Models
INVENTURUS KNOWLEDGE SO LIKSIT - Services
₹1,300per 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₹1,300implied FY26 P/E 28.5× · EV/EBITDA 20.6×
Against CMP ₹1,736.30−25.1%close of 2026-09-10
Growth the CMP implies28.6%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
₹996₹1,907
52-week rangetraded range, a fact not a value
₹1,262₹1,933
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 4,910 |
| PV of terminal value | 17,549 |
| Enterprise value | 22,460 |
| less net debt | (252) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 22,208 |
| ÷ 17.09 crore shares | ₹1,300 |
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% | 1,344 | 1,446 | 1,569 | 1,719 | 1,907 |
| 10.50% | 1,237 | 1,322 | 1,422 | 1,543 | 1,690 |
| 11.00% | 1,145 | 1,216 | 1,300 | 1,399 | 1,517 |
| 11.50% | 1,065 | 1,126 | 1,196 | 1,278 | 1,375 |
| 12.00% | 996 | 1,048 | 1,108 | 1,177 | 1,258 |
The outlined cell is your model. Green figures sit above the CMP of ₹1,736.30; 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 | 1,013 · 1,291 · 1,644 |
| Draws below the CMP | 94% |
| Rank correlation with revenue growth | +0.67 |
| Rank correlation with discount rate | −0.50 |
| Rank correlation with ebitda margin | +0.49 |
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 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|---|
| Revenue | 2,664 | 3,194 | 3,833 | 4,599 | 5,519 | 6,623 | 7,947 |
| growth % | — | 19.9 | 20.0 | 20.0 | 20.0 | 20.0 | 20.0 |
| EBITDA | 770 | 1,091 | 1,311 | 1,573 | 1,887 | 2,265 | 2,718 |
| margin % | 28.9 | 34.2 | 34.2 | 34.2 | 34.2 | 34.2 | 34.2 |
| less depreciation | (113) | (124) | (149) | (179) | (215) | (258) | (310) |
| EBIT | 657 | 967 | 1,161 | 1,394 | 1,672 | 2,007 | 2,408 |
| less tax on EBIT | (194) | (233) | (280) | (336) | (403) | (484) | |
| NOPAT | 773 | 928 | 1,113 | 1,336 | 1,603 | 1,924 | |
| add depreciation | 113 | 124 | 149 | 179 | 215 | 258 | 310 |
| less capex | (25) | (32) | (38) | (88) | (157) | (249) | (372) |
| less working-capital build | — | (83) | (100) | (120) | (143) | (172) | |
| Free cash flow to firm | 293 | — | 956 | 1,105 | 1,275 | 1,469 | 1,690 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||
| Present value | 907 | 945 | 982 | 1,020 | 1,057 |
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 641, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 967 | 1,161 | 1,394 | 1,672 | 2,007 | 2,408 |
| Interest at 10.1% on debt | (65) | (65) | (65) | (65) | (65) | |
| Profit before tax | 1,097 | 1,329 | 1,608 | 1,942 | 2,343 | |
| Profit after tax | 722 | 876 | 1,062 | 1,284 | 1,552 | 1,872 |
| Dividends | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 389 | 1,293 | 2,346 | 3,569 | 4,987 | 6,625 |
| Working capital | 416 | 499 | 598 | 718 | 861 | 1,034 |
| Net block and other assets | 3,464 | 3,352 | 3,261 | 3,203 | 3,194 | 3,256 |
| Debt | 641 | 641 | 641 | 641 | 641 | 641 |
| Equity | 2,800 | 3,676 | 4,738 | 6,022 | 7,574 | 9,446 |
| Balance check | 0 | (0) | (0) | (0) | (0) | (0) |
| Cash flow | ||||||
| From operations | 943 | 1,141 | 1,380 | 1,666 | 2,010 | |
| Investing (capex) | (38) | (88) | (157) | (249) | (372) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | 904 | 1,053 | 1,223 | 1,417 | 1,638 | |
| Free cash flow to equity | 904 | 1,053 | 1,223 | 1,417 | 1,638 | |
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 | 20% | 34.2% | 11.00% | 5% | ₹1,300 | (25.1)% |
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.