Models
KRSNAA DIAGNOSTICS LTDKRSNAAHealthcare Services
₹114per 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₹114implied FY26 P/E 3.8× · EV/EBITDA 4.1×
Against CMP ₹552.90−79.5%close of 2026-09-10
Growth the CMP implies45.0%revenue, a year for 5 years, on your other inputs
Value after FY31100%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
₹35₹271
52-week rangetraded range, a fact not a value
₹515₹894
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 1 |
| PV of terminal value | 872 |
| Enterprise value | 872 |
| less net debt | (504) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 368 |
| ÷ 3.24 crore shares | ₹114 |
100% 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% | 124 | 151 | 183 | 222 | 271 |
| 10.50% | 97 | 119 | 145 | 177 | 215 |
| 11.00% | 73 | 92 | 114 | 139 | 170 |
| 11.50% | 53 | 69 | 87 | 108 | 134 |
| 12.00% | 35 | 49 | 64 | 82 | 104 |
The outlined cell is your model. Green figures sit above the CMP of ₹552.90; 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 | 2 · 111 · 226 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.92 |
| Rank correlation with discount rate | −0.35 |
| Rank correlation with revenue growth | −0.03 |
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 | 487 | 620 | 717 | 773 | 835 | 901 | 973 | 1,051 | 1,135 |
| growth % | 7.0 | 27.2 | 15.7 | 7.8 | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 |
| EBITDA | 122 | 144 | 190 | 212 | 229 | 247 | 267 | 288 | 311 |
| margin % | 25.1 | 23.3 | 26.5 | 27.4 | 27.4 | 27.4 | 27.4 | 27.4 | 27.4 |
| less depreciation | (54) | (75) | (88) | (90) | (98) | (105) | (114) | (123) | (133) |
| EBIT | 69 | 70 | 102 | 121 | 131 | 142 | 153 | 165 | 178 |
| less tax on EBIT | (27) | (29) | (31) | (34) | (37) | (40) | |||
| NOPAT | 94 | 102 | 110 | 119 | 128 | 139 | |||
| add depreciation | 54 | 75 | 88 | 90 | 98 | 105 | 114 | 123 | 133 |
| less capex | (141) | (194) | (127) | (219) | (237) | (224) | (207) | (185) | (159) |
| less working-capital build | — | (21) | (22) | (24) | (26) | (28) | |||
| Free cash flow to firm | (65) | (170) | (39) | — | (58) | (30) | 2 | 40 | 84 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | (55) | (26) | 2 | 28 | 52 |
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 534, dividends at 8.8% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 121 | 131 | 142 | 153 | 165 | 178 |
| Interest at 9.3% on debt | (50) | (50) | (50) | (50) | (50) | |
| Profit before tax | 81 | 92 | 103 | 115 | 129 | |
| Profit after tax | 101 | 63 | 71 | 80 | 90 | 100 |
| Dividends | (9) | (6) | (6) | (7) | (8) | (9) |
| Balance sheet, year end | ||||||
| Cash | 30 | (72) | (148) | (191) | (198) | (161) |
| Working capital | 259 | 280 | 302 | 326 | 352 | 380 |
| Net block and other assets | 1,535 | 1,674 | 1,792 | 1,885 | 1,947 | 1,974 |
| Debt | 534 | 534 | 534 | 534 | 534 | 534 |
| Equity | 980 | 1,038 | 1,103 | 1,176 | 1,258 | 1,350 |
| Balance check | 0 | 0 | (0) | (0) | 0 | 0 |
| Cash flow | ||||||
| From operations | 140 | 155 | 170 | 187 | 205 | |
| Investing (capex) | (237) | (224) | (207) | (185) | (159) | |
| Financing (dividends) | (6) | (6) | (7) | (8) | (9) | |
| Net change in cash | (102) | (75) | (44) | (7) | 36 | |
| Free cash flow to equity | (97) | (69) | (37) | 1 | 45 | |
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 | 8% | 27.4% | 11.00% | 5% | ₹114 | (79.5)% |
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.