Models
KRISHNA INST OF MED SCI LKIMSHealthcare Services
₹84per 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₹84implied FY26 P/E 16.5× · EV/EBITDA 8.5×
Against CMP ₹767.50−89.0%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY31128%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
₹25₹204
52-week rangetraded range, a fact not a value
₹576₹858
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | (1,899) |
| PV of terminal value | 8,632 |
| Enterprise value | 6,733 |
| less net debt | (3,189) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 3,544 |
| ÷ 42.00 crore shares | ₹84 |
128% 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% | 92 | 112 | 137 | 167 | 204 |
| 10.50% | 71 | 88 | 108 | 132 | 162 |
| 11.00% | 53 | 68 | 84 | 104 | 128 |
| 11.50% | 38 | 50 | 64 | 81 | 100 |
| 12.00% | 25 | 36 | 47 | 61 | 77 |
The outlined cell is your model. Green figures sit above the CMP of ₹767.50; 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 | 13 · 79 · 169 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.76 |
| Rank correlation with revenue growth | +0.45 |
| Rank correlation with discount rate | −0.38 |
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 | 2,198 | 2,498 | 3,035 | 3,905 | 5,017 | 6,447 | 8,285 | 10,646 | 13,680 |
| growth % | 33.1 | 13.7 | 21.5 | 28.6 | 28.5 | 28.5 | 28.5 | 28.5 | 28.5 |
| EBITDA | 619 | 640 | 794 | 791 | 1,019 | 1,309 | 1,682 | 2,161 | 2,777 |
| margin % | 28.2 | 25.6 | 26.2 | 20.3 | 20.3 | 20.3 | 20.3 | 20.3 | 20.3 |
| less depreciation | (129) | (147) | (177) | (283) | (366) | (471) | (605) | (777) | (999) |
| EBIT | 490 | 494 | 617 | 508 | 652 | 838 | 1,077 | 1,384 | 1,778 |
| less tax on EBIT | (141) | (181) | (232) | (298) | (383) | (493) | |||
| NOPAT | 367 | 472 | 606 | 779 | 1,001 | 1,286 | |||
| add depreciation | 129 | 147 | 177 | 283 | 366 | 471 | 605 | 777 | 999 |
| less capex | (526) | (647) | (1,009) | (1,428) | (1,836) | (1,911) | (1,879) | (1,674) | (1,198) |
| less working-capital build | — | (93) | (120) | (154) | (198) | (255) | |||
| Free cash flow to firm | (94) | (126) | (427) | — | (1,092) | (954) | (650) | (94) | 831 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | (1,036) | (816) | (501) | (65) | 520 |
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 3,244, dividends at 85.8% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 508 | 652 | 838 | 1,077 | 1,384 | 1,778 |
| Interest at 7% on debt | (227) | (227) | (227) | (227) | (227) | |
| Profit before tax | 425 | 611 | 850 | 1,157 | 1,551 | |
| Profit after tax | 241 | 307 | 442 | 615 | 836 | 1,122 |
| Dividends | (207) | (264) | (379) | (527) | (718) | (962) |
| Balance sheet, year end | ||||||
| Cash | 55 | (1,465) | (2,962) | (4,304) | (5,280) | (5,575) |
| Working capital | 328 | 422 | 542 | 696 | 895 | 1,150 |
| Net block and other assets | 7,375 | 8,845 | 10,285 | 11,560 | 12,456 | 12,656 |
| Debt | 3,244 | 3,244 | 3,244 | 3,244 | 3,244 | 3,244 |
| Equity | 2,559 | 2,602 | 2,665 | 2,752 | 2,871 | 3,030 |
| Balance check | 0 | (0) | (0) | (0) | (0) | (0) |
| Cash flow | ||||||
| From operations | 580 | 792 | 1,065 | 1,415 | 1,865 | |
| Investing (capex) | (1,836) | (1,911) | (1,879) | (1,674) | (1,198) | |
| Financing (dividends) | (264) | (379) | (527) | (718) | (962) | |
| Net change in cash | (1,520) | (1,498) | (1,341) | (976) | (295) | |
| Free cash flow to equity | (1,256) | (1,119) | (814) | (258) | 667 | |
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 | 28.5% | 20.3% | 11.00% | 5% | ₹84 | (89.0)% |
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.