Models
KENNAMETAL INDIA LIMITEDKENNAMETIndustrial Manufacturing
₹892per 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₹892implied FY22 P/E 16.7× · EV/EBITDA 14.2×
Against CMP ₹4,680.00−80.9%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY2774%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
₹703₹1,269
52-week rangetraded range, a fact not a value
₹2,405₹5,136
From enterprise to equity · ₹ crore
| PV of FY23–FY27 free cash flow | 498 |
| PV of terminal value | 1,402 |
| Enterprise value | 1,900 |
| less net debt | 63 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 1,963 |
| ÷ 2.20 crore shares | ₹892 |
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% | 920 | 984 | 1,060 | 1,153 | 1,269 |
| 10.50% | 853 | 906 | 968 | 1,043 | 1,135 |
| 11.00% | 796 | 840 | 892 | 953 | 1,027 |
| 11.50% | 746 | 784 | 828 | 879 | 939 |
| 12.00% | 703 | 735 | 772 | 815 | 865 |
The outlined cell is your model. Green figures sit above the CMP of ₹4,680.00; 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 | 726 · 887 · 1,086 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.57 |
| Rank correlation with revenue growth | +0.55 |
| Rank correlation with discount rate | −0.55 |
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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 609 | 642 | 722 | 812 | 914 | 1,028 | 1,157 | 1,301 |
| growth % | — | 5.3 | 12.5 | 12.5 | 12.5 | 12.5 | 12.5 | 12.5 |
| EBITDA | 81 | 93 | 134 | 150 | 169 | 190 | 214 | 241 |
| margin % | 13.3 | 14.4 | 18.5 | 18.5 | 18.5 | 18.5 | 18.5 | 18.5 |
| less depreciation | (25) | (29) | (27) | (30) | (34) | (38) | (43) | (48) |
| EBIT | 56 | 64 | 107 | 120 | 135 | 152 | 171 | 193 |
| less tax on EBIT | (27) | (30) | (34) | (38) | (43) | (48) | ||
| NOPAT | 80 | 90 | 102 | 114 | 129 | 145 | ||
| add depreciation | 25 | 29 | 27 | 30 | 34 | 38 | 43 | 48 |
| less capex | — | — | 0 | 0 | (10) | (23) | (39) | (58) |
| less working-capital build | — | 0 | 0 | 0 | 0 | 0 | ||
| Free cash flow to firm | — | — | — | 120 | 125 | 129 | 133 | 135 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | |||
| Present value | 114 | 107 | 100 | 92 | 84 |
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 | FY22 | FY23 | FY24 | FY25 | FY26 | FY27 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 107 | 120 | 135 | 152 | 171 | 193 |
| Interest at 8% on debt | 0 | 0 | 0 | 0 | 0 | |
| Profit before tax | 120 | 135 | 152 | 171 | 193 | |
| Profit after tax | 86 | 90 | 102 | 114 | 129 | 145 |
| Dividends | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 0 | 120 | 246 | 375 | 508 | 643 |
| Working capital | 0 | 0 | 0 | 0 | 0 | 0 |
| Net block and other assets | 0 | (30) | (54) | (69) | (73) | (64) |
| Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity | 646 | 736 | 838 | 952 | 1,081 | 1,226 |
| Balance check | 0 | 0 | 0 | 0 | (0) | (0) |
| Cash flow | ||||||
| From operations | 120 | 135 | 152 | 171 | 193 | |
| Investing (capex) | 0 | (10) | (23) | (39) | (58) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | 120 | 125 | 129 | 133 | 135 | |
| Free cash flow to equity | 120 | 125 | 129 | 133 | 135 | |
Other liabilities are held at their FY22 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 | 12.5% | 18.5% | 11.00% | 5% | ₹892 | (80.9)% |
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.