Models
KAYCEE INDUSTRIES LTD.BSE 504084Electrical Equipment
₹226per 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₹226implied FY26 P/E 16.3× · EV/EBITDA 9.0×
Against CMP ₹795.05−71.6%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3173%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
₹178₹322
52-week rangetraded range, a fact not a value
₹632₹1,317
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 19 |
| PV of terminal value | 51 |
| Enterprise value | 71 |
| less net debt | 1 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 72 |
| ÷ 0.32 crore shares | ₹226 |
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% | 233 | 249 | 269 | 293 | 322 |
| 10.50% | 216 | 230 | 246 | 265 | 288 |
| 11.00% | 202 | 213 | 226 | 242 | 260 |
| 11.50% | 189 | 199 | 210 | 223 | 238 |
| 12.00% | 178 | 186 | 196 | 207 | 219 |
The outlined cell is your model. Green figures sit above the CMP of ₹795.05; 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 | 175 · 224 · 279 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.85 |
| Rank correlation with discount rate | −0.47 |
| Rank correlation with revenue growth | −0.07 |
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 | 53 | 60 | 68 | 77 | 87 | 98 | 111 |
| growth % | — | 12.9 | 13.0 | 13.0 | 13.0 | 13.0 | 13.0 |
| EBITDA | 9 | 8 | 9 | 10 | 11 | 13 | 14 |
| margin % | 16.2 | 13.1 | 13.1 | 13.1 | 13.1 | 13.1 | 13.1 |
| less depreciation | (1) | (1) | (1) | (2) | (2) | (2) | (2) |
| EBIT | 8 | 7 | 7 | 8 | 9 | 11 | 12 |
| less tax on EBIT | (2) | (2) | (2) | (3) | (3) | (3) | |
| NOPAT | 5 | 5 | 6 | 7 | 8 | 9 | |
| add depreciation | 1 | 1 | 1 | 2 | 2 | 2 | 2 |
| less capex | 0 | 0 | 0 | (1) | (1) | (2) | (3) |
| less working-capital build | — | (2) | (2) | (3) | (3) | (3) | |
| Free cash flow to firm | 6 | — | 5 | 5 | 5 | 5 | 5 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||
| Present value | 5 | 4 | 4 | 3 | 3 |
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 14.4% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 7 | 7 | 8 | 9 | 11 | 12 |
| Interest at 8% on debt | 0 | 0 | 0 | 0 | 0 | |
| Profit before tax | 7 | 8 | 9 | 11 | 12 | |
| Profit after tax | 4 | 5 | 6 | 7 | 8 | 9 |
| Dividends | (1) | (1) | (1) | (1) | (1) | (1) |
| Balance sheet, year end | ||||||
| Cash | 1 | 5 | 9 | 13 | 17 | 21 |
| Working capital | 16 | 18 | 20 | 23 | 26 | 29 |
| Net block and other assets | 30 | 29 | 27 | 27 | 26 | 27 |
| Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity | 33 | 38 | 43 | 49 | 56 | 63 |
| Balance check | 0 | 0 | (0) | (0) | 0 | 0 |
| Cash flow | ||||||
| From operations | 5 | 5 | 6 | 7 | 8 | |
| Investing (capex) | 0 | (1) | (1) | (2) | (3) | |
| Financing (dividends) | (1) | (1) | (1) | (1) | (1) | |
| Net change in cash | 4 | 4 | 4 | 4 | 4 | |
| Free cash flow to equity | 5 | 5 | 5 | 5 | 5 | |
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 | 13% | 13.1% | 11.00% | 5% | ₹226 | (71.6)% |
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.