Models
INDIAN RENEWABLE ENERGYIREDAFinance
₹40per 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₹40implied P/B 0.81× on FY26 book
Against CMP ₹111.71−64.3%close of 2026-09-10
Cost of equity15.02%risk-free + beta × equity risk premium
Book equity, FY26₹49per share · excess returns add ₹(9)
This figure is the arithmetic of your inputs and nothing else. MarketPing publishes no fair value, target or rating; the model is yours.
Excess-return schedule · ₹ crore · book equity earns your ROE; value is book plus the returns above the cost of equity
| ₹ crore | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|
| Opening book equity | 13,785 | 15,660 | 17,789 | 20,209 | 22,957 |
| Net income at 13.6% ROE | 1,875 | 2,130 | 2,419 | 2,748 | 3,122 |
| Cost of equity charge at 15.02% | (2,071) | (2,352) | (2,672) | (3,036) | (3,449) |
| Excess return | (196) | (223) | (253) | (287) | (326) |
| Present value | (183) | (180) | (178) | (176) | (174) |
| Closing book equity | 15,660 | 17,789 | 20,209 | 22,957 | 26,079 |
| Book equity today | 13,785 |
| PV of 5 years of excess return | (891) |
| PV of the terminal excess return, 5% flat | (1,698) |
| add non-operating investments | 0 |
| Equity value | 11,195 |
| ÷ 280.92 crore shares | ₹40 |
ROE is at or below the cost of equity, so every year destroys value against book and the model lands below book value. That is the arithmetic, not a view.
Where the methods land · ₹ per share · the dashed line is the CMP
52-week rangetraded range, a fact not a value
₹109₹163
Scenarios side by side · ₹ per share
| Scenario | Template | Growth | Margin | Rate | Terminal | ₹ / share | vs CMP |
|---|---|---|---|---|---|---|---|
| Base · editing | Excess return | ROE 13.6% | — | 15.02% | 5% | ₹40 | (64.3)% |
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.