Models
KRBL LIMITEDKRBLAgricultural Food & other Products
₹231per 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₹231implied FY26 P/E 7.0× · EV/EBITDA 5.9×
Against CMP ₹420.70−45.0%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY3175%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
₹179₹335
52-week rangetraded range, a fact not a value
₹275₹467
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 1,357 |
| PV of terminal value | 3,997 |
| Enterprise value | 5,354 |
| less net debt | (60) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 5,294 |
| ÷ 22.89 crore shares | ₹231 |
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% | 239 | 256 | 277 | 303 | 335 |
| 10.50% | 221 | 235 | 252 | 273 | 298 |
| 11.00% | 205 | 217 | 231 | 248 | 268 |
| 11.50% | 191 | 202 | 214 | 228 | 244 |
| 12.00% | 179 | 188 | 199 | 210 | 224 |
The outlined cell is your model. Green figures sit above the CMP of ₹420.70; 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 | 144 · 229 · 310 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.73 |
| Rank correlation with revenue growth | −0.58 |
| Rank correlation with discount rate | −0.31 |
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 | FY23 | FY24 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 5,363 | 5,385 | 5,594 | 6,098 | 6,647 | 7,245 | 7,897 | 8,608 | 9,382 |
| growth % | 27.4 | 0.4 | 3.9 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 | 9.0 |
| EBITDA | 939 | 802 | 674 | 902 | 984 | 1,072 | 1,169 | 1,274 | 1,389 |
| margin % | 17.5 | 14.9 | 12.1 | 14.8 | 14.8 | 14.8 | 14.8 | 14.8 | 14.8 |
| less depreciation | (76) | (79) | (81) | (91) | (100) | (109) | (118) | (129) | (141) |
| EBIT | 863 | 723 | 593 | 811 | 884 | 964 | 1,050 | 1,145 | 1,248 |
| less tax on EBIT | (209) | (228) | (249) | (271) | (295) | (322) | |||
| NOPAT | 602 | 656 | 715 | 779 | 849 | 926 | |||
| add depreciation | 76 | 79 | 81 | 91 | 100 | 109 | 118 | 129 | 141 |
| less capex | (59) | (86) | (96) | (68) | (73) | (92) | (115) | (140) | (169) |
| less working-capital build | — | (363) | (396) | (432) | (470) | (513) | |||
| Free cash flow to firm | (419) | 141 | 864 | — | 319 | 335 | 352 | 368 | 385 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 303 | 287 | 271 | 256 | 241 |
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 170, dividends at 12.4% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 811 | 884 | 964 | 1,050 | 1,145 | 1,248 |
| Interest at 2.9% on debt | (5) | (5) | (5) | (5) | (5) | |
| Profit before tax | 879 | 959 | 1,045 | 1,140 | 1,243 | |
| Profit after tax | 648 | 652 | 711 | 776 | 846 | 922 |
| Dividends | (80) | (81) | (88) | (96) | (105) | (114) |
| Balance sheet, year end | ||||||
| Cash | 110 | 345 | 588 | 840 | 1,100 | 1,366 |
| Working capital | 4,036 | 4,400 | 4,796 | 5,227 | 5,698 | 6,211 |
| Net block and other assets | 2,452 | 2,425 | 2,409 | 2,405 | 2,415 | 2,444 |
| Debt | 170 | 170 | 170 | 170 | 170 | 170 |
| Equity | 5,807 | 6,379 | 7,002 | 7,681 | 8,422 | 9,230 |
| Balance check | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 389 | 424 | 462 | 504 | 550 | |
| Investing (capex) | (73) | (92) | (115) | (140) | (169) | |
| Financing (dividends) | (81) | (88) | (96) | (105) | (114) | |
| Net change in cash | 235 | 243 | 252 | 260 | 267 | |
| Free cash flow to equity | 316 | 332 | 348 | 365 | 381 | |
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 | 9% | 14.8% | 11.00% | 5% | ₹231 | (45.0)% |
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.