Models
KILBURN ENGINEERING LTD.KLBRENG-BIndustrial Manufacturing
₹421per 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₹421implied FY26 P/E 21.7× · EV/EBITDA 15.5×
Against CMP ₹488.00−13.7%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3182%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
₹317₹629
52-week rangetraded range, a fact not a value
₹332₹545
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 412 |
| PV of terminal value | 1,865 |
| Enterprise value | 2,277 |
| less net debt | (45) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 2,232 |
| ÷ 5.30 crore shares | ₹421 |
82% 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% | 436 | 471 | 513 | 565 | 629 |
| 10.50% | 400 | 429 | 463 | 504 | 555 |
| 11.00% | 368 | 393 | 421 | 455 | 496 |
| 11.50% | 341 | 362 | 386 | 414 | 447 |
| 12.00% | 317 | 335 | 356 | 380 | 407 |
The outlined cell is your model. Green figures sit above the CMP of ₹488.00; 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 | 310 · 412 · 541 |
| Draws below the CMP | 78% |
| Rank correlation with ebitda margin | +0.80 |
| Rank correlation with discount rate | −0.45 |
| Rank correlation with revenue growth | +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 | 0 | 424 | 629 | 817 | 1,063 | 1,381 | 1,796 | 2,335 |
| growth % | — | — | 48.1 | 30.0 | 30.0 | 30.0 | 30.0 | 30.0 |
| EBITDA | 0 | 101 | 147 | 191 | 249 | 323 | 420 | 546 |
| margin % | — | 23.8 | 23.4 | 23.4 | 23.4 | 23.4 | 23.4 | 23.4 |
| less depreciation | 0 | (7) | (12) | (16) | (20) | (26) | (34) | (44) |
| EBIT | 0 | 94 | 135 | 176 | 228 | 297 | 386 | 502 |
| less tax on EBIT | (40) | (51) | (67) | (87) | (113) | (147) | ||
| NOPAT | 96 | 124 | 162 | 210 | 273 | 355 | ||
| add depreciation | 0 | 7 | 12 | 16 | 20 | 26 | 34 | 44 |
| less capex | (16) | (35) | (16) | (21) | (27) | (34) | (42) | (53) |
| less working-capital build | — | (58) | (76) | (99) | (128) | (166) | ||
| Free cash flow to firm | (57) | (45) | — | 60 | 79 | 104 | 137 | 180 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | |||
| Present value | 57 | 68 | 80 | 95 | 112 |
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 77, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 135 | 176 | 228 | 297 | 386 | 502 |
| Interest at 18.3% on debt | (14) | (14) | (14) | (14) | (14) | |
| Profit before tax | 162 | 214 | 283 | 372 | 488 | |
| Profit after tax | 0 | 114 | 152 | 200 | 263 | 345 |
| Dividends | (10) | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 32 | 82 | 152 | 246 | 373 | 542 |
| Working capital | 194 | 253 | 329 | 427 | 555 | 722 |
| Net block and other assets | 668 | 674 | 680 | 688 | 696 | 705 |
| Debt | 77 | 77 | 77 | 77 | 77 | 77 |
| Equity | 654 | 768 | 920 | 1,120 | 1,383 | 1,728 |
| Balance check | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 72 | 96 | 128 | 169 | 223 | |
| Investing (capex) | (21) | (27) | (34) | (42) | (53) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | 50 | 69 | 94 | 127 | 170 | |
| Free cash flow to equity | 50 | 69 | 94 | 127 | 170 | |
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% | 23.4% | 11.00% | 5% | ₹421 | (13.7)% |
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.