,862 | 7,582 | 8,378 | 9,258 |
| growth % | 22.8 | 5.8 | 14.7 | 10.4 | 10.5 | 10.5 | 10.5 | 10.5 | 10.5 |
| EBITDA | 163 | 217 | 302 | 304 | 335 | 371 | 409 | 452 | 500 |
| margin % | 3.9 | 4.9 | 5.9 | 5.4 | 5.4 | 5.4 | 5.4 | 5.4 | 5.4 |
| less depreciation | (122) | (124) | (132) | (122) | (137) | (151) | (167) | (184) | (204) |
| EBIT | 41 | 93 | 171 | 182 | 199 | 220 | 243 | 268 | 296 |
| less tax on EBIT | (46) | (50) | (55) | (61) | (68) | (75) | |||
| NOPAT | 136 | 149 | 164 | 181 | 201 | 222 | |||
| add depreciation | 122 | 124 | 132 | 122 | 137 | 151 | 167 | 184 | 204 |
| less capex | (67) | (65) | (106) | (109) | (118) | (143) | (172) | (206) | (244) |
| less working-capital build | — | (8) | (9) | (10) | (11) | (12) | |||
| Free cash flow to firm | 39 | 285 | 12 | — | 159 | 163 | 166 | 168 | 169 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 151 | 139 | 128 | 117 | 105 |
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 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 182 | 199 | 220 | 243 | 268 | 296 |
| Interest at 8% on debt | (1) | (1) | (1) | (1) | (1) | |
| Profit before tax | 197 | 218 | 241 | 267 | 295 | |
| Profit after tax | 144 | 148 | 163 | 181 | 200 | 221 |
| Dividends | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 121 | 279 | 441 | 606 | 773 | 940 |
| Working capital | 79 | 87 | 96 | 106 | 117 | 129 |
| Net block and other assets | 2,285 | 2,266 | 2,258 | 2,263 | 2,285 | 2,326 |
| Debt | 16 | 16 | 16 | 16 | 16 | 16 |
| Equity | 995 | 1,143 | 1,306 | 1,486 | 1,686 | 1,907 |
| Balance check | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 276 | 305 | 337 | 373 | 412 | |
| Investing (capex) | (118) | (143) | (172) | (206) | (244) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | 158 | 162 | 165 | 167 | 168 | |
| Free cash flow to equity | 158 | 162 | 165 | 167 | 168 | |
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 | 10.5% | 5.4% | 11.00% | 5% | ₹605 | (53.5)% |
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.