Models
INDOSTAR CAPITAL FIN LTDINDOSTARFinance
₹-25per 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₹(25)implied P/B (0.11)× on FY26 book
Against CMP ₹243.89−110.1%close of 2026-09-10
Cost of equity16.63%risk-free + beta × equity risk premium
Book equity, FY26₹234per share · excess returns add ₹(259)
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 | 3,783 | 3,923 | 4,068 | 4,219 | 4,375 |
| Net income at 3.7% ROE | 140 | 145 | 151 | 156 | 162 |
| Cost of equity charge at 16.63% | (629) | (652) | (677) | (702) | (728) |
| Excess return | (489) | (507) | (526) | (545) | (566) |
| Present value | (453) | (403) | (358) | (318) | (283) |
| Closing book equity | 3,923 | 4,068 | 4,219 | 4,375 | 4,537 |
| Book equity today | 3,783 |
| PV of 5 years of excess return | (1,815) |
| PV of the terminal excess return, 5% flat | (2,367) |
| add non-operating investments | 0 |
| Equity value | (399) |
| ÷ 16.16 crore shares | ₹(25) |
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
₹179₹292
Scenarios side by side · ₹ per share
| Scenario | Template | Growth | Margin | Rate | Terminal | ₹ / share | vs CMP |
|---|---|---|---|---|---|---|---|
| Base · editing | Excess return | ROE 3.7% | — | 16.63% | 5% | ₹(25) | (110.1)% |
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.