Models
INSOLATION ENERGY LIMITEDINAElectrical Equipment
₹141per 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₹141implied FY26 P/E 13.0× · EV/EBITDA 13.4×
Against CMP ₹92.90+51.6%close of 2026-09-10
Growth the CMP implies13.9%revenue, a year for 5 years, on your other inputs
Value after FY31113%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
₹84₹256
52-week rangetraded range, a fact not a value
₹80₹162
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | (502) |
| PV of terminal value | 4,354 |
| Enterprise value | 3,852 |
| less net debt | (747) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 3,105 |
| ÷ 22.04 crore shares | ₹141 |
113% 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% | 148 | 168 | 191 | 220 | 256 |
| 10.50% | 128 | 144 | 164 | 187 | 215 |
| 11.00% | 111 | 125 | 141 | 160 | 183 |
| 11.50% | 96 | 108 | 122 | 137 | 156 |
| 12.00% | 84 | 94 | 105 | 118 | 134 |
The outlined cell is your model. Green figures sit above the CMP of ₹92.90; 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 | 81 · 136 · 207 |
| Draws below the CMP | 17% |
| Rank correlation with ebitda margin | +0.79 |
| Rank correlation with discount rate | −0.46 |
| Rank correlation with revenue growth | +0.30 |
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 | 279 | 737 | 1,334 | 2,146 | 2,790 | 3,627 | 4,715 | 6,129 | 7,968 |
| growth % | — | 163.9 | 80.9 | 60.9 | 30.0 | 30.0 | 30.0 | 30.0 | 30.0 |
| EBITDA | — | — | — | 287 | 374 | 486 | 632 | 821 | 1,068 |
| margin % | — | — | — | 13.4 | 13.4 | 13.4 | 13.4 | 13.4 | 13.4 |
| less depreciation | — | — | — | (36) | (47) | (62) | (80) | (104) | (135) |
| EBIT | — | — | — | 251 | 326 | 424 | 552 | 717 | 932 |
| less tax on EBIT | (46) | (59) | (77) | (100) | (131) | (170) | |||
| NOPAT | 206 | 267 | 347 | 451 | 587 | 763 | |||
| add depreciation | — | — | — | 36 | 47 | 62 | 80 | 104 | 135 |
| less capex | — | — | (85) | (448) | (583) | (587) | (541) | (414) | (163) |
| less working-capital build | — | (111) | (144) | (187) | (243) | (316) | |||
| Free cash flow to firm | — | — | 28 | — | (379) | (322) | (197) | 33 | 419 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | (360) | (276) | (151) | 23 | 262 |
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 835, dividends at 1.1% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 251 | 326 | 424 | 552 | 717 | 932 |
| Interest at 2.8% on debt | (23) | (23) | (23) | (23) | (23) | |
| Profit before tax | 303 | 401 | 528 | 694 | 909 | |
| Profit after tax | 200 | 248 | 328 | 432 | 567 | 743 |
| Dividends | (2) | (3) | (4) | (5) | (6) | (8) |
| Balance sheet, year end | ||||||
| Cash | 88 | (313) | (658) | (879) | (870) | (479) |
| Working capital | 368 | 479 | 623 | 810 | 1,053 | 1,369 |
| Net block and other assets | 1,699 | 2,235 | 2,760 | 3,221 | 3,531 | 3,558 |
| Debt | 835 | 835 | 835 | 835 | 835 | 835 |
| Equity | 808 | 1,054 | 1,378 | 1,805 | 2,367 | 3,102 |
| Balance check | 0 | (0) | 0 | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 185 | 246 | 325 | 428 | 563 | |
| Investing (capex) | (583) | (587) | (541) | (414) | (163) | |
| Financing (dividends) | (3) | (4) | (5) | (6) | (8) | |
| Net change in cash | (401) | (345) | (220) | 8 | 392 | |
| Free cash flow to equity | (398) | (341) | (216) | 14 | 400 | |
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 | 30% | 13.4% | 11.00% | 5% | ₹141 | 51.6% |
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.