Models
JNK INDIA LIMITEDJNKINDIAIndustrial Manufacturing
₹162per 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₹162implied FY26 P/E 11.9× · EV/EBITDA 10.3×
Against CMP ₹428.00−62.2%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3181%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
₹121₹243
52-week rangetraded range, a fact not a value
₹201₹558
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 180 |
| PV of terminal value | 769 |
| Enterprise value | 948 |
| less net debt | (42) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 906 |
| ÷ 5.60 crore shares | ₹162 |
81% 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% | 168 | 181 | 198 | 218 | 243 |
| 10.50% | 153 | 165 | 178 | 194 | 214 |
| 11.00% | 141 | 151 | 162 | 175 | 191 |
| 11.50% | 131 | 139 | 148 | 159 | 172 |
| 12.00% | 121 | 128 | 136 | 146 | 156 |
The outlined cell is your model. Green figures sit above the CMP of ₹428.00; 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 | 87 · 158 · 223 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.88 |
| Rank correlation with revenue growth | −0.32 |
| Rank correlation with discount rate | −0.29 |
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 | 480 | 477 | 819 | 1,064 | 1,383 | 1,798 | 2,338 | 3,039 |
| growth % | — | (0.7) | 71.7 | 30.0 | 30.0 | 30.0 | 30.0 | 30.0 |
| EBITDA | 99 | 47 | 92 | 119 | 155 | 201 | 262 | 340 |
| margin % | 20.7 | 9.8 | 11.2 | 11.2 | 11.2 | 11.2 | 11.2 | 11.2 |
| less depreciation | (6) | (6) | (9) | (12) | (15) | (20) | (26) | (33) |
| EBIT | 94 | 40 | 83 | 107 | 140 | 182 | 236 | 307 |
| less tax on EBIT | (20) | (26) | (33) | (43) | (56) | (73) | ||
| NOPAT | 63 | 82 | 106 | 138 | 180 | 234 | ||
| add depreciation | 6 | 6 | 9 | 12 | 15 | 20 | 26 | 33 |
| less capex | (11) | (8) | (9) | (12) | (16) | (22) | (30) | (40) |
| less working-capital build | — | (54) | (70) | (90) | (118) | (153) | ||
| Free cash flow to firm | (22) | (74) | — | 28 | 36 | 46 | 58 | 74 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | |||
| Present value | 27 | 31 | 35 | 40 | 46 |
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 74, dividends at 2.6% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 83 | 107 | 140 | 182 | 236 | 307 |
| Interest at 8% on debt | (6) | (6) | (6) | (6) | (6) | |
| Profit before tax | 102 | 134 | 176 | 230 | 301 | |
| Profit after tax | 65 | 77 | 102 | 134 | 175 | 229 |
| Dividends | (2) | (2) | (3) | (3) | (5) | (6) |
| Balance sheet, year end | ||||||
| Cash | 32 | 54 | 83 | 120 | 170 | 233 |
| Working capital | 179 | 232 | 302 | 392 | 510 | 663 |
| Net block and other assets | 851 | 851 | 852 | 854 | 858 | 864 |
| Debt | 74 | 74 | 74 | 74 | 74 | 74 |
| Equity | 568 | 643 | 742 | 873 | 1,043 | 1,266 |
| Balance check | 0 | (0) | (0) | (0) | 0 | 0 |
| Cash flow | ||||||
| From operations | 35 | 47 | 63 | 83 | 110 | |
| Investing (capex) | (12) | (16) | (22) | (30) | (40) | |
| Financing (dividends) | (2) | (3) | (3) | (5) | (6) | |
| Net change in cash | 22 | 29 | 38 | 49 | 64 | |
| Free cash flow to equity | 24 | 31 | 41 | 54 | 70 | |
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 | 30% | 11.2% | 11.00% | 5% | ₹162 | (62.2)% |
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.