Models
INDO TECH TRANSFORM LTD.INDOTECH
₹1,160per 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₹1,160implied FY26 P/E 12.4× · EV/EBITDA 9.8×
Against CMP ₹3,250.00−64.3%close of 2026-09-20
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3188%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
₹873₹1,736
52-week rangetraded range, a fact not a value
₹1,100₹4,030
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 138 |
| PV of terminal value | 1,037 |
| Enterprise value | 1,175 |
| less net debt | 57 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 1,232 |
| ÷ 1.06 crore shares | ₹1,160 |
88% 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% | 1,200 | 1,297 | 1,414 | 1,557 | 1,736 |
| 10.50% | 1,099 | 1,180 | 1,276 | 1,390 | 1,531 |
| 11.00% | 1,013 | 1,081 | 1,160 | 1,254 | 1,367 |
| 11.50% | 938 | 996 | 1,063 | 1,141 | 1,233 |
| 12.00% | 873 | 923 | 980 | 1,046 | 1,122 |
The outlined cell is your model. Green figures sit above the CMP of ₹3,250.00; 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 | 665 · 1,138 · 1,561 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.85 |
| Rank correlation with revenue growth | −0.37 |
| Rank correlation with discount rate | −0.32 |
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 | 371 | 504 | 612 | 782 | 1,001 | 1,281 | 1,640 | 2,099 | 2,687 |
| growth % | 32.4 | 35.8 | 21.5 | 27.8 | 28.0 | 28.0 | 28.0 | 28.0 | 28.0 |
| EBITDA | 31 | 60 | 76 | 120 | 154 | 197 | 253 | 323 | 414 |
| margin % | 8.2 | 11.8 | 12.4 | 15.4 | 15.4 | 15.4 | 15.4 | 15.4 | 15.4 |
| less depreciation | (5) | (5) | (4) | (5) | (6) | (8) | (10) | (13) | (16) |
| EBIT | 26 | 55 | 72 | 115 | 148 | 190 | 243 | 311 | 398 |
| less tax on EBIT | (29) | (37) | (47) | (61) | (78) | (99) | |||
| NOPAT | 87 | 111 | 142 | 182 | 233 | 298 | |||
| add depreciation | 5 | 5 | 4 | 5 | 6 | 8 | 10 | 13 | 16 |
| less capex | (8) | (8) | (16) | (34) | (44) | (45) | (42) | (34) | (19) |
| less working-capital build | — | (73) | (93) | (119) | (152) | (195) | |||
| Free cash flow to firm | (12) | 24 | 40 | — | 0 | 12 | 31 | 59 | 100 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 0 | 10 | 24 | 41 | 62 |
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 5, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 115 | 148 | 190 | 243 | 311 | 398 |
| Interest at 8% on debt | (0) | (0) | (0) | (0) | (0) | |
| Profit before tax | 148 | 189 | 242 | 310 | 397 | |
| Profit after tax | 93 | 111 | 142 | 182 | 233 | 298 |
| Dividends | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 63 | 63 | 75 | 105 | 164 | 263 |
| Working capital | 259 | 332 | 425 | 544 | 697 | 892 |
| Net block and other assets | 233 | 271 | 308 | 340 | 362 | 365 |
| Debt | 5 | 5 | 5 | 5 | 5 | 5 |
| Equity | 374 | 485 | 626 | 808 | 1,041 | 1,339 |
| Balance check | 0 | 0 | (0) | (0) | (0) | (0) |
| Cash flow | ||||||
| From operations | 44 | 57 | 72 | 93 | 119 | |
| Investing (capex) | (44) | (45) | (42) | (34) | (19) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | 0 | 12 | 30 | 58 | 100 | |
| Free cash flow to equity | 0 | 12 | 30 | 58 | 100 | |
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 | 28% | 15.4% | 11.00% | 5% | ₹1,160 | (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.