Models
JAMNA AUTO IND LTDJAMNAAUTOAuto Components
₹139per 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₹139implied FY26 P/E 23.7× · EV/EBITDA 14.2×
Against CMP ₹135.99+2.2%close of 2026-09-10
Growth the CMP implies14.3%revenue, a year for 5 years, on your other inputs
Value after FY3175%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
₹109₹200
52-week rangetraded range, a fact not a value
₹90₹153
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 1,355 |
| PV of terminal value | 4,099 |
| Enterprise value | 5,454 |
| less net debt | 102 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 5,556 |
| ÷ 39.98 crore shares | ₹139 |
75% 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% | 143 | 154 | 166 | 181 | 200 |
| 10.50% | 133 | 141 | 151 | 163 | 178 |
| 11.00% | 123 | 131 | 139 | 149 | 161 |
| 11.50% | 116 | 122 | 129 | 137 | 146 |
| 12.00% | 109 | 114 | 120 | 127 | 135 |
The outlined cell is your model. Green figures sit above the CMP of ₹135.99; 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 | 112 · 138 · 170 |
| Draws below the CMP | 46% |
| Rank correlation with ebitda margin | +0.60 |
| Rank correlation with discount rate | −0.55 |
| Rank correlation with revenue growth | +0.52 |
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 | 2,325 | 2,427 | 2,270 | 2,612 | 3,003 | 3,454 | 3,972 | 4,568 | 5,253 |
| growth % | 35.4 | 4.4 | (6.5) | 15.0 | 15.0 | 15.0 | 15.0 | 15.0 | 15.0 |
| EBITDA | 261 | 327 | 302 | 384 | 441 | 508 | 584 | 671 | 772 |
| margin % | 11.2 | 13.5 | 13.3 | 14.7 | 14.7 | 14.7 | 14.7 | 14.7 | 14.7 |
| less depreciation | (41) | (44) | (47) | (61) | (69) | (79) | (91) | (105) | (121) |
| EBIT | 220 | 283 | 254 | 323 | 372 | 428 | 493 | 566 | 651 |
| less tax on EBIT | (90) | (104) | (119) | (137) | (157) | (181) | |||
| NOPAT | 234 | 269 | 309 | 356 | 409 | 470 | |||
| add depreciation | 41 | 44 | 47 | 61 | 69 | 79 | 91 | 105 | 121 |
| less capex | 0 | (163) | (196) | 0 | 0 | (24) | (55) | (95) | (145) |
| less working-capital build | — | (29) | (34) | (39) | (45) | (51) | |||
| Free cash flow to firm | 344 | (73) | 93 | — | 309 | 331 | 353 | 375 | 395 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 293 | 283 | 272 | 260 | 247 |
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 36.3% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 323 | 372 | 428 | 493 | 566 | 651 |
| Interest at 8% on debt | 0 | 0 | 0 | 0 | 0 | |
| Profit before tax | 372 | 428 | 493 | 566 | 651 | |
| Profit after tax | 231 | 269 | 309 | 356 | 409 | 470 |
| Dividends | (84) | (98) | (112) | (129) | (148) | (171) |
| Balance sheet, year end | ||||||
| Cash | 102 | 313 | 532 | 756 | 983 | 1,207 |
| Working capital | 196 | 225 | 259 | 298 | 343 | 394 |
| Net block and other assets | 1,350 | 1,281 | 1,225 | 1,189 | 1,178 | 1,202 |
| Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity | 1,147 | 1,318 | 1,515 | 1,742 | 2,002 | 2,302 |
| Balance check | 0 | 0 | (0) | 0 | (0) | (0) |
| Cash flow | ||||||
| From operations | 309 | 355 | 408 | 469 | 540 | |
| Investing (capex) | 0 | (24) | (55) | (95) | (145) | |
| Financing (dividends) | (98) | (112) | (129) | (148) | (171) | |
| Net change in cash | 211 | 219 | 224 | 226 | 224 | |
| Free cash flow to equity | 309 | 331 | 353 | 375 | 395 | |
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 | 15% | 14.7% | 11.00% | 5% | ₹139 | 2.2% |
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.