Models
KWALITY PHARMACEUTICALS LKPLPharmaceuticals & Biotechnology
₹271per 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₹271implied FY26 P/E 4.2× · EV/EBITDA 3.5×
Against CMP ₹3,516.10−92.3%close of 8 Oct 2026
Growth the CMP implies—%no growth rate between −20% and 45% a year brings the value to the CMP on your other inputs
Value after FY3197%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
₹159₹497
52-week rangetraded range, a fact not a value
₹1,561₹3,949
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 12 |
| PV of terminal value | 399 |
| Enterprise value | 412 |
| less net debt | (130) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 282 |
| ÷ 1.04 crore shares | ₹271 |
97% 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% | 286 | 325 | 371 | 427 | 497 |
| 10.50% | 247 | 279 | 317 | 362 | 417 |
| 11.00% | 213 | 240 | 271 | 308 | 353 |
| 11.50% | 184 | 207 | 233 | 264 | 300 |
| 12.00% | 159 | 178 | 201 | 227 | 257 |
The outlined cell is your model. Green figures sit above the CMP of ₹3,516.10; 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 | (430) · 273 · 744 |
| Draws below the CMP | 100% |
| Rank correlation with ebitda margin | +0.70 |
| Rank correlation with revenue growth | −0.69 |
| Rank correlation with discount rate | −0.10 |
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 | 251 | 307 | 370 | 503 | 654 | 850 | 1,105 | 1,437 | 1,868 |
| growth % | (45.0) | 22.4 | 20.5 | 35.9 | 30.0 | 30.0 | 30.0 | 30.0 | 30.0 |
| EBITDA | 44 | 59 | 80 | 117 | 152 | 198 | 258 | 335 | 435 |
| margin % | 17.4 | 19.3 | 21.7 | 23.3 | 23.3 | 23.3 | 23.3 | 23.3 | 23.3 |
| less depreciation | (15) | (20) | (18) | (20) | (26) | (33) | (43) | (56) | (73) |
| EBIT | 29 | 40 | 62 | 98 | 127 | 165 | 214 | 279 | 362 |
| less tax on EBIT | (24) | (31) | (41) | (53) | (69) | (90) | |||
| NOPAT | 73 | 96 | 124 | 161 | 210 | 273 | |||
| add depreciation | 15 | 20 | 18 | 20 | 26 | 33 | 43 | 56 | 73 |
| less capex | (48) | (30) | (23) | (45) | (58) | (67) | (75) | (82) | (87) |
| less working-capital build | — | (77) | (100) | (130) | (169) | (220) | |||
| Free cash flow to firm | (6) | 13 | 29 | — | (14) | (9) | (1) | 14 | 38 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | (13) | (8) | (0) | 10 | 24 |
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 130, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 98 | 127 | 165 | 214 | 279 | 362 |
| Interest at 9% on debt | (12) | (12) | (12) | (12) | (12) | |
| Profit before tax | 115 | 153 | 203 | 267 | 351 | |
| Profit after tax | 67 | 87 | 115 | 153 | 201 | 264 |
| Dividends | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 1 | (22) | (40) | (50) | (44) | (15) |
| Working capital | 257 | 334 | 434 | 564 | 733 | 953 |
| Net block and other assets | 335 | 368 | 401 | 433 | 459 | 474 |
| Debt | 130 | 130 | 130 | 130 | 130 | 130 |
| Equity | 330 | 417 | 532 | 685 | 886 | 1,150 |
| Balance check | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 35 | 48 | 66 | 88 | 117 | |
| Investing (capex) | (58) | (67) | (75) | (82) | (87) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | (23) | (18) | (9) | 6 | 30 | |
| Free cash flow to equity | (23) | (18) | (9) | 6 | 30 | |
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% | 23.3% | 11.00% | 5% | ₹271 | (92.3)% |
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.