Models
INTELLECT DESIGN ARENAINTELLECTIT - Software
₹366per 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₹366implied FY26 P/E 14.4× · EV/EBITDA 8.5×
Against CMP ₹684.00−46.5%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3178%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
₹289₹520
52-week rangetraded range, a fact not a value
₹595₹1,245
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 1,029 |
| PV of terminal value | 3,650 |
| Enterprise value | 4,679 |
| less net debt | 452 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 5,131 |
| ÷ 14.02 crore shares | ₹366 |
78% 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% | 377 | 403 | 434 | 472 | 520 |
| 10.50% | 350 | 372 | 397 | 428 | 465 |
| 11.00% | 327 | 345 | 366 | 391 | 421 |
| 11.50% | 307 | 322 | 340 | 361 | 385 |
| 12.00% | 289 | 302 | 317 | 335 | 355 |
The outlined cell is your model. Green figures sit above the CMP of ₹684.00; 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 | 256 · 360 · 481 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.89 |
| Rank correlation with discount rate | −0.34 |
| Rank correlation with revenue growth | +0.20 |
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 | 2,231 | 2,506 | 2,500 | 3,038 | 3,691 | 4,485 | 5,449 | 6,621 | 8,044 |
| growth % | 18.8 | 12.3 | (0.3) | 21.5 | 21.5 | 21.5 | 21.5 | 21.5 | 21.5 |
| EBITDA | 435 | 539 | 531 | 550 | 668 | 812 | 986 | 1,198 | 1,456 |
| margin % | 19.5 | 21.5 | 21.2 | 18.1 | 18.1 | 18.1 | 18.1 | 18.1 | 18.1 |
| less depreciation | (122) | (137) | (156) | (209) | (255) | (309) | (376) | (457) | (555) |
| EBIT | 314 | 402 | 374 | 341 | 413 | 502 | 610 | 742 | 901 |
| less tax on EBIT | (87) | (106) | (129) | (156) | (190) | (231) | |||
| NOPAT | 253 | 308 | 374 | 454 | 552 | 670 | |||
| add depreciation | 122 | 137 | 156 | 209 | 255 | 309 | 376 | 457 | 555 |
| less capex | (166) | (173) | (172) | (220) | (266) | (335) | (422) | (530) | (666) |
| less working-capital build | — | (95) | (116) | (141) | (171) | (208) | |||
| Free cash flow to firm | 9 | 237 | 260 | — | 201 | 232 | 268 | 307 | 351 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 191 | 199 | 206 | 213 | 220 |
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 28.3% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 341 | 413 | 502 | 610 | 742 | 901 |
| Interest at 8% on debt | (0) | (0) | (0) | (0) | (0) | |
| Profit before tax | 413 | 502 | 610 | 742 | 901 | |
| Profit after tax | 345 | 308 | 374 | 454 | 552 | 670 |
| Dividends | (98) | (87) | (106) | (129) | (156) | (190) |
| Balance sheet, year end | ||||||
| Cash | 452 | 567 | 693 | 832 | 983 | 1,145 |
| Working capital | 443 | 538 | 654 | 795 | 966 | 1,174 |
| Net block and other assets | 3,684 | 3,695 | 3,721 | 3,767 | 3,840 | 3,951 |
| Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity | 3,199 | 3,420 | 3,688 | 4,013 | 4,409 | 4,890 |
| Balance check | 0 | 0 | (0) | (0) | (0) | (0) |
| Cash flow | ||||||
| From operations | 467 | 567 | 689 | 837 | 1,018 | |
| Investing (capex) | (266) | (335) | (422) | (530) | (666) | |
| Financing (dividends) | (87) | (106) | (129) | (156) | (190) | |
| Net change in cash | 114 | 127 | 139 | 151 | 162 | |
| Free cash flow to equity | 201 | 232 | 268 | 307 | 351 | |
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 | 21.5% | 18.1% | 11.00% | 5% | ₹366 | (46.5)% |
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.