Models
INGERSOLL-RAND INDIA LTDINGERRANDIndustrial Products
₹1,113per 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₹1,113implied FY26 P/E 13.1× · EV/EBITDA 10.4×
Against CMP ₹4,570.30−75.6%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3177%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
₹869₹1,600
52-week rangetraded range, a fact not a value
₹3,063₹4,955
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 757 |
| PV of terminal value | 2,599 |
| Enterprise value | 3,356 |
| less net debt | 158 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 3,514 |
| ÷ 3.16 crore shares | ₹1,113 |
77% 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% | 1,149 | 1,231 | 1,329 | 1,449 | 1,600 |
| 10.50% | 1,062 | 1,131 | 1,211 | 1,308 | 1,426 |
| 11.00% | 989 | 1,046 | 1,113 | 1,192 | 1,287 |
| 11.50% | 925 | 974 | 1,030 | 1,096 | 1,174 |
| 12.00% | 869 | 911 | 959 | 1,014 | 1,079 |
The outlined cell is your model. Green figures sit above the CMP of ₹4,570.30; 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 | 940 · 1,105 · 1,312 |
| Draws below the CMP | 100% |
| Rank correlation with discount rate | −0.69 |
| Rank correlation with ebitda margin | +0.67 |
| Rank correlation with revenue growth | +0.10 |
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 | 1,151 | 1,214 | 1,336 | 1,392 | 1,448 | 1,506 | 1,566 | 1,629 | 1,694 |
| growth % | 26.5 | 5.5 | 10.1 | 4.2 | 4.0 | 4.0 | 4.0 | 4.0 | 4.0 |
| EBITDA | 246 | 290 | 340 | 322 | 335 | 348 | 362 | 376 | 391 |
| margin % | 21.4 | 23.9 | 25.5 | 23.1 | 23.1 | 23.1 | 23.1 | 23.1 | 23.1 |
| less depreciation | (16) | (18) | (17) | (15) | (16) | (17) | (17) | (18) | (19) |
| EBIT | 229 | 273 | 323 | 306 | 319 | 331 | 345 | 358 | 373 |
| less tax on EBIT | (78) | (81) | (84) | (88) | (91) | (95) | |||
| NOPAT | 229 | 238 | 247 | 257 | 267 | 278 | |||
| add depreciation | 16 | 18 | 17 | 15 | 16 | 17 | 17 | 18 | 19 |
| less capex | (15) | (49) | (49) | (79) | (81) | (68) | (54) | (39) | (22) |
| less working-capital build | — | (21) | (21) | (22) | (23) | (24) | |||
| Free cash flow to firm | 133 | 158 | 216 | — | 152 | 174 | 198 | 223 | 250 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 144 | 149 | 152 | 155 | 156 |
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 0, dividends at 98.6% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 306 | 319 | 331 | 345 | 358 | 373 |
| Interest at 8% on debt | 0 | 0 | 0 | 0 | 0 | |
| Profit before tax | 319 | 331 | 345 | 358 | 373 | |
| Profit after tax | 256 | 238 | 247 | 257 | 267 | 278 |
| Dividends | (253) | (234) | (244) | (253) | (264) | (274) |
| Balance sheet, year end | ||||||
| Cash | 158 | 75 | 6 | (50) | (90) | (114) |
| Working capital | 514 | 534 | 556 | 578 | 601 | 625 |
| Net block and other assets | 328 | 393 | 444 | 481 | 502 | 506 |
| Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity | 616 | 619 | 623 | 626 | 630 | 634 |
| Balance check | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 233 | 242 | 252 | 262 | 273 | |
| Investing (capex) | (81) | (68) | (54) | (39) | (22) | |
| Financing (dividends) | (234) | (244) | (253) | (264) | (274) | |
| Net change in cash | (82) | (70) | (56) | (40) | (24) | |
| Free cash flow to equity | 152 | 174 | 198 | 223 | 250 | |
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 | 4% | 23.1% | 11.00% | 5% | ₹1,113 | (75.6)% |
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.