Models
JKUMAR INFR.LTD.JKILConstruction
₹666per 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₹666implied FY26 P/E 13.2× · EV/EBITDA 6.7×
Against CMP ₹477.00+39.6%close of 2026-09-10
Growth the CMP implies(12.7)%revenue, a year for 5 years, on your other inputs
Value after FY3180%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
₹496₹1,006
52-week rangetraded range, a fact not a value
₹425₹672
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 1,102 |
| PV of terminal value | 4,352 |
| Enterprise value | 5,454 |
| less net debt | (416) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 5,038 |
| ÷ 7.57 crore shares | ₹666 |
80% 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% | 690 | 748 | 816 | 900 | 1,006 |
| 10.50% | 630 | 678 | 734 | 802 | 884 |
| 11.00% | 579 | 619 | 666 | 721 | 787 |
| 11.50% | 535 | 569 | 608 | 654 | 708 |
| 12.00% | 496 | 525 | 559 | 597 | 642 |
The outlined cell is your model. Green figures sit above the CMP of ₹477.00; 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 | 527 · 661 · 816 |
| Draws below the CMP | 3% |
| Rank correlation with ebitda margin | +0.77 |
| Rank correlation with discount rate | −0.60 |
| Rank correlation with revenue growth | −0.00 |
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 | FY24 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4,879 | 5,693 | 5,723 | 5,752 | 5,780 | 5,809 | 5,838 | 5,868 |
| growth % | — | 16.7 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 |
| EBITDA | 704 | 826 | 812 | 817 | 821 | 825 | 829 | 833 |
| margin % | 14.4 | 14.5 | 14.2 | 14.2 | 14.2 | 14.2 | 14.2 | 14.2 |
| less depreciation | (168) | (169) | (196) | (196) | (197) | (198) | (199) | (199) |
| EBIT | 536 | 658 | 617 | 621 | 624 | 627 | 631 | 634 |
| less tax on EBIT | (165) | (166) | (167) | (168) | (169) | (170) | ||
| NOPAT | 451 | 455 | 457 | 459 | 462 | 464 | ||
| add depreciation | 168 | 169 | 196 | 196 | 197 | 198 | 199 | 199 |
| less capex | (218) | (235) | (469) | (472) | (414) | (357) | (298) | (239) |
| less working-capital build | — | (5) | (5) | (5) | (5) | (5) | ||
| Free cash flow to firm | 121 | 141 | — | 174 | 234 | 295 | 357 | 419 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | |||
| Present value | 165 | 200 | 227 | 248 | 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 619, dividends at 7.8% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 617 | 621 | 624 | 627 | 631 | 634 |
| Interest at 8% on debt | (50) | (50) | (50) | (50) | (50) | |
| Profit before tax | 572 | 575 | 578 | 581 | 584 | |
| Profit after tax | 387 | 418 | 421 | 423 | 425 | 428 |
| Dividends | (30) | (33) | (33) | (33) | (33) | (33) |
| Balance sheet, year end | ||||||
| Cash | 203 | 308 | 473 | 699 | 986 | 1,336 |
| Working capital | 967 | 972 | 977 | 982 | 987 | 992 |
| Net block and other assets | 5,026 | 5,302 | 5,520 | 5,679 | 5,779 | 5,819 |
| Debt | 619 | 619 | 619 | 619 | 619 | 619 |
| Equity | 3,368 | 3,754 | 4,142 | 4,532 | 4,924 | 5,318 |
| Balance check | 0 | (0) | (0) | (0) | (0) | (0) |
| Cash flow | ||||||
| From operations | 609 | 612 | 616 | 619 | 622 | |
| Investing (capex) | (472) | (414) | (357) | (298) | (239) | |
| Financing (dividends) | (33) | (33) | (33) | (33) | (33) | |
| Net change in cash | 105 | 165 | 226 | 287 | 349 | |
| Free cash flow to equity | 138 | 198 | 259 | 321 | 383 | |
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 | 0.5% | 14.2% | 11.00% | 5% | ₹666 | 39.6% |
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.