Models
JAGSONPAL PHARMACEUTICALSJAGSNPHARMPharmaceuticals & Biotechnology
₹98per 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₹98implied FY26 P/E 14.5× · EV/EBITDA 11.4×
Against CMP ₹233.35−57.8%close of 2026-09-10
Growth the CMP implies33.3%revenue, a year for 5 years, on your other inputs
Value after FY3172%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
₹78₹140
52-week rangetraded range, a fact not a value
₹155₹265
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 177 |
| PV of terminal value | 461 |
| Enterprise value | 638 |
| less net debt | 10 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 648 |
| ÷ 6.58 crore shares | ₹98 |
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% | 102 | 109 | 117 | 127 | 140 |
| 10.50% | 94 | 100 | 107 | 115 | 125 |
| 11.00% | 88 | 93 | 98 | 105 | 113 |
| 11.50% | 82 | 87 | 91 | 97 | 104 |
| 12.00% | 78 | 81 | 85 | 90 | 95 |
The outlined cell is your model. Green figures sit above the CMP of ₹233.35; 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 | 82 · 98 · 117 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.67 |
| Rank correlation with discount rate | −0.62 |
| Rank correlation with revenue growth | +0.32 |
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 | 237 | 209 | 269 | 287 | 307 | 329 | 352 | 376 | 403 |
| growth % | 4.7 | (11.8) | 28.8 | 6.9 | 7.0 | 7.0 | 7.0 | 7.0 | 7.0 |
| EBITDA | 31 | 23 | 71 | 56 | 60 | 64 | 69 | 73 | 79 |
| margin % | 13.0 | 11.1 | 26.3 | 19.5 | 19.5 | 19.5 | 19.5 | 19.5 | 19.5 |
| less depreciation | (1) | (2) | (8) | (9) | (10) | (11) | (12) | (12) | (13) |
| EBIT | 29 | 21 | 63 | 47 | 50 | 53 | 57 | 61 | 65 |
| less tax on EBIT | (12) | (12) | (13) | (14) | (15) | (16) | |||
| NOPAT | 35 | 37 | 40 | 43 | 46 | 49 | |||
| add depreciation | 1 | 2 | 8 | 9 | 10 | 11 | 12 | 12 | 13 |
| less capex | (0) | (0) | (0) | 0 | 0 | (3) | (7) | (11) | (16) |
| less working-capital build | — | (1) | (2) | (2) | (2) | (2) | |||
| Free cash flow to firm | 40 | 35 | 55 | — | 46 | 46 | 46 | 45 | 44 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 44 | 39 | 35 | 31 | 28 |
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 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 47 | 50 | 53 | 57 | 61 | 65 |
| Interest at 8% on debt | 0 | 0 | 0 | 0 | 0 | |
| Profit before tax | 50 | 53 | 57 | 61 | 65 | |
| Profit after tax | 43 | 37 | 40 | 43 | 46 | 49 |
| Dividends | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 10 | 56 | 102 | 148 | 193 | 237 |
| Working capital | 20 | 22 | 23 | 25 | 26 | 28 |
| Net block and other assets | 286 | 276 | 269 | 264 | 263 | 265 |
| Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity | 276 | 313 | 353 | 396 | 442 | 491 |
| Balance check | 0 | (0) | (0) | (0) | 0 | 0 |
| Cash flow | ||||||
| From operations | 46 | 49 | 53 | 56 | 60 | |
| Investing (capex) | 0 | (3) | (7) | (11) | (16) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | 46 | 46 | 46 | 45 | 44 | |
| Free cash flow to equity | 46 | 46 | 46 | 45 | 44 | |
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 | 7% | 19.5% | 11.00% | 5% | ₹98 | (57.8)% |
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.